AllStripes Raises $50 Million to Advance Global Rare Disease Research
August 24, 2021
AllStripes announced a $50 million series B financing round to help unlock treatments for people affected by rare diseases.
Lux Capital led funding, joined by Jazz Venture Partners, Spark Capital, Medidata Solutions, McKesson Ventures, Maveron, along with angel investors including Komodo Health CEO Arif Nathoo, and Kabuki Syndrome Foundation Director Leila Zegna.
AllStripes has developed a technology platform that generates regulatory-ready evidence to accelerate rare disease research and drug development, as well as a patient application that empowers patients and families to securely participate in treatment research online and benefit from their own medical data. The company was founded by CEO Nancy Yu and technology developer Onno Faber, following Faber’s diagnosis and journey with the rare disease neurofibromatosis type 2.
The funding will support launching 100 new, rare disease research programs while expanding the company’s 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 Yu, AllStripes CEO and co-founder. “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 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), the company advocates for the importance of real-world evidence in the development of treatments and continues to build tools that make research more inclusive for the global rare disease community. AllStripes is committed to transparent data collection and sharing data across the life sciences continuum to advance clinical research.
Collaborators include HemoShear Therapeutics, Orphan Disease Center at the University of Pennsylvania, Taysha Gene Therapies, UCB Biopharma, and Novartis Pharma. 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.
Author: Rare Daily Staff
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