AllStripes Announces $50 Million Series B Financing to Advance Global Rare Disease Research

Rhea-AI Summary

AllStripes has successfully completed a $50 million Series B funding round, led by Lux Capital and supported by JAZZ Venture Partners and others. This financing aims to launch 100 new rare disease research programs and enhance the company's technology and operational capabilities. Currently partnering with over 30 advocacy organizations, AllStripes strives to improve research insights and empower patient engagement in rare diseases. The investment aims to increase treatment options for patients, addressing the 7,000 rare diseases with only 5% having available treatments.

Positive

• Raised $50 million in Series B financing.
• Funding to launch 100 new rare disease research programs.
• Partnership with over 30 patient advocacy organizations to enhance research.
• Commitment to improving real-world evidence in treatment development.

Negative

• None.

Lux Capital Led Funding, Joined by JAZZ Venture Partners

Financing to Advance AllStripes’ Capabilities and Launch New Rare Disease Research Programs

SAN FRANCISCO--(BUSINESS WIRE)-- 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.

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 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 going 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 AllStripes
AllStripes is a healthcare technology company dedicated to unlocking new treatments for people with rare diseases. 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. AllStripes was founded by CEO Nancy Yu and technology developer Onno Faber, following his diagnosis and journey with the rare disease neurofibromatosis type 2. The company is backed by Lux Capital, JAZZ Venture Partners, Spark Capital, Medidata Solutions, McKesson Ventures, Maveron, and a number of angel investors. For more information, visit www.allstripes.com.

About Lux Capital
Lux Capital invests in emerging science and technology ventures at the outermost edges of what is possible. We partner with iconoclastic inventors challenging the status quo and the laws of nature to bring their futuristic ideas to life. Over the past two decades, Lux has expanded from its New York City roots to Silicon Valley, and built a $4 billion AUM firm of more than 30 full-time professionals, with the versatility to invest at any stage.

JAZZ Venture Partners
JAZZ Venture Partners invests in companies that extend the boundaries of human performance — improving how we live, learn, work, play, and experience the world. JAZZ seeks breakthroughs at the frontiers of technology and science, such as advances in artificial intelligence, neurobiology, augmented reality, and closed-loop human-computer systems. JAZZ portfolio companies are unlocking human potential in health, mind-body wellness, accelerated learning and training, sports, entertainment, and the enterprise. More information about JAZZ can be found at www.jazzvp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210824005315/en/

Media Contact

Rachel Ford Hutman

Ford Hutman Media

+1-301-801-5540

rachel@fordhutmanmedia.com

Source: AllStripes

FAQ

What was the amount raised in AllStripes' latest funding round?

AllStripes raised $50 million in its Series B funding round.

Who led the funding for AllStripes?

Lux Capital led the Series B funding for AllStripes.

What will the funding be used for at AllStripes?

The funding will be used to launch 100 new rare disease research programs and improve technology and operational capabilities.

How many rare diseases are currently being researched by AllStripes?

AllStripes is partnering with over 30 patient advocacy organizations to support research on 40 conditions.