Horizons Ventures and Sofinnova Partners Co-Lead Investment in Market-leading
Life Sciences Software Company That Transforms the Way Scientists Automate Experimentation and Share Insights
Synthace, the first life sciences software company to enable scientists to automate biology experimentation and insight sharing in a unified, global R&D environment announced it raised $35 million in Series C funding. The investment will fuel commercial and go-to-market (GTM) growth as Synthace continues to radically reinvent the full value chain of life sciences R&D. The company also plans to expand its senior leadership team in the U.S., with new vice presidents of marketing and sales joining the U.S.-based CEO.
“Synthace has been a key partner of Wheeler’s in establishing a digital R&D lab environment. Their automation engineers worked side-by-side with our process scientists to automate multiple end-to-end workflows creating more walkaway time for scientists who can now focus on data analysis, interpretation, planning and communication directly with customers”
“Synthace’s R&D cloud platform is helping life scientists completely change the way they develop new c**** and therapeutics to solve humanity’s most pressing problems,” said Guy Levy-Yurista, Ph.D., CEO of Synthace. “But to maximize impact, we need to expand access and reach to customers across the globe—at scale. This investment serves as a strong vote of confidence from world-class investors in the biopharmaceutical and innovation technology industries. With their support, we’ll be able to better deploy human and financial capital to help transform scientific dreams into d**** and alternative food sources.”
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This investment coincides with a pivotal time in the biopharmaceuticals industry—while it’s at the forefront of helping the world combat both existing and new illnesses and biological challenges. The accelerated development and roll-out of the COVID vaccines, booster shots, and the recently announced COVID pill highlight how critical speed is to drug discovery and development. But the cost of doing so can be massive. According to McKinsey, “the estimated average cost of bringing a drug to market (including drug failures) is now $2.6 billion.” The pressures of accelerating innovation and spiraling costs, in addition to the complexity of biology, has increased the barriers to development.
Customer Adoption of Synthace Life Sciences R&D Cloud
This is exactly why Synthace recently released the first life sciences R&D cloud, a no-code software platform that addresses simplification, speed, and reproducibility for scientists thereby removing barriers to innovation. With Synthace, scientists across the world can now benefit from a quantum leap in experimentation capabilities, accelerating development timelines and performing experiments they never before thought possible.
“I envisaged an automated platform where our molecular biology and protein purification workflows proceeded end to end with sample tracking and barcoding throughout,” noted Tony Keeley, senior protein scientist at Syngenta (a leading provider of science-based agtech, helping millions of farmers around the world grow safe, nutritious food). “Working closely with the Synthace team has enabled this to happen.”
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“Synthace has been a key partner of Wheeler’s in establishing a digital R&D lab environment. Their automation engineers worked side-by-side with our process scientists to automate multiple end-to-end workflows creating more walkaway time for scientists who can now focus on data analysis, interpretation, planning and communication directly with customers,” said Jesse McCool, co-founder and CEO at Wheeler Bio (a revolutionary biomanufacturing company that integrates drug discovery with drug development to accelerate clinical impact.)
Big Pharma Relies on Synthace
Seven of the top 10 global pharmaceutical companies have also adopted Synthace’s next-gen R&D cloud platform to fundamentally change their experimentation process—and more are currently in evaluation. With Synthace’s automated experimentation solutions this growing community of customers run increasingly complex experiments and automatically generate data and insights, increasing their competitiveness and accelerating innovation.
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