— Financing to support expanded partnering opportunities with life sciences, health systems, regulators and molecular labs —
— Syapse committed to delivering real-world insights to improve outcomes for people with cancer —
SAN FRANCISCO and NEW YORK and HONG KONG, Feb. 02, 2021 (GLOBE NEWSWIRE) — Syapse®, a leading real-world evidence company accelerating the delivery of precision medicine through the Syapse Learning Health NetworkTM, today announced the closing of a $68 million growth equity investment to expand Syapse’s focus on providing real-world insights to partners and assist them in improving outcomes for people with cancer. The investment is led by Ally Bridge Group (ABG), with Northpond Ventures and existing investors also participating in the financing. Andrea Jackson, Director for Northpond Ventures, will be joining the Syapse Board of Directors.
“Ally Bridge is excited to fund Syapse’s highly scalable value-add business that is becoming embedded within leading-edge healthcare systems, and consequential to life science companies based on its ability to deliver real-world evidence (RWE) and to provide actionable treatment insights, which is exactly where precision medicine is heading,” said Frank Yu, Founder, CEO and CIO of Ally Bridge Group. “Our significant investment in Syapse represents a new milestone for Ally Bridge in increasingly RWE-driven precision medicine.”
Syapse has expanded its Learning Health Network by partnering with some of the nation’s leading community health systems to support precision medicine strategies that are directed at improving clinical outcomes, reducing costs and enhancing the experience of their patients. In addition, Syapse has added life sciences partnerships with established biopharmaceutical companies. Recently, Syapse and the U.S. Food and Drug Administration (FDA) expanded an existing research collaboration to address urgent public health challenges including the FDA’s goal to rapidly understand COVID-19.
“We are extremely pleased that Ally Bridge Group and Northpond Ventures embrace our vision of providing high-quality healthcare to cancer patients, and building a global network that integrates a great deal of provider-driven data to deliver actionable insights to health systems and their patients,” said Ken Tarkoff, chief executive officer of Syapse.
“Using real-world data and evidence to improve outcomes in cancer care is foundational for drug developers, regulators, doctors and caregivers. We are excited to be an investor in Syapse and I am looking forward to working with the Syapse Board and leadership team to advance their mission to improve outcomes for people with cancer,” said Jackson.
BofA Securities acted as a capital markets advisor to Syapse during the financing.
About the Syapse Learning Health Network™
This international network of healthcare providers enables improved cancer care by sharing real-world data to support clinical decisions and by fostering collaborations among participants. Healthcare providers, including doctors and nurses, share and learn which cancer treatments produced the best real-world outcomes in clinically and molecularly similar patients. Researchers learn from real-world clinical, molecular, treatment and outcomes data. These collaborations are enabled by a secure platform of shared de-identified data that is standardized and normalized across the Learning Health Network and complies with all applicable federal and state data privacy protection regulations.
Syapse works with leading health systems, life sciences companies, and regulators to accelerate real-world evidence to improve the outcomes of cancer patients. By bringing these organizations together into the Syapse Learning Health Network™, Syapse has built one of the world’s largest networks dedicated to improving outcomes in cancer care through improved precision medicine. Syapse and its partners are working towards a future in which all cancer patients have access to the quality of care they need.
About Ally Bridge Group
Ally Bridge Group (“ABG”) is a global healthcare-focused investment group founded by Frank Yu with dual headquarters in New York and Hong Kong. Mr. Yu and his team began their track record of successful healthcare investing in 2011 in China, and have since evolved to global healthcare investors. Today, ABG and its affiliates manage approximately $3 billion in assets and a portfolio of some of the world’s most novel life science companies and technologies in the United States, Europe and China.
About Northpond Ventures
Northpond Ventures is a global science, medical, and technology focused venture capital firm, with offices in Bethesda, Cambridge, and San Francisco. Northpond Ventures has in excess of $1 billion of committed capital. Our mission is to build a better tomorrow. Learn more at: npv.vc.
Source: Syapse Inc.