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."
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
SOURCE Ascension Ventures