Pipelinepharma Closes €1.3M Seed Round to Shift Pharmaceutical Dealmaking Online
The European B2B pharmaceutical marketplace closed a venture seed round led by Practica Capital. Iron Wolf Capital, Pandos and a group of angel investors also participated in the funding round.
The investment will be realized to attract top talent to the engineering, data science, pharmaceutical sales and marketing teams, further building upon Pipelinepharma's mission - to make pharmaceutical products more affordable for every human on the planet.
"We are certain that future pharmaceutical B2B partnerships deals will take place online. The disruption of traditional dealmaking due to the pandemic only accelerated the shift to digital channels. Our database of vetted pharmaceutical products and qualified manufacturers accelerates product discovery, streamlines negotiations and significantly reduces business development costs",- noted co-founder and CEO of Pipelinepharma Mindaugas Zagorskis.
Pipelinepharma features one the largest databases of qualified finished dosage formulation products, with more than 60 000 pharmaceuticals from 1 300 qualified manufacturers - a list which is rapidly expanding every day.
In the words of Mindaugas Zagorskis, Pipelinepharma reduces time-to-term-
The seed round was led by Practica Capital, who were also the initial investors in the Pipelinepharma platform.
"The digital transformation of pharmaceutical commerce was long overdue. We regard this as one of the fastest growth areas in the digital healthcare landscape with Pipelinepharma well positioned to lead in this field", - noted Mr Tomas Andriuškevič
Iron Wolf Capital invested €450 000 in this round. In the words of Mr Žygimantas Susnys, a partner at Iron Wolf Capital, PipelinePharma has already made significant inroads in shifting pharmaceutical B2B dealmaking online.
"Pipelinepharma is introducing innovation into the €300B generic pharmaceutical market which still relies on supply contracts primarily sourced through offline events, trade fairs or pharmaceuticals brokers. With its marketplace, Pipelinepharma introduces business development simplicity into one of the key areas of global trade", - added Žygimantas Susnys.
About Pipelinepharma | https://www.pipelinepharma.com/
Pipelinepharma is a B2B pharmaceutical marketplace that connects pharmaceutical manufacturers with distributors around the globe. For platform sellers - pharmaceutical manufacturers, it helps to find qualified buyers, sign new licensing and supply agreements and launch new markets. For buyers - pharmaceutical companies, distributors, pharmacy chains, it helps faster to build a portfolio pipeline directly connecting them with qualified manufacturers.