Vineti, a digital cell and gene therapy management platform, announced the closing of a $33 million extension to its Series C financing round.
In February 2020, the company announced a $35 million Series C financing round. The latest extension brings the total Series C round to $68 million.
Founded in 2016, Vineti has raised over $115 million to date. The company employs more than 100 people with an office in San Francisco, California.
The Series C extension was led by Cardinal Health, with participation from Marc Benioff and existing Vineti investors, including Canaan Partners, Threshold Ventures (formerly DFJ), Section 32, Casdin Capital, Novartis Pharma AG, McKesson Ventures, and LifeForce Capital, along with other undisclosed entities.
As part of the investment, Eli Casdin, Chief Investment Officer, and Founder of Casdin Capital, will join the Vineti Board of Directors.
Vineti offers an enterprise personalized therapy management platform that enables the wide distribution of transformative personalized therapeutics, such as CAR-T cell therapies, to treat late-stage cancer. According to the company, the platform automates patient-centric supply chains for a wide range of advanced therapies in all phases of clinical development and commercial operations.
The company is currently serving patients, healthcare providers, and researchers in medical centers and manufacturing centers worldwide, on behalf of a growing number of biopharmaceutical partners.
“2020 has driven one key point home – the continued success of advanced therapies relies on standardized, dependable infrastructure,” said Amy DuRoss, CEO and Co-Founder at Vineti.
“Vineti was built for purpose to serve personalized medicine. We are now very humbled and honored by the direct support of key industry leaders, including a biopharmaceutical commercialization standard-setter and an enterprise cloud computing pioneer.”
Healthcare Practice Management Software companies raised more than $500 million in the first nine months (9M) of 2020, according to the latest Marcom 9M 2020 digital health funding report. Recently, Olive, an AI-enabled workflow automation software for hospitals, secured $106 million in funding, bringing its total funding to over $220 million to date.
Image Credit: Vineti