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Scientist.com (company)

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Scientist.com
Company typePrivate
IndustryScience
Online marketplace
Founded2007
FoundersKevin Lustig, Chris Petersen, Andrew Martin
Headquarters
Solana Beach, California
,
United States
Key people
Kevin Lustig (Founder & CEO)
Chris Petersen (Founder & CIO)
Daniel Kagan (COO)
Number of employees
115 (June 2022)
Websitescientist.com

Scientist.com (formerly known as Assay Depot) is a network of public and private e-commerce marketplaces that connect buyers and sellers of scientific research services.[1][2][3] The company was founded in 2007 by Kevin Lustig, Chris Petersen and Andrew Martin and launched its first public research marketplace in September 2008.[4][5][6][7]

History

[edit]

Research marketplaces make it possible for scientists to use contract research organizations (CROs) to outsource an entire pharmaceutical drug discovery project without requiring physical access to a laboratory.[8][9][10][11][12] The company has been referred to as the “Amazon.com for medical research,” “A Home Depot for science and medicine” and the “EBay for drug discovery services."[2][7][13][14] In 2011 and 2012, Scientist.com launched outsourcing marketplaces for the large pharmaceutical companies Pfizer and AstraZeneca, respectively.[1][15][16][17][18][19] The marketplace was featured in a 2012 TEDMED talk given by then-Stanford University professor Atul Butte.[14][20] In 2013, the company launched a private academic marketplace for the National Cancer Institute.[21] By June 2016, when the company rebranded as Scientist.com, it operated private research marketplaces for 10 pharmaceutical companies and the US National Institutes of Health.[21][22] In 2017, Scientist.com rolled out a series of new marketplace features to attract more customers, including COMPLi®, a comprehensive process that oversees the sourcing of regulated services for scientific research, such as the legal and ethical acquisition of biological specimens, animal welfare, toxicology studies, secondary real world evidence (RWE), health economics and outcomes research (HEOR), and GxP services.[23][24][25] By the end of 2017, the company operated private marketplaces for most of the world's major pharmaceutical companies and entered into a collaboration with VWR International to create an end-to-end research solution.[26] In 2018, Scientist.com launched DataSmart, a platform to ensure data integrity; DataSmart is based on proprietary blockchain technology developed by Scientist.com.[27][28][29] The company also opened an office in Tokyo, Japan in 2018 in order to work more closely with Japanese pharma companies.[30][31] In 2019, Scientist.com unveiled its first original service offering, Trial Insights, a digital reporting platform that aggregates publicly available clinical trials data into usable online dashboards.[32] Later in 2019, Scientist.com launched SciPay, an early-payment program for the thousands of registered suppliers on its marketplace.[33] In late 2020, Scientist.com acquired HealthEconomics.Com, the world’s leading ConnectedCommunity in the Value, Evidence and Access space.[34] Then, in 2021, Scientist.com completed three additional acquisitions, one of which was InsideScientific, an online environment that facilitates the exchange of scientific information via webinars, podcasts, and more.[35] Next, was Notch8, which provides software and app development services, and have since rebranded as Scientist.com Software Solutions.[36] Lastly, is BioPharmCatalyst, an online resource for stock market investors of publicly traded biotech and pharmaceutical companies listed on U.S. markets (NASDAQ and NYSE).[37]

Business model

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Scientist.com is a procure-to-pay B2B e-commerce marketplace. Research customers use the marketplace to design, purchase and pay for custom research services and products. Research suppliers, or contract research organizations (CROs), use the marketplace to communicate with customers, submit quotes, receive orders and submit invoices.[1][8][38] Scientist.com receives a transaction fee on all marketplace purchases.

Projects

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COVID Collaboration Center

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In spring of 2020, during the COVID-19 pandemic, Scientist.com created a free online tool called the Covid Collaboration Center.[39][40][41] Its goal was to empower researchers, protect healthcare workers and help cure this disease.The website connected COVID-19 researchers and promote collaboration, data-sharingand academic and industry partnerships.

Rare Disease Challenges

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In 2013, Scientist.com partnered with the Rare Genomics Institute to create and run a science challenge called Be HEARD (Helping Empower and Accelerate Research Discoveries).[9][42][43] Half a million dollars worth of scientific services, ranging in value from $2,500 to $75,000, were awarded to 26 rare disease researchers.[44][45] In 2015, the Be HEARD science challenge resulted in over $600,000 in awards to 31 rare disease research programs.[46] In 2017, Scientist.com partnered with Global Genes to sponsor the “RARE Battle of the Brains,” a Shark Tank-style pitch competition between early-stage innovators from biotech and academia.[47]

Open Science Challenges

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In 2012, Scientist.com partnered with BioCurious in the Bay Area and Genspace in New York to run open science challenges for citizen and young scientists.[48][49] In 2018, Scientist.com joined France's Brain and Spine Institute incubator, iPEPS-ICM, to launch a call for early stage biotechs to pitch novel approaches to fighting central nervous systems (CNS) disease.[50]

Investors

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The company raised $1.8M in October 2007 from family and friends.[5] In June 2011, the company raised $1.7M from Hollywood producer Jack Giarraputo and friends. In March 2014, the company raised $3.4M in financing led by Jean Balgrosky of Bootstrap Ventures.[51][52] In May 2017, the company raised $24M in an equity financing co-led by Boston-based Leerink Transformation Partners (LTP) and San Francisco and Boston-based 5AM Ventures; new investors included Heritage Provider Network, and existing investors Bootstrap Ventures and Jack Giarraputo also participated.[53][54]

References

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  1. ^ a b c Bigelow, Bruce V. (30 July 2012). "San Diego's Assay Depot Unveils Online Exchange for AstaZeneca's R&D". Xconomy. Retrieved 6 August 2016.
  2. ^ a b Naggapan, Padma (31 January 2012). "Company 'Democratizes Science' with Cloud-Based Research Exchanges". San Diego Source. Retrieved 7 August 2016.
  3. ^ Timpsen, Theral (29 April 2012). "Opening up the World of Drug Discovery: Assay Depot's Kevin Lustig". Mendelspod.com. Retrieved 7 August 2016.
  4. ^ Barnes, Kristy (17 October 2007). "Online Drug Discovery Services Database to Be Launched". outsourcing-pharma.com. William Reed Business Media. Retrieved 10 July 2017.
  5. ^ a b Bigelow, Bruce V. (17 December 2009). "Assay Depot Founders Morphed Their Biotech Startup Into e-Commerce Provider of Drug Discovery Services". Xconomy. Retrieved 6 August 2016.
  6. ^ Akst, Jeff (1 February 2010). "The Matchmaking Market". The Scientist. Retrieved 6 August 2016.
  7. ^ a b Taylor, Phil (16 September 2008). "Assay Depot: 'Ebay' of Drug Discovery Services Debuts". Outsourcing-Pharma.com.
  8. ^ a b Timmer, John (21 February 2012). "How to Run a Successful Research Lab Without Having a Lab". Arstechnica.com. Retrieved 7 August 2016.
  9. ^ a b Lustig, Kevin (August 2013). "Oncology Outsourced: An Emerging Research Model". DDNEWS. Retrieved 7 August 2016.
  10. ^ Glance, David (6 May 2016). "New Drugs Using Only a Computer, the Internet and Free Online Data". MedicalXpress.com. Retrieved 7 August 2016.
  11. ^ Lim-Wilby, Marguerita; Stevens Jr., William C. (2011). Pharmaceutical Outsourcing: Discovery and Preclinical Services. San Diego, CA: Pharmamedia, Inc. pp. 230–242. ISBN 978-0-9849049-0-7. Retrieved 7 August 2016.
  12. ^ Lustig, Kevin; Thompson, Maria; Gul, Sheraz (20 February 2013). "The Evolution of the Contract Research Organisation and the Future of the Pharmaceutical Industry". European Pharmaceutical Review.
  13. ^ Fung, Brian (13 April 2012). "Have You Heard of Assay Depot? It's the Amazon.com of Medical Research". The Atlantic. Retrieved 7 August 2016.
  14. ^ a b Butte, Atul (2012). "What if You Outsource Three Double-Blind Mice?". TEDMED. Retrieved 7 August 2016.
  15. ^ Bigelow, Bruce V. (11 July 2011). "San Diego's Assay Depot Creates Private e-Commerce Sites for Pfizer, Other Big Pharmas". Xconomy. Retrieved 6 August 2016.
  16. ^ "AstraZeneca Launches Virtual Research Laboratory". Pharmafile.com. Pharmafile. 31 July 2012. Retrieved 7 August 2016.
  17. ^ Pereira, Jenny (31 July 2012). "AstraZeneca Builds an Exchange to Compare Outsourcing Services". clinicalpartnershipsblog.com. The Partnerships in Clinical Trials. Retrieved 7 August 2016.
  18. ^ Bryder, Karin; Malmborg, Anki; Soderlind, Eskil (2016). Virtual Business Models: Entrepreneurial Risks and Rewards. Duxford, UK: Elsevier. p. 9. ISBN 978-0-08-100141-7.
  19. ^ Kaustinen, Kelsey (September 2012). "AstraZeneca Goes Virtual". DDNEWS. Retrieved 6 August 2016.
  20. ^ "Atul Butte". tedmed.com. TEDMED. Retrieved 7 August 2016.
  21. ^ a b "Assay Depot, Inc. Creates Medical Research Exchange With the National Cancer Institute". BioSpace. BioSpace. 6 August 2013. Retrieved 7 August 2016.
  22. ^ "Home". scientist.com.
  23. ^ Dusto, Amy. "Scientist.com discovers the formula for rapid growth". B2B E-Commerce World. Digital Commerce 360. Retrieved 5 October 2017.
  24. ^ Demery, Paul (2 October 2017). "A New Online Marketplace for Service for Biotech Researchers". B2B E-Commerce World. Digital Commerce 360. Retrieved 5 October 2017.
  25. ^ Fassbender, Melissa. "Scientist.com Adds Animal Welfare Module to Compliance Solution". Outsourcing-Pharma.com. William Reed. Retrieved 23 December 2019.
  26. ^ Briggs, Bill (25 October 2017). "Lab supplier VWR seeks to make purchasing faster through an online marketplace". B2B E-Commerce World. Digital Commerce 360. Retrieved 18 January 2018.
  27. ^ "Scientist.com using blockchain tech to ensure data integrity". outsourcing-pharma.com. Retrieved 2018-05-24.
  28. ^ "Blockchain solution that ensures marketplace data integrity". www.manufacturingchemist.com. Retrieved 2018-05-24.
  29. ^ "Scientist.com launches blockchain solution to enhance drug research data integrity - SiliconANGLE". SiliconANGLE. 2018-05-01. Retrieved 2018-05-24.
  30. ^ Whitlock, Jared (November 13, 2018). "Scientist.com to Open an Office in Japan". A Southern California Publication. San Diego Business Journal. Retrieved 23 December 2019.
  31. ^ Fassbender, Melissa. "Scientist.com to Open After Partnering with 'Several' Large Pharma Firms". Outsourcing-Pharma.com. William Reed. Retrieved 23 December 2019.
  32. ^ Fassbender, Melissa. "Scientist.com's First Original Service 'Limits Dead Ends and Unexpected Surprises'". Outsourcing-Pharma.com. William Reed. Retrieved 23 December 2019.
  33. ^ Bowman, Robert J. "How Supply Chain Finance Can Help Companies Protect Working Capital". SupplyChainBrain. Keller International Publishing. Retrieved 23 December 2019.
  34. ^ "Scientist.com to Acquire HealthEconomics.Com, the World's Leading Connected Community for Health Economics and Outcomes Research". www.businesswire.com. 2020-12-15. Retrieved 2022-06-09.
  35. ^ "Scientist.com Announces Acquisition of InsideScientific, a Life Science Webinar, Virtual Event and Content Creation Company". www.businesswire.com. 2021-09-14. Retrieved 2022-06-09.
  36. ^ "Scientist.com Expands Science as a Service® Platform with Acquisition of Notch8". www.businesswire.com. 2022-03-29. Retrieved 2022-06-09.
  37. ^ "2021 Year in Review". Scientist.com. 17 January 2022. Retrieved 2022-06-09.
  38. ^ Kennedy, Pagan (2016). Inventology: How We Dream Up Things That Change the World. New York: Houghton Mifflin Harcourt. p. 74. ISBN 978-0-544-32400-8. Retrieved 7 August 2016.
  39. ^ "Home". covidcollaborationcenter.com.
  40. ^ "Scientist.com Launches COVID-19 Collaboration Center to Help Researchers in Fight Against Pandemic". Business Wire. 2020-04-22. Retrieved 2022-06-25.
  41. ^ "New COVID-19 Collaboration Center Helps Scientists in Fight Against Coronavirus Pandemic". 28 April 2020.
  42. ^ Vance, Ashlee (2 August 2012). "Crowdfunded Searches for Medical Miracles". Bloomberg.com. Retrieved 7 August 2016.
  43. ^ Murray, Peter (26 March 2013). "Rare Disease Science Challenge Brings Funding to an Overlooked Area of Research". SingularityHUB. Retrieved 7 August 2016.
  44. ^ Kurtovic, Amir (1 March 2013). "Rare Genomics Institute and Assay Depot Award $500,000 for Research into rare genetic Disorders". St. Louis Business Journal. Retrieved 7 August 2016.
  45. ^ Starr, Barry (22 October 2012). "Be HEARD: A Rare Disease Science Challenge To Find Cures". KQED Science. Retrieved 7 August 2016.
  46. ^ "Be HEARD: Competition Results". raregenomics.org. Retrieved 7 August 2016.
  47. ^ Henriques, Carolina (25 September 2017). "CureDuchenne Takes $50K Prize at Shark Tank-Style Rare Disease Competition". Muscular Dystrophy News Today. BioNews Services, LLC. Retrieved 5 October 2017.
  48. ^ Wilson, Alia (16 February 2012). "Sunnyvale's BioCurious is a Haven for Innovators". The Mercury News. Retrieved 7 August 2016.
  49. ^ Philippidis, Alex (16 July 2012). "Do-It-Yourself Biotech Labs". Genetic Engineering and Biotechnology News. Retrieved 7 August 2016.
  50. ^ "One for Biotech Startups". Innovators magazine. 16 May 2018. Retrieved 29 December 2019.
  51. ^ Human, Dan (5 July 2014). "Ex-Hoosier funnels Millions Back Home to Local Tech Firms". Indianapolis Business Journal. Retrieved 7 August 2016.
  52. ^ Bigelow, Bruce V. (30 June 2016). "New Bootstrap Fund Pulls Itself Up in World of Health IT Deals". Xconomy. Retrieved 7 August 2016.
  53. ^ Freeman, Mike (17 May 2017). "Drug development marketplace Scientist.com raises $24M". San Diego Union Tribune. Retrieved 10 July 2017.
  54. ^ Bigelow, Bruce V. "Scientist.com Raises $24M for "Pharma Markets" that Outsource R&D". Xconomy. Retrieved 10 July 2017.
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