NEW YORK – Syapse said Tuesday that it has raised $68 million in new equity financing. Ally Bridge Group led the round, with participation from new investor Northpond Ventures and several unspecified existing investors.
As a result of the investment, Northpond Ventures Director Andrea Jackson has been named to the Syapse board of directors.Â
In a statement, Jackson said that Syapse's strategy of applying real-world data and evidence to cancer care is "foundational for drug developers, regulators, doctors, and caregivers."
Syapse, a San Francisco-based maker of software to support precision oncology care and drug discovery, said that it would use the money to expand its network of partnerships with life sciences companies, health systems, molecular laboratories, and regulators.
The firm did not name this investment round, but this is Syapse's second major funding announcement since a $30 million Series D round in November 2017, following an unnamed $30 million round in May 2020.
The Stanford University spinoff has now landed at least $166 million in venture investments since its inception in 2014.Â
"We are extremely pleased that Ally Bridge Group and Northpond Ventures embrace our vision of providing high-quality healthcare to cancer patients, and building a global network that integrates a great deal of provider-driven data to deliver actionable insights to health systems and their patients," Syapse CEO Ken Tarkoff said in a statement.