Pipelinepharma, a European B2B pharmaceutical marketplace, closed a venture seed round led by Practica Capital. The marketplace has facilitated pharmaceutical product licensing, supply, acquisition deals of more than €200 million in value, covering more than 30 markets on five continents.
The investment will help attract talent to the engineering, data science, pharmaceutical sales and marketing teams, building on Pipelinepharma’s mission to make pharmaceutical products more affordable.
“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,” said Mindaugas Zagorskis, Co-founder and CEO of Pipelinepharma.
Pipelinepharma features one the largest databases of qualified finished dosage formulation products, with more than 60,000 pharmaceuticals from 1,300 qualified manufacturers, while continuing to expand. Each product features up-to-date data, including country of origin, dossier type, GMP approvals and more, which significantly reduce the product discovery and dossier auditing time.
Žygimantas Susnys, a partner at Iron Wolf Capital, said: “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”.
