Experimental drugs network injected with €10m investment
2 min read
09 January 2017
EQT Ventures and Octopus Ventures have joined forced to inject a €10m investment into myTomorrows, an experimental drugs platform.
The goal of the business is to improve the access to experimental drugs in development for medical professionals and their patients. In addition to EQT and Octopus, existing investors Balderton and Sofinnova contributed to the €10m investment.
The funding will support myTomorrows as it increases investments in technology and talent, both of which are required to simplify the complexities patients with unmet needs face around access to experimental drugs.
In addition to receiving investment, former GlaxoSmithKline chief medical officer James Shannon has been named chairman of the supervisory board. His appointment is in line with growth plans for the US, Asia, Europe, Latin America and the Middle East.
As it stands, myTomorrows has facilitated 300,000 clinical trials and supports access programmes to experimental drugs globally with operations in 17 countries. The company’s platform gives physicians the means to stay updated with “potentially life-saving drugs out of reach”.
“We are delighted to have attracted backing from investors whose contribution will be well beyond simply finances,” said founder and CEO Ronald Brus.
“EQT Ventures has unparalleled marketplace experience – an in particular, we’re looking forward to working with Kees Koolen, who has incredible experience in disrupting existing markets through technology, both during his time running Booking.com and as an advisor to Uber.”
He went on to highlight Octopus’ ability to help the business scale and an investment portfolio that includes Graze, Zoopla and Secret Escapes.
Koolen, EQT founding partner, claimed myTomorrows has the chances to genuinely change lives by disrupting the industry, with a team that is experienced in medicine, biotech and technology.
“In an era where information asymmetry has been removed by the internet, myTomorrows has created a digital marketplace connecting physicians with drug developers under the watchful eye of local regulators, in order to facilitate access to drugs that might otherwise be out of reach for patients who have run out of other treatment options,” Koolen said.
Octopus Ventures investment director Luke Hakes added that the company has the potential to surge to the front of the industry.