He was previously chief investment officer of state-backed Innovation Works, which has a portfolio of more than 150 active venture investments, and, before that, spent 10 years as a partner with venture capital firm Draper Triangle Ventures.

Novo Ventures and Novartis Venture Funds, which invest on behalf of Denmark-based Novo and Switzerland-based Novartis respectively, co-led the A round.

CI's investment was part of a $6.6m series A round also involving venture capital firms EJ Funds (affiliated with EJ Financial Enterprises), Kuzari Group and Advantage Capital Partners, Yale University, and angel investors.

The challenge will feature $750,000 in total awards, with the overall winner taking home $250,000 for apps focused on the management of high cost chronic diseases and value-based care imperatives.

BoSci said it would pay $90m initially and a further $175m in performance fees if targets were met over the next five years.

Venture capital firm Kleiner Perkins Caufield & Byers (KPCB) is providing the initial financing and management for Atara, while Amgen will have an equity stake.