- Vineti, the leading digital platform of record for personalized therapeutics, announced it raised $35 million in Series C funding
Vineti — the leading digital platform of record for personalized therapeutics — announced it has closed a $35 million Series C round of funding to support further enhancement of the company’s automation and analytics offering, new software product development, and global commercial expansion. This round of funding was led by Cardinal Health with participation from Novartis Pharma AG and Kite (a Gilead Company) as well as existing investors Canaan Partners, Threshold Ventures (formerly DFJ), Section 32, LifeForce Capital, Casdin Capital, Hive Ventures, and other undisclosed entities. And a representative of Cardinal Health is going to join Vineti’s Board of Directors, and representatives of Novartis and Kite will join as board observers.
This round of funding will be used for further expanding Vineti’s platform – which is considered the only platform of record currently enabling both clinical and commercial personalized therapeutics like CAR T and allogeneic cell therapies — into other high-value and high-complexity therapeutic supply chains. Plus the funding will also support Vineti’s continued expansion in Europe and Asia-Pacific thus providing a global solution to industrialize personalized therapies in clinical through to the commercial stage.
The company’s coalition of new investors demonstrates the industry’s support for scaling the enabling infrastructure required to bring transformative personalized therapies to patients worldwide as well as recognition that the latest wave of personalized therapeutics requires built-for-purpose platforms and tools to ensure safety, access, and cost-effectiveness at scale.
Vineti has emerged as the platform and partner of choice in these rapidly expanding markets. And the U.S. Food and Drug Administration anticipates that it will approve 10 to 20 advanced therapies a year beginning in 2025. The agency also expects to receive up to 200 clinical trial applications for cell and gene therapies per year. There are over 1,050 advanced therapy clinical trials now underway worldwide, which could enroll almost 60,000 patients according to the Alliance for Regenerative Medicine.
“Those of us with experience in personalized therapeutics understand that innovative technology is required to support breakthrough science,” added Joe DePinto, President of Cardinal Health Specialty Solutions — who is joining Vineti’s Board of Directors. “Cardinal Health has led the industry in partnering with manufacturers to bring cell and gene therapies to market. Our investment in Vineti reflects our continued commitment to targeted medicine and our excitement about collaborating with other industry leaders to support the growth of this exciting field.”
With its investments in Vineti, Novartis Pharma AG and Kite will also be supporting the growth of enabling technology critical for the broad industrialization of personalized therapeutics.
“We are excited to partner with Vineti on its journey to provide the essential technology infrastructure required to scale personalized therapies,” explained Neil Tiwari, Managing Director of dRx Capital & CDO Venture Capital. “This requires enterprise-grade solutions that work broadly across the industry as a whole. A successful platform is one that engages all stakeholders: innovators, manufacturers, regulators, clinicians and payers, as Vineti is designed to do.”
Vineti’s software platform is built to move transformative new personalized therapies into mainstream medicine at scale while safeguarding patient safety and regulatory compliance, enabling standardization and reducing COGS. And the platform connects healthcare providers, suppliers, and biopharmaceutical pioneers in a powerful digital network with real-time access to data.
“Kite is committed to continuous innovation in platform services and logistics support to improve the cell therapy experience for patients and healthcare professionals,” stated Charles Calderaro III, Global Head of Technical Operations at Kite. “We are proud to have played a foundational role as Vineti’s first biopharma partner as we prepared for the launch of our first CAR T cell therapy and, looking forward, we are equally pleased to support Vineti through this venture investment as it continues to develop enabling software and systems that aid in the commercialization of cell therapies with potential to benefit patients.”
Vineti’s cloud-based fully configurable platform acts as the flexible and transparent “smart plumbing” across the value chain to assure Chain of Identity and Chain of Custody within the most complex supply chain, logistics, reimbursement, and patient-monitoring workflows in the history of biologics. And the platform will support clinicians and patients in hundreds of leading medical centers world-wide in 2020.
“We have entered the critical window as an industry to define the standards that will ensure continued growth,” explained Vineti CEO and co-founder Amy DuRoss, “Vineti was built for purpose to serve pioneers in personalized medicine who share this same commitment to industrialization and to redefining what is possible in the next wave of therapeutics. We are humbled and honored to grow Vineti’s leadership with such a world-class syndicate of partners aligned on our shared vision for industrializing personalized medicine.”