AllStripes Announces $50 Million Series B Financing to Advance Global Rare Disease Research
AllStripes ("Company"), a healthcare technology company dedicated to unlocking treatments for people affected by rare diseases, today announced the Company completed a $50 million Series B financing round.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210824005315/en/
Nancy Yu, AllStripes CEO and Co-founder (Photo: Business Wire)
The financing was led by Lux Capital, a current investor, joined by JAZZ Venture Partners, Spark Capital, Medidata Solutions (a Dassault Systèmes (News - Alert) company), McKesson Ventures, and Maveron, along with angel investors including Arif Nathoo, CEO of Komodo Health, and Leila Zegna, Director of the Kabuki Syndrome Foundation.
The funding will support launching 100 new rare disease research programs while expanding global operational footprint, technology and data automation enhancements to improve research insights, further developing the platform capabilities to enhance the user experience and strengthen the life sciences offerings, and continuing to invest in growing the company's team to support creating the playbook for rare disease research.
"Beginning research on a rare condition can feel like being dropped into a new world without a map and we are on a mission to change that with data," said Nancy Yu, CEO and Co-founder, AllStripes. "We're proud that so many of our current investors have recognized the progress we've made and are continuing to support our vision to transform rare disease research. This investment will allow us to better support the rare disease community, where each person's experience is essential to understanding disease progression - ultimately leading to new treatments for rare disease patients around the globe."
"AllStripes has a successful track record of bringing together patient organizations, families, experts and life science partners to advance research," said Adam Goulburn, Partner, Lux Capital and AllStripes board member. "If we are goig to improve rare disease treatments, these groups must work together. We believe in AllStripes' vision to transform rare disease research and empower patients. If the past year showed us anything, it is that patients want a voice when it comes to their health, and their engagement with research is invaluable."
"There are more than 7,000 rare diseases and only 5 percent have treatments. By working with AllStripes, we hope to improve the number of treatments available by accelerating research for rare diseases," said James M. Wilson, M.D., Ph.D., Rose H. Weiss Professor and Director, Orphan Disease Center; Director, Gene Therapy Program at the University of Pennsylvania; Professor in Departments of Medicine and Pediatrics, Perelman School of Medicine.
AllStripes is currently partnering with more than 30 patient advocacy organizations across its 40 conditions, supporting more than 3,000 users to date. As a public benefit corporation (PBC), AllStripes is advocating for the importance of real-world evidence in development of treatments and is continuing to build tools that make research more inclusive for the global rare disease community. The Company is committed to transparent data collection and sharing data across the life sciences continuum to advance clinical research.
AllStripes collaborates with various biopharmaceutical companies and other entities on real-world evidence studies, including: HemoShear Therapeutics, Inc., Orphan Disease Center at the University of Pennsylvania, Taysha Gene Therapies, Inc., UCB Biopharma SRL, and Novartis Pharma AG. These joint research programs aim to enhance clinical understanding of rare disease treatment research. AllStripes and the University of Pennsylvania's Orphan Disease Center are focused on clinical understanding of Lesch-Nyhan disease and Crigler Najjar syndrome type 1, with the goal of facilitating therapeutic discovery for both conditions. One of AllStripes' most recent partnerships with HemoShear Therapeutics aims to gather real-world evidence on patients' medical experience with serious metabolic diseases through the Journey to Understand MMA and PA (JUMP) study.
To learn more about AllStripes, its partners and its commitment to the rare disease community, please visit allstripes.com.
About Lux Capital
JAZZ Venture Partners
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