Biotechspert is developing a freelance consultancy platform that seeks to instantly connect businesses with leading experts in the bioscience sector, driving innovation, growth and investment.
Biotechspert completed its funding round on SyndicateRoom in September 2017, raising £236,099.
The healthcare and life sciences sector is a multi-trillion-dollar industry globally, with the global healthcare consulting market valued at just over $6bn in 2015. A 2017 report by IBIS World indicates that the demand for healthcare consultants has increased in the past several years due to technological advances in the sector and the changing regulatory environment. The CAGR over 2012–17 has been 7.1% according to the same source. With this in mind, access to opinion of world-leading specialists in a variety of niche fields in this industry forms one of the key market drivers for innovation, growth and investment.
Biotechspert is an analytics platform that automates identification of leading scientific and clinical specialists. According to the company, traditional methods of connecting to specialists are longwinded and labour-intensive, hindering effective progress across the industry, from VC firms through to big pharma.
Biotechspert facilitates access to specialist technical, scientific and commercial expertise on a global scale. Biotechspert has developed algorithms to identify, map and rank experts in very specific market niches. For instance, a VC associate in need of quickly speaking to some key opinion leaders regarding a new pathway in cystic fibrosis may choose to pay Biotechspert to identify the leading experts in this field and connect with them over the phone.
The company intends to integrate the technology within its platform to automate end-to-end connections worldwide, driving innovation, growth and investment. Biotechspert plans to use funds raised in order to make strategic hires, further optimise proprietary algorithms and support business development.
January 2018 update
- Biotechspert has developed proprietary machine learning algorithms for rapidly identifying and soliciting world-leading experts in any niche healthcare and life sciences field, in any country.
- The company are using this technology to provide a tech-enabled connections service to our clients and are developing an integrated SaaS product to fully automate the process on a global scale, on track to launch in March 2018.
- In December 2017, Biotechspert connected their clients to over 35 world leaders in niche fields including orthopaedic knee surgeons in Japan, Aesthetic plastic surgeons in Mexico; and geneticists specialising in specific viruses.
- Client base has grown to include leading life sciences consultancies, investors and healthcare insurance firms both in Europe and the US.
- Revenue increased at an average rate of 20% per week during the last 8 weeks of 2017, and there is a significant pipeline of future clients.
- Following the successful raise of £236k during their first seed round via Syndicate Room in September 2017, Biotechspert aim to raise further capital to scale to meet the increasing demand and to expand into additional sectors later in 2018.
Biotechspert was founded by COO Graham Mills and CEO David Holden-White, because they both felt there was a significant challenge with accessing specialist expertise in the sector from investor and SME perspectives.
Since graduating from Oxford with a First Class Master's in Biochemistry, David has continued to work in the field of biotech innovation. He spent two years at Carpmaels and Ransford as a Patent Attorney specialising in biotechnology, gaining intellectual property certification from Queen Mary’s University. He subsequently moved to Cambridge and completed the Bioscience Enterprise Master's. For the past two years, David worked in corporate development for Psyomics, a Cambridge-based diagnostics company, helping the company grow from pre-seed through to recent Series A. Since April 2017 he has been dedicated full-time to Biotechspert.
The lead investor
Zack Feather founded Asclepius Global, a healthcare staffing and IT consultancy, in 2006. The company grew rapidly to achieve revenues in excess of £60m in 2013, when it was acquired by private equity firm Blackstone. Zack is a global leader in the healthcare recruitment and analytics field and currently sits on the board of five companies in the sector including Coben Medical, Draper and Dash, and Umed.
Staying ahead in the rapidly evolving healthcare and life sciences sector requires rapid access to the world-leading scientific, technical and clinical specialists, in precisely the required niche… current solutions are longwinded and labour intensive.
Zack Feather, Biotechspert lead investor