Scientist.com teams up with VC firm to create marketplace for biotech

By Melissa Fassbender

- Last updated on GMT

(Image: Getty/VasylDolmatov)
(Image: Getty/VasylDolmatov)
The online marketplace for outsourced R&D services Scientist.com partners with 5AM Ventures to help researchers save time and money – as the industry is "caught between a rock and a hard place," says CEO.

The venture capital (VC) firm specializing in building early-stage biotech companies, 5AM Ventures, co-led an equity investment in Scientist.com in 2017. The company since its foundation in 2002 has raised approximately $1.5bn and invested in 77 companies.

5AM recently launched its "4:59 Initiative," which aims to “jumpstart” seed stage companies with little or no physical lab infrastructure, according to the company. Through its partnership with Scientist.com, these companies now can use the 5AM-branded R&D marketplace to procure outsourced services.

“R&D marketplaces like Scientist.com make it easy for start-up company researchers to connect with experts, design experiments, and then purchase outsourced R&D services on demand,” ​Kevin Lustig, PhD, Scientist.com​ CEO and founder, told us.

The pharmaceutical industry is caught between a rock and a hard place. The industry needs to somehow create more drugs but spend less money doing so,”​ he added.

Lustig said, “R&D marketplaces are the only general solution to this major challenge. Marketplaces allow researchers to save time, save money, access innovation, and ensure compliance with internal and external regulations, all at the same time.”

Since it was founded in 2007, Scientist.com has raised $32m from Leerink Transformation Partners, Heritage Provider Network, 5AM Ventures, and others.

Related news

Related products

show more

Reliability, scale, and security of supply

Reliability, scale, and security of supply

Content provided by Univar Solutions USA | 28-Aug-2024 | Product Brochure

Univar Solutions Pharmaceutical Ingredients is proud to offer one of the most expansive portfolios of 15,000+ products, including high-purity solvents,...

Saama accelerates data review processes

Saama accelerates data review processes

Content provided by Saama | 25-Mar-2024 | Infographic

In this new infographic, learn how Saama accelerates data review processes. Only Saama has AI/ML models trained for life sciences on over 300 million data...

More Data, More Insights, More Progress

More Data, More Insights, More Progress

Content provided by Saama | 04-Mar-2024 | Case Study

The sponsor’s clinical development team needed a flexible solution to quickly visualize patient and site data in a single location

Related suppliers

Follow us

Products

View more

Webinars