A life sciences software company enabling scientists to automate biology experimentation has raised £26 million.
Synthace, based in London, is plotting commercial and go-to-market growth with the Series C funding as it looks to radically reinvent the full value chain of life sciences R&D.
The company also plans to expand its senior leadership team in the US, with new vice presidents of marketing and sales joining the US-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 CEO Guy Levy-Yurista.
“But to maximise 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.”
The biopharmaceuticals industry is at the forefront of helping the world combat both existing and new illnesses and biological challenges. However the cost of bringing them to market at speed can be massive, with McKinsey estimating the average cost at $2.6 billion.
Synthace’s life sciences R&D cloud is a no-code software platform that addresses simplification, speed and reproducibility for scientists, thereby removing barriers to innovation. It says 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.
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.
Thomas Burt, partner at Sofinnova’s Crossover Fund, added: “We believe Synthace’s cloud platform will be a game changer for life sciences R&D, allowing researchers to solve larger, more complex problems faster and more effectively.
“Building on our decades of experience funding innovative life science companies, we’re thrilled to partner with Synthace and help unlock the potential of this ambitious, high-growth company.”