PharmaCCX, a Boston, MA-based technology exchange platform that enables pharmaceutical companies and payers to agree on therapy pricing, raised $3m in seed funding round.
The round was led by Accel, with participation from Atlantic Labs, Green D Ventures, and other investors. In conjunction with the funding, Barath Shankar Subramanian, from Accel, joined the PharmaCCX board, along with Julia Bernstein, a health-tech entrepreneur and executive.
The company will use the funds to continue developing its proprietary technology platform and initiate deployments in several European countries.
Co-founded by Nathan Sigworth and Richard Bergstrom, PharmaCCX is developing a technology platform to enable pharma and payers to speed up their pricing negotiations, getting drugs to patients in need quickly. The company’s model allows parties to confidentially explore performance- and indication-based pricing, which better aligns value with market dynamics.