Genemod – a cloud-based workspace collaboration software for biopharma R&D teams – announced it raised $4.5 million in seed funding co-led by defy.vc and LDV Partners with participation from Dolby Family Ventures and Vulcan/Cercano Ventures.
Over the past year, Genemod has expanded into the biopharma R&D space working with teams from startups to enterprise companies including AstraZeneca, Bristol-Myers, Merck, and more. And working across siloed spreadsheets, updating data in real-time, and collaborating on projects in disparate geographical locations are just several examples of how teams using Genemod are able to eliminate busywork and other barriers so they can focus on developments in biopharma.
The legacy R&D software and other traditional methods are decentralized, disorganized, and inefficient, resulting in higher healthcare costs. And Genemod is working to be the solution to this problem by building a dynamic cloud-based research platform designed for research teams to house their entire R&D lifecycle: from data acquisition and project documentation to inventory management and reporting. The intuitive interface enables users to easily visualize their data and track progress and updates – including what changes are made by whom.
Genemod is known for working to solve the reproducibility crisis – which is an ongoing phenomenon that continues to throw off research scientists. Reproducibility is essentially the ability to recreate the same experiment to achieve the same results. While this could sound simple in theory, disorganized data and a chronic lack of cloud-based organizational tools (among other issues) mean that experiment results continue to be inconsistent, costing the US government and researchers billions per year.
Discovery and clinical translation are no longer driven by siloed one-off experimentation but compounding from accelerating gains in scale of data, reproducibility, and fidelity of experiment.
The COVID-19 pandemic played a major role in accelerating Genemod’s innovation and development with Genemod playing an important role in aiding pandemic-related research. And the pandemic overall led to collaboration between an increasing number of companies and research teams in a variety of industries. This includes the pharmaceutical and biotech business, which are leaning into dynamic, market-driven solutions in order to meet ever-increasing global healthcare and environmental challenges.
KEY QUOTES:
“We believe that scientists must be empowered with tools to discover and develop medicines and ultimately get them to market faster than ever before. That’s why we built Genemod – to transform the way biopharma companies operate.”
— Jacob Lee, CEO and 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.”
— Jin Choe, Co-founder at Genemod
“Biotechnology is one of the fastest growing industries in existence, and the software that powers efficiency and communication in labs has the potential to radically transform the world. Genemod is positioned to solve some of the world’s most pressing problems in the coming decades, from pandemics and other diseases to climate change. We are pleased to be investing in this great team and company and look forward to partnering with them as they continue to scale and grow.”
— Neil Sequeira, Founder and Partner at defy.vc
