PALO ALTO, Calif. and
CLAYTON, Mo., Jan. 12, 2016 /PRNewswire/ -- Syapse, the leader
in precision medicine software, has completed the first close of a
$25 million Series C funding round.
The financing round is being led by Ascension Ventures, a
subsidiary of Ascension, the nation's largest non-profit and
Catholic health system. Existing investors Social Capital
Partnership and Safeguard Scientifics also participated in this new
funding round.
Syapse has built a market-leading position in the clinical
implementation of precision medicine for oncology and will use this
funding round to drive the rapid expansion of its category-defining
software, Syapse Precision Medicine Platform, in community health
systems. This cloud-based software platform provides a
comprehensive solution to support widespread adoption of precision
medicine in oncology. The software was built to enable four key
processes that are important to every physician and health
system:
- Integrating clinical, genomic, and other molecular data from
medical records, labs, and pharmacies to see the full longitudinal
profile of a patient
- Providing guidance on the appropriate diagnostic and
therapeutic strategy, based on clinical best practices
- Implementing treatment decisions more effectively and
coordinating complex care across large, geographically dispersed
care teams
- Rigorously measuring patient outcomes to rapidly learn what
works and improve best practices
"Adoption of precision medicine by community providers and
health systems is at an inflection point," said Glenn Winokur, Syapse CEO. "In addition to
improving outcomes for the most critically ill patients, such as
those with cancer, precision medicine is underpinning a shift
toward value-based care. Over the coming year, we have extensive
plans to enhance Syapse Precision Medicine Platform, including
support for alternative payment models and expansion to new
clinical service lines. Partnering with Ascension Ventures is a
vote of confidence in our product and team, and a recognition that
Syapse has become the partner of choice to leading community health
systems in their transition to precision medicine."
"Precision medicine has the potential to revolutionize the
practice of medicine," said Matt
Hermann, Senior Managing Director of Ascension Ventures,
"but until now, community physicians have not had the resources
needed to navigate the constantly changing web of clinical best
practices, diagnostic modalities, therapeutic alternatives, and
reimbursement models. Syapse organizes these complex processes into
a unified platform—automating the most cumbersome pieces of the
clinical workflow—so physicians can focus on delivering the
highest-quality care. Syapse enables community providers to achieve
a core objective that guides both Ascension Ventures and its
partner health systems: providing compassionate, personalized care
with reverence for the uniqueness of each individual."
About Syapse
Syapse drives healthcare transformation
through precision medicine, enabling provider systems to improve
clinical outcomes, streamline operations, and shift to new payment
models. The Syapse Precision Medicine Platform is a comprehensive
software suite used by leading academic and community health
systems to support the clinical implementation of oncology
precision medicine. This category-defining platform enables
clinical and genomic data integration, decision support, care
coordination, and quality improvement at point-of-care.
Headquartered in Palo Alto,
California, Syapse is backed by The Social Capital
Partnership, Safeguard Scientifics (NYSE:SFE), and Ascension
Ventures. For more information, visit www.syapse.com.
About Ascension Ventures
Ascension Ventures, launched
in 2001, is a subsidiary of Ascension, the nation's largest
Catholic and non-profit health system. Ascension Ventures' role is
to construct and manage a strategic portfolio of investments that
deliver venture-level investment returns, have the potential to
transform the healthcare industry, and significantly enhance the
experience of patients, their families, and their caregivers.
Ascension Ventures has three venture funds with $550
million in committed capital under management. Its limited
partners include Adventist Health System, Ascension, Catholic
Health Initiatives, Decatur Memorial Hospital, Dignity Health,
Intermountain Healthcare, Mercy, and Trinity
Health. www.ascensionventures.org
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SOURCE Ascension Ventures