AllStripes, a platform that helps sufferers share their medical knowledge for analysis on uncommon illnesses, introduced it had raised $50 million in Sequence B financing.
The spherical was led by present investor Lux Capital, with participation from AZZ Enterprise Companions, Spark Capital, Medidata Options, McKesson Ventures and Maveron. Angel buyers embody Arif Nathoo, CEO of Komodo Well being, and Leila Zegna, director of the Kabuki Syndrome Basis.
WHAT IT DOES
AllStripes, previously generally known as RDMD, permits sufferers with uncommon illnesses to entry and submit their medical information so it may well de-identify and analyze their info for medical trials.
The corporate additionally companions with affected person advocacy teams for the 40 situations it serves.
“There are greater than 7,000 uncommon illnesses and solely 5 % have remedies. By working with AllStripes, we hope to enhance the variety of remedies accessible by accelerating analysis for uncommon illnesses,” Dr. James M. Wilson, Rose H. Weiss professor and director of the Orphan Illness Middle, which companions with AllStripes, stated in a press release.
WHAT IT’S FOR
AllStripes plans to make use of the capital to launch 100 new analysis packages, increase its international operations, improve its knowledge automation and proceed to enhance the platform’s person expertise.
“Starting analysis on a uncommon situation can really feel like being dropped into a brand new world and not using a map and we’re on a mission to alter that with knowledge,” CEO and cofounder Nancy Yu stated in a press release.
“We’re proud that so a lot of our present buyers have acknowledged the progress we’ve made and are persevering with to help our imaginative and prescient to rework uncommon illness analysis. This funding will enable us to raised help the uncommon illness group, the place every individual’s expertise is important to understanding illness development – in the end resulting in new remedies for uncommon illness sufferers across the globe.”
AllStripes was based in 2017 by Yu and Onno Faber, who has neurofibromatosis sort 2, a uncommon illness that solely impacts about one in 33,000 individuals worldwide. In 2018, the corporate raised $3 million in seed funding.
In 2020, AllStripes raised one other $14 million in Sequence A funding and introduced Nabeel Hyatt, basic companion at Spark Capital, would be part of the board of administrators after Spark led the funding spherical.
Different well being tech firms focusing on uncommon illnesses embody Healx and Raremark. In 2019, Microsoft, Takeda and Eurordis introduced a suggestion report and three digital well being pilots as a part of their partnership to diagnose youngsters with uncommon illnesses.