Palantir Technologies Expands FDA Partnership With $44m Contract

DENVER--(BUSINESS WIRE)--Palantir Technologies Inc. (NYSE:PLTR) announced today it was awarded a $44.4m, three-year contract with the U.S. Food and Drug Administration (FDA). The contract will build on Palantir’s existing partnership with the FDA by providing an enterprise data management and analytics solution for the Center for Drug Evaluation and Research (CDER) and the Oncology Center of Excellence (OCE), amongst their other technology investments.

This contract represents Palantir’s largest partnership with the FDA to date. Palantir’s software will enable IT leadership, analysts, medical offices, consumer safety officers and others to use their data to its full potential and make critical information more accessible, governable, and secure as they assess the safety and efficacy of drugs and regulate the industry.

Palantir will support the CDER and OCE’s work by providing these organizations with a sophisticated system for integrating, organizing and making decisions based on their data. Palantir’s software breaks down information silos and allows end users to see new connections and insights from data, while taking into account data governance and appropriate data permissions through granular access controls. The system will help CDER and OCE address gaps in their current IT capabilities, as well as support vital human drug review and other regulatory activities on behalf of CDER and OCE.

The CDER mission is to ensure that human drugs are safe and effective for their intended use, meet established quality standards, and are made available to patients in a safe and timely manner. OCE facilitates the developments and clinical review of oncology products.

About Palantir

Palantir Technologies Inc. is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and nonprofit sectors transform the way they use their data. Additional information is available at www.palantir.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and the terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.