Scientist.com (company)

Last updated
Scientist.com
Company type Private
Industry Science
Online marketplace
Founded2007
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
115 (June 2022)
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]

Contents

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 sourcing of regulated services for scientific research, such as the legal and ethical acquisition of biological specimens, animal welfare, toxicology studies, secondary real world evidence (RWE), health economics and outcomes research (HEOR), and GxP services. [23] [24] [25] 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. [26] In 2018, Scientist.com launched DataSmart, a platform to ensure data integrity; DataSmart is based on proprietary blockchain technology developed by Scientist.com. [27] [28] [29] The company also opened an office in Tokyo, Japan in 2018 in order to work more closely with Japanese pharma companies. [30] [31] In 2019, Scientist.com unveiled its first original service offering, Trial Insights, a digital reporting platform that aggregates publicly available clinical trials data into usable online dashboards. [32] Later in 2019, Scientist.com launched SciPay, an early-payment program for the thousands of registered suppliers on its marketplace. [33] In late 2020, Scientist.com acquired HealthEconomics.Com, the world’s leading ConnectedCommunity in the Value, Evidence and Access space. [34] Then, in 2021, Scientist.com completed three additional acquisitions, one of which was InsideScientific, an online environment that facilitates the exchange of scientific information via webinars, podcasts, and more. [35] Next, was Notch8, which provides software and app development services, and have since rebranded as Scientist.com Software Solutions. [36] Lastly, is BioPharmCatalyst, an online resource for stock market investors of publicly traded biotech and pharmaceutical companies listed on U.S. markets (NASDAQ and NYSE). [37]

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] [38] Scientist.com receives a transaction fee on all marketplace purchases.

Projects

COVID Collaboration Center

In spring of 2020, during the COVID-19 pandemic, Scientist.com created a free online tool called the Covid Collaboration Center. [39] [40] [41] Its goal was to empower researchers, protect healthcare workers and help cure this disease.The website connected COVID-19 researchers and promote collaboration, data-sharingand academic and industry partnerships.

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] In 2018, Scientist.com joined France's Brain and Spine Institute incubator, iPEPS-ICM, to launch a call for early stage biotechs to pitch novel approaches to fighting central nervous systems (CNS) disease. [50]

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. [51] [52] 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. [53] [54]

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References

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