Jan 26, 2023, 12:01 ET
LOS ANGELES , Jan. 26, 2023 /PRNewswire/ -- People Science, a direct-to-consumer scientific research company providing a scaled research and development (R&D) platform for alternative medicines, today announced $5.3 million in a second seed round of funding led by Acre Venture Partners with participation from Bluestein Ventures, THIA Ventures and FORM Life Ventures. This brings their total seed funding to $8.5M with the prior seed round supported by Noetic Fund, Woven Science, and LifeForce Capital. The company will use the new capital to support their expansion into nutrition and food as medicine alongside their existing research efforts on natural and synthetic psychedelics, the microbiome, cannabis and cannabinoid medicines and digital health interventions. Lucas Mann, Co-Founder and Managing Partner at Acre Venture Partners, will join the People Science Board of Directors.
"There are many solutions for humans to stay well and get better and some of these have been in use for millennia. However, until now, there has not been any great clinical research infrastructure to study these alternative medicines with real people and with rigorous science at scale," said Noah Craft, MD, PhD, co-founder and co-CEO of People Science. "More than ever before, people are defining their own path to wellness and trying to figure out what makes them better. We are bringing the tools of science directly to the people to help them find answers and to share this knowledge with society."
People Science is building a new clinical research infrastructure for alternative medicines that connects people, doctors, and scientists through its technology platform, CHLOE (the Consumer Health Learning and Organizing Ecosystem). CHLOE is a modular software technology that combines a consumer-facing mobile app with a rigorous high-quality clinical research platform. Consumers can use CHLOE to help understand which alternative medicines work best for themselves. Companies and other researchers engage with People Science to test their ideas and products directly or by licensing CHLOE. Sponsored clinical studies with CHLOE began in late 2022, with the goal of launching the app to the public in early 2023.
"We invest in companies that are innovating in food and agriculture to improve the health of people and the planet - both what we eat and how we grow it", said Mann. "We think this platform has the potential to be transformational in unlocking robust evidence and data-based claims that are often lacking in the 'food as medicine' space - and such claims have the power to not only propel consumer products forward but also the adoption of more food-driven practices by the medical community."
Overcoming The Stigma Associated With Psychedelic Therapies
People Science is filling the void of much-needed clinical research at a time when psychedelic medicines have started to show broad therapeutic potential for treating depression, post-traumatic stress disorder (PTSD), anxiety disorders, substance abuse and other mental illness diagnoses. A recent study revealed that the global psychedelic drug market is expected to reach $7.03 billion in 2026. In addition, the global medical cannabis market is expected to grow from $16 billion this year to $46 billion by 2027. Cannabis is often used to provide relief for chronic pain, nausea, sleep issues, muscle spasms and other health conditions.
"We're seeking to advance and validate knowledge about alternative medicines," Belinda Tan MD PhD, co-founder and co-CEO of People Science said. "By sharing and creating tremendously valuable evidence through the use of our technology, and including people from all backgrounds, we're building bridges between our modern society and indigenous cultures. Humans have the power to improve themselves and we are providing them with better tools to do so."
Unlocking The Evidence That Underpins 'Food as Medicine'
People Science will work with food companies focused on bioactive ingredients, metabolic health, gut microbiome and other health initiatives to develop evidence around improving the way people feel in a real world setting. To date, the sector has struggled to prove efficacy of many of these food-as-medicine-based interventions at scale. With its tech-enabled, consumer-focused platform, People Science provides the tools needed to make data generation and feedback loops more efficient, scalable and cost effective to build the tangible evidence needed to show the power of food-based solutions in driving better health outcomes.
With this latest round of funding, People Science will continue to develop the CHLOE technology platform to support additional consumer-facing features as well as to support their growing client pipeline for CHLOE software licensing. The core team will expand to support customer growth and retention.
About People Science
People Science is building a people-forward clinical research infrastructure to support the evolution, knowledge and understanding of alternative medicines. As a technology-enabled clinical research services company, People Science empowers individuals to answer the question, "Which alternative medicines work best for me?" through their proprietary CHLOE app. People Science connects clients who make or want to promote the understanding of alternative medicines to the people who test their products. Learn more at peoplescience.health.
SOURCE People Science, Inc.
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