rMark Bio, a Chicago, IL- and Seattle, WA-based provider of AI solutions that accelerate innovation and scientific discoveries for life sciences companies, closed a $1.5m seed funding.
The round was led by Lincoln Park Capital, with participation from M25 Group, SaaS Ventures and MATH Venture Partners. In conjunction with the funding, Math Venture Partners Managing Director Mark Achler joined rMark Bio’s Board of Directors.
The company intends to use the funds to grow through market expansion, enable the hiring of key personnel and support its transition into its new headquarters office at 440 N. Wells in Chicago.
Founded in 2015 by Jason M. Smith, CEO, and Lev Becker, Ph.D., Chief Scientist, rMark Bio provides Fabric, an end-to-end AI solution that accelerates innovation and scientific discoveries for life sciences companies by fostering awareness and collaboration.
The platform employs several key capabilities in a three-step process:
– It enables automated aggregation and preparation of data for machine learning.
– Neural networks are trained to analyze data and surface scientific insights and discoveries.
– APIs integrate with existing apps to deliver insights.
Specifically, Fabric is trained to understand petabytes of life sciences unstructured text, videos, voice, proteomics, genomic and free form data from existing business applications such as Microsoft™, Salesforce™ and Veeva™ along with third party data sources from IQVIA™ and Symphony Heath™. Working in unison, its neural networks surface the most relevant insights and discoveries based on each department or user’s specific business needs.
Fabric currently is licensed and deployed in several top-20 pharmaceutical companies.