Kythera Labs – a leading healthcare technology and data analytics company for the Healthcare and Life Sciences industries – recently announced $20 million in Series A and debt financing from BIP Ventures and CIBC. The company will use the funding to support the continued growth and scale of Wayfinder, which is its data-transforming technology platform, and accelerate the development and adoption of new and existing offerings. Plus, Kythera also plans to leverage financing to expand partnerships with industry leaders such as Datavant and Databricks.
For the first half of this year, Kythera has achieved unprecedented growth. And Kythera expects a 41% CAGR this year and has seen a 245% year-over-year increase in platform utilization. Kythera has appointed a new Chief Science Officer (CSO) to lead Life Sciences and BioPharma initiatives and a Chief Commercial Officer (CCO) to accelerate business growth.
Kythera Labs’ data technology platform Wayfinder offers access to real-world healthcare data spanning over 8 years, including over 320 million lives with 29.3 billion encounters. And Wayfinder (built on Databricks) supports enterprise-grade scalability. Wayfinder corrects, enhances, and adds new dimensions to healthcare data with a dynamically improving common data model that facilitates data integration. This platform provides benefits to Life Sciences’ market access and commercial segments with immediate access to high-fidelity analytics and RWD that accelerates and improves therapy innovation and patient outcomes.
Roivant Sciences has adopted Kythera Labs’ platform and refined analytics to support its pre-commercialization activities more efficiently and accurately.
KEY QUOTES:
“As investors in Life Sciences solutions and transformational technology platforms, we immediately saw the massive impact Kythera Labs has on changing how Life Sciences companies and Healthcare providers use Real-World Data (RWD) to accelerate solutions. We are thrilled to be partnering with the Kythera Labs leadership team to help them build on their existing momentum.”
— BIP Ventures Partner Austin Poole
“We have an amazing opportunity to redefine how Life Sciences and Healthcare providers access the data they need for conducting research and developing new therapies. Eliminating data silos and reducing the uncertainty found in massive amounts of data will lead to the discovery of what’s hidden in the data and unlock the true potential of RWD.”
— Jeff McDonald, Co-Founder and CEO of Kythera Labs
“Since partnering with Kythera Labs, we have saved a significant amount of time and resources. The combination of high-quality data that is intuitively organized enables our pre-commercial and commercial teams to easily and quickly find the information they need. We believe this partnership fundamentally can change how we interact with healthcare data.”
— Brett Venker, Head of RWE, Roivant Sciences
