May 4, 2023, SEATTLE — Genemod, a cloud-based workplace collaboration tool for biopharma R&D teams, revealed today that it has raised USD 4.5 million in seed funding. Dolby Family Ventures and Vulcan/Cercano Ventures also participated in the round, which defy.vc and LDV Partners co-led.
Genemod has diversified into biopharma R&D during the past 12 months, collaborating with teams from start-ups to large corporations like AstraZeneca, Bristol-Myers, Merck, and others. Teams utilizing Genemod can minimize busywork and other hurdles so they can concentrate on breakthroughs in biopharma. Examples include working across siloed spreadsheets, updating data in real-time, and collaborating on projects in different geographic areas.
The CEO and co-founder of Genemod, Jacob Lee, stated, “We believe that scientists should be empowered with tools to discover and develop medicines and ultimately get them to market faster than ever before.” That is why we created Genemod, to revolutionize how biopharma companies run their businesses.
The decentralized, disorganized, and inefficient nature of legacy R&D software and other conventional approaches ultimately causes higher healthcare expenses. Genemod is developing a dynamic cloud-based research platform enabling research teams to house their entire R&D lifecycle, from data acquisition and project documentation through inventory management and reporting, to be the solution to this issue. Thanks to the user-friendly interface, users can quickly visualize their data, following modifications and progress, and identify who is responsible for what changes.
According to Jin Choe, co-founder of Genemod, “Genemod aims to be the go-to standard for research scientists just as how designers use Figma and engineers use Jira.”
The “reproducibility crisis,” an ongoing issue that research professionals are still plagued with, is another problem that Genemod is attempting to resolve. The capacity to repeat an experiment and have the same outcomes is known as reproducibility. While this may appear straightforward in theory, experiment results continue to be inconsistent, costing the US government and researchers billions of dollars yearly. This is due to too disorganized data and a persistent lack of cloud-based organizational tools.
Discovery and clinical translation are now compounded by growing improvements in data scale, reproducibility, and experiment quality rather than being driven by isolated, one-off testing.
The COVID-19 pandemic has been crucial in fostering Genemod’s innovation and growth, with Genemod also contributing significantly to pandemic-related research. Overall, the pandemic encouraged collaboration between an expanding number of businesses and research teams across numerous industries. Among them are the pharmaceutical and biotech industries, which are relying on innovative, market-driven solutions to address the growing issues in the global healthcare and environmental sectors.
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