Scientist.com (company)

Scientist.com
Private
Industry Science
Online marketplace
Founded 2007
Founders Kevin Lustig, Chris Petersen, Andrew Martin
Headquarters Solana Beach, California, United States
Key people
 Kevin Lustig (Founder & CEO)
Chris Petersen (Founder & CIO)
Daniel Kagan (COO)
Number of employees
 50 (August 2017)
Website scientist.com

Scientist.com (formerly known as Assay Depot) is a network of public and private e-commerce marketplaces that connect buyers and sellers of scientific research services.[1][2][3] The company was founded in 2007 by Kevin Lustig, Chris Petersen and Andrew Martin and launched its first public research marketplace in September 2008.[4][5][6][7]

History

Research marketplaces make it possible for scientists to use contract research organizations (CROs) to outsource an entire pharmaceutical drug discovery project without requiring physical access to a laboratory.[8][9][10][11][12] The company has been referred to as the “Amazon.com for medical research,” “A Home Depot for science and medicine” and the “EBay for drug discovery services."[2][7][13][14] In 2011 and 2012, Scientist.com launched outsourcing marketplaces for the large pharmaceutical companies Pfizer and AstraZeneca, respectively.[1][15][16][17][18][19] The marketplace was featured in a 2012 TEDMED talk given by then-Stanford University professor Atul Butte.[14][20] In 2013, the company launched a private academic marketplace for the National Cancer Institute.[21] By June 2016, when the company rebranded as Scientist.com, it operated private research marketplaces for 10 pharmaceutical companies and the US National Institutes of Health.[21][22] In 2017, Scientist.com rolled out a series of new marketplace features to attract more customers, including COMPLI, a comprehensive process that oversees the legal and ethical acquisition of biological specimens for scientific research.[23][24] The company also started a branded YouTube channel in 2017 to highlight company growth and new technologies. By the end of 2017, the company operated private marketplaces for most of the world’s major pharmaceutical companies and entered into a collaboration with VWR International to create an end-to-end research solution.[25] In 2018, Scientist.com launched DataSmart, a platform to ensure data and information integrity; DataSmart is based on proprietary blockchain technology developed by Scientist.com.[26][27][28]

Awards

In 2013, Lustig was named “San Diego’s Most Admired CEO” by the San Diego Business Journal, and that same year he was one of five national finalists for Entrepreneur magazine’s Emerging Entrepreneur of the Year Award.[29][30] Lustig was twice recognized as one of the life science industry’s “100 Most Inspiring People” by PharmaVoice magazine in 2012 and 2013.[31][32] In 2013, Petersen received the CIO 100 Award, and in 2014, he was named one of “San Diego’s Top Tech Execs” by the San Diego Business Journal.[33] The company also won the San Diego Business Journal’s 2014 Innovation Award.[34] In 2015, the company was named one of Entrepreneur magazine’s Best Entrepreneurial Companies in America.[35] In 2017, Scientist.com ranked no. 155 on Inc. magazine’s list of the 5000 Fastest-Growing privately-owned companies in America.[36] Scientist.com was chosen for Inc. magazine's list of Best Workplaces of 2018.[37] Scientist.com was ranked by San Diego Business Journal as the 2nd Fastest-Growing Private Company[38][39] 2018. Scientist.com was ranked as the 9th company on Inc. magazine's list of the 5000 Fastest-Growing privately-owned companies in the US.[40]

Business model

Scientist.com is a procure-to-pay B2B e-commerce marketplace. Research customers use the marketplace to design, purchase and pay for custom research services and products. Research suppliers, or contract research organizations (CROs), use the marketplace to communicate with customers, submit quotes, receive orders and submit invoices.[1][8][41] Scientist.com receives a transaction fee on all marketplace purchases.

Projects

Rare Disease Challenges

In 2013, Scientist.com partnered with the Rare Genomics Institute to create and run a science challenge called Be HEARD (Helping Empower and Accelerate Research Discoveries).[9][42][43] Half a million dollars worth of scientific services, ranging in value from $2,500 to $75,000, were awarded to 26 rare disease researchers.[44][45] In 2015, the Be HEARD science challenge resulted in over $600,000 in awards to 31 rare disease research programs.[46] In 2017, Scientist.com partnered with Global Genes to sponsor the “RARE Battle of the Brains,” a Shark Tank-style pitch competition between early-stage innovators from biotech and academia.[47]

Open Science Challenges

In 2012, Scientist.com partnered with Biocurious in the Bay Area and Genspace in New York to run open science challenges for citizen and young scientists.[48][49]

Investors

The company raised $1.8M in October 2007 from family and friends.[5] In June 2011, the company raised $1.7M from Hollywood producer Jack Giarraputo and friends. In March 2014, the company raised $3.4M in financing led by Jean Balgrosky of Bootstrap Ventures.[50][51] In May 2017, the company raised $24M in an equity financing co-led by Boston-based Leerink Transformation Partners (LTP) and San Francisco and Boston-based 5AM Ventures; new investors included Heritage Provider Network and existing investors Bootstrap Ventures and Jack Giarraputo also participated.[52][53]

References

  1. 1 2 3 Bigelow, Bruce V. (30 July 2012). "San Diego's Assay Depot Unveils Online Exchange for AstaZeneca's R&D". Xconomy. Retrieved 6 August 2016.
  2. 1 2 Naggapan, Padma (31 January 2012). "Company 'Democratizes Science' with Cloud-Based Research Exchanges". San Diego Source. San Diego Source. Retrieved 7 August 2016.
  3. ↑ Timpsen, Theral (29 April 2012). "Opening up the World of Drug Discovery: Assay Depot's Kevin Lustig". Mendelspod.com. Mendelspod.com. Retrieved 7 August 2016.
  4. ↑ Barnes, Kristy. "Online Drug Discovery Services Database to Be Launched". outsourcing-pharma.com. William Reed Business Media. Retrieved 10 July 2017.
  5. 1 2 Bigelow, Bruce V. (17 December 2009). "Assay Depot Founders Morphed Their Biotech Startup Into e-Commerce Provider of Drug Discovery Services". Xconomy. Retrieved 6 August 2016.
  6. ↑ Akst, Jeff (1 February 2010). "The Matchmaking Market". The Scientist. The Scientist. Retrieved 6 August 2016.
  7. 1 2 Taylor, Phil (16 September 2008). "Assay Depot: 'Ebay' of Drug Discovery Services Debuts". Outsourcing-Pharma.com. Outsourcing-Pharma.com.
  8. 1 2 Timmer, John (21 February 2012). "How to Run a Successful Research Lab Without Having a Lab". Arstechnica.com. Arstechnica.com. Retrieved 7 August 2016.
  9. 1 2 Lustig, Kevin (August 2013). "Oncology Outsourced: An Emerging Research Model". DDNEWS. DDNEWS. Retrieved 7 August 2016.
  10. ↑ Glance, David (6 May 2016). "New Drugs Using Only a Computer, the Internet and Free Online Data". MedicalXpress.com. MedicalXpress.com. Retrieved 7 August 2016.
  11. ↑ Lim-Wilby, Marguerita; Stevens Jr., William C. (2011). Pharmaceutical Outsourcing: Discovery and Preclinical Services. San Diego, CA: Pharmamedia, Inc. pp. 230–242. ISBN 978-0-9849049-0-7. Retrieved 7 August 2016.
  12. ↑ Lustig, Kevin; Thompson, Maria; Gul, Sheraz (20 February 2013). "The Evolution of the Contract Research Organisation and the Future of the Pharmaceutical Industry". European Pharmaceutical Review.
  13. ↑ Fung, Brian (13 April 2012). "Have You Heard of Assay Depot? It's the Amazon.com of Medical Research". The Atlantic. The Atlantic. Retrieved 7 August 2016.
  14. 1 2 Butte, Atul (2012). "What if You Outsource Three Double-Blind Mice?". TEDMED. TEDMED. Retrieved 7 August 2016.
  15. ↑ Bigelow, Bruce V. (11 July 2011). "San Diego's Assay Depot Creates Private e-Commerce Sites for Pfizer, Other Big Pharmas". Xconomy. Retrieved 6 August 2016.
  16. ↑ "AstraZeneca Launches Virtual Research Laboratory". Pharmafile.com. Pharmafile. 31 July 2012. Retrieved 7 August 2016.
  17. ↑ Pereira, Jenny (31 July 2012). "AstraZeneca Builds an Exchange to Compare Outsourcing Services". clinicalpartnershipsblog.com. The Partnerships in Clinical Trials. Retrieved 7 August 2016.
  18. ↑ Bryder, Karin; Malmborg, Anki; Soderlind, Eskil (2016). Virtual Business Models: Entrepreneurial Risks and Rewards. Duxford, UK: Elsevier. p. 9. ISBN 978-0-08-100141-7.
  19. ↑ Kaustinen, Kelsey (September 2012). "AstraZeneca Goes Virtual". DDNEWS. DDNEWS. Retrieved 6 August 2016.
  20. ↑ "Atul Butte". tedmed.com. TEDMED. Retrieved 7 August 2016.
  21. 1 2 "Assay Depot, Inc. Creates Medical Research Exchange With the National Cancer Institute". BioSpace. BioSpace. 6 August 2013. Retrieved 7 August 2016.
  22. ↑ http://www.scientist.com
  23. ↑ Dusto, Amy. "Scientist.com discovers the formula for rapid growth". B2B E-Commerce World. Digital Commerce 360. Retrieved 5 October 2017.
  24. ↑ Demery, Paul. "A New Online Marketplace for Service for Biotech Researchers". B2B E-Commerce World. Digital Commerce 360. Retrieved 5 October 2017.
  25. ↑ Briggs, Bill. "Lab supplier VWR seeks to make purchasing faster through an online marketplace". B2B E-Commerce World. Digital Commerce 360. Retrieved 18 January 2018.
  26. ↑ "Scientist.com using blockchain tech to ensure data integrity". outsourcing-pharma.com. Retrieved 2018-05-24.
  27. ↑ "Blockchain solution that ensures marketplace data integrity". www.manufacturingchemist.com. Retrieved 2018-05-24.
  28. ↑ "Scientist.com launches blockchain solution to enhance drug research data integrity - SiliconANGLE". SiliconANGLE. 2018-05-01. Retrieved 2018-05-24.
  29. ↑ "Most Admired CEO 2013" (PDF). San Diego Business Journal. Retrieved 7 August 2016.
  30. ↑ Davis, Kathleen (7 August 2013). "Who Will Win Our Emerging Entrepreneur of 2013 Contest? Help Decide". Entrepreneur. Entrepreneur magazine. Retrieved 7 August 2016.
  31. ↑ Grom, Teran (July–August 2012). "PharmaVOICE 100: Who's on the List by Section". PharmaVOICE. PharmaVOICE. Retrieved 7 August 2016.
  32. ↑ "The 100 Most Inspiring People". PharmaVOICE. PharmaVOICE. July–August 2013. Retrieved 7 August 2016.
  33. ↑ "2015 Top Tech Execs: Meet Our Distinguished Judges". San Diego Magazine. San Diego Magazine. 7 September 2015. Retrieved 7 August 2016.
  34. ↑ "2014 San Diego Business Journal Innovation Awards" (PDF). cbjonline.com. San Diego Business Journal. Retrieved 7 August 2016.
  35. ↑ Shea, Ryan (7 October 2015). "What Sets Apart the Best Entrepreneurial Companies in America". Entrepreneur. Entrepreneur magazine. Retrieved 7 August 2016.
  36. ↑ "Inc. 5000 2017 Full List". Inc. 5000. Inc. Magazine. Retrieved 5 October 2017.
  37. ↑ "Spread the Word: Scientist.com Is No. 155 on the Inc. 5000 This Year!". Inc.com. Retrieved 2018-05-24.
  38. ↑ "San Diego Business Journal". San Diego Business Journal. Retrieved 2018-07-31.
  39. ↑ "SDBJ Announces the Fastest 100 Growing Private Cos. List". San Diego Business Journal. Retrieved 2018-07-31.
  40. ↑ "Drug Research Is Slow and Expensive. These Scientists Came Up With an Idea to Change That". Inc.com. 2018-08-15. Retrieved 2018-08-30.
  41. ↑ Kennedy, Pagan (2016). Inventology: How We Dream Up Things That Change the World. New York: Houghton Mifflin Harcourt. p. 74. ISBN 978-0-544-32400-8. Retrieved 7 August 2016.
  42. ↑ Vance, Ashlee (2 August 2012). "Crowdfunded Searches for Medical Miracles". Bloomberg.com. Bloomberg.com. Retrieved 7 August 2016.
  43. ↑ Murray, Peter (26 March 2013). "Rare Disease Science Challenge Brings Funding to an Overlooked Area of Research". SingularityHUB. SingularityHUB. Retrieved 7 August 2016.
  44. ↑ Kurtovic, Amir (1 March 2013). "Rare Genomics Institute and Assay Depot Award $500,000 for Research into rare genetic Disorders". St. Louis Business Journal. Retrieved 7 August 2016.
  45. ↑ Starr, Barry (22 October 2012). "Be HEARD: A Rare Disease Science Challenge To Find Cures". KQED Science. KQED Science. Retrieved 7 August 2016.
  46. ↑ "Be HEARD: Competition Results". raregenomics.org. raregenomics.org. Retrieved 7 August 2016.
  47. ↑ Henriques, Carolina. "CureDuchenne Takes $50K Prize at Shark Tank-Style Rare Disease Competition". Muscular Dystrophy News Today. BioNews Services , LLC. Retrieved 5 October 2017.
  48. ↑ Wilson, Alia (16 February 2012). "Sunnyvale's BioCurious is a Haven for Innovators". The Mercury News. The Mercury News. Retrieved 7 August 2016.
  49. ↑ Philippidis, Alex (16 July 2012). "Do-It-Yourself Biotech Labs". Genetic Engineering and Biotechnology News. Genetic Engineering and Biotechnology News. Retrieved 7 August 2016.
  50. ↑ Human, Dan (5 July 2014). "Ex-Hoosier funnels Millions Back Home to Local Tech Firms". Indianapolis Business Journal. Indianapolis Business Journal. Retrieved 7 August 2016.
  51. ↑ Bigelow, Bruce V. (30 June 2016). "New Bootstrap Fund Pulls Itself Up in World of Health IT Deals". Xconomy. Xconomy. Retrieved 7 August 2016.
  52. ↑ Freeman, Mike (17 May 2017). "Drug development marketplace Scientist.com raises $24M". San Diego Union Tribune. San Diego Union Tribune. Retrieved 10 July 2017.
  53. ↑ Bigelow, Bruce V. "Scientist.com Raises $24M for "Pharma Markets" that Outsource R&D". Xconomy. Xconomy. Retrieved 10 July 2017.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.