- Synapse Medicine today announced a new round of funding of €25M, led by Korelya Capital, the investment fund created by Fleur Pellerin, who is joining the board of the company. Its historical investors (XAnge, MACSF, BNP Paribas Développement) complete the funding round. Mutuelles Impact is also contributing to the financing round as a new investor. It is the 3rd round of fund-raising in 3 years for the start-up, with a total of €35M.
- The objective is to speed up deployment of its Medication Intelligence platform for the proper use of medicines in Europe, the United States and Japan. Clement Goehrs, co-founder and CEO, and also a doctor and graduate of Stanford University, will continue the development in the United States by creating the New York office.
- The company intends to triple its workforce to bring it to 150 people, with recruitment planned in Paris, Bordeaux, Berlin, London, New York and Tokyo over the next two years.
BORDEAUX, France, March 1, 2022 /PRNewswire/ —
Develop international leadership around the proper use of medicines
The proper use of medicines is a global health issue. In the United States, medicine related adverse events are the reason for 1.3 million visits to accident and emergency and 350,000 hospital admissions every year, with an estimated global cost of over 528 billion dollars. In Europe, medicine related adverse reactions occur in 8% to 12% of hospital admissions. In France, that amounts to 30,000 avoidable deaths and 150,000 avoidable hospital admissions every year.
To respond to this problem, Synapse Medicine is developing technologies for health institutions (ANSM, ANS), hospitals (AP-HP), Hospices Civils de Lyon (public university teaching hospital), Institut Gustave Roussy etc), health tech players (MesDocteurs, Teladoc Health..) and the general public (Matmut..) personalized to their requirements. All of these can be accessed through its SaaS platform which is based on its proprietary «Medication Intelligence» technology. Composed of artificial intelligence algorithms, it provides a complete view of medicine related information, thereby facilitating decision making for health professionals. Synapse Medicine is therefore involved in every step of the care pathway, by enabling patient-appropriate treatment. With a wealth of experience in proven technological leadership and excellent commercial traction in France, the company is now deploying in the United States, Europe and in Asia via key partnerships with both public and private institutions.
Recruit new talent to join a company with impact
In a phase of phenomenal growth for 3 years, Synapse Medicine intends to continue recruiting new talent in France and abroad to reach 150 employees through the opening of subsidiaries in Europe, the United States and Japan. The head office and primary hub of the company will remain in Bordeaux. Today the team is composed of experienced individuals who are all united in the desire to help healthcare professionals and patients on a daily basis. The team has already demonstrated that it was capable of having a strong positive impact on the health system; during the pandemic the company illustrated this by first helping over one million French people through its «covid-19-medicines.com» initiative, followed by the national deployment of its «Medication Shield» in collaboration with the ANSM (National Agency for the Safety of Medicines) to facilitate the management of adverse reactions for the vaccination campaign. This initiative resulted in the company being an e-health award winner of the prestigious Galien award in 2021.
"We have been deeply impressed by the founders’ vision and their early understanding of how powerful medication data could protect patients and support all stakeholders in healthcare industries across the world. We look forward to supporting the Synapse Medicine team in the US and Asia." said Fleur Pellerin, Chairman, and co-founder of Korelya Capital.
"We are once again supporting the deployment of Synapse Medicine, a start-up that we spotted at a very early stage. At that time, we were already impressed by the founders, who represent a new generation of entrepreneurial doctors, and by the real impact of the product in terms of public health. The participation of Mutuelles Impact in this round, managed by XAnge, will allow us to develop the connections with insurance companies and to disseminate the technology to the public at large." explains Guillaume Meulle, Managing Partner of XAnge.
"I am very proud of the entire Synapse Medicine team, of its values and of what it has accomplished up to today. This fund-raising will enable us to reinforce the team and continue to help health professionals and patients globally" says Clement Goehrs, CEO and co-founder of Synapse Medicine.
About Synapse Medicine:
Synapse Medicine’s mission is to provide everyone access to the best medicine. The startup, which collaborates closely with the largest French university hospitals, has developed a Medication Intelligence platform dedicated to proper drug use. As a leader in its category, the solution is 100% independent from the pharmaceutical industry and is used today by thousands of healthcare professionals.
Press contact: Nadjib Bennaï - Head of Marketing ; +33 7 87 04 74 73 ; [email protected]
About Korelya Capital:
Founded and chaired by Fleur Pellerin, former French Minister of Digital Economy and Culture, Korelya Capital is a late-stage venture fund with €500m under management and offices in Paris, London, and Seoul. Since its launch in 2016, Korelya Capital has notably invested in several European tech champions who have reached unicorn status (Vestiaire Collective, Glovo, Bolt, Ledger…). Korelya Capital supports growth companies in their development with the ambition to create a strong European tech scene, notably through valuable support in Asia via its Seoul office and extensive network. www.korelyacapital.com
About XAnge :
XAnge is a leading European venture capital firm based in Paris and Munich. We invest in European early-stage innovative technology companies operating in the fields of Digital consumer, Enterprise & Data, Fintech, and Deeptech. Since its creation in 2003, XAnge has backed more than 200 fast-growing companies in their entrepreneurial journeys. We work alongside visionary founders with strong values and International ambitions such as Gleamer, Implicity, Treefrog, MDoloris...XAnge is the Venture arm of Siparex, an independent investment group with €2Bn under management
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