LONDON & BOSTON– Synthace, the first life sciences software company to enable scientists to automate biology experimentation and insight sharing in a unified, global R&D environment today 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’s R&D cloud platform is helping life scientists completely change the way they develop new cures 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 drugs and alternative food sources.”
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.
