PALO ALTO, CA — June 18, 2019 — Science Exchange, whose technology platform is used by research organizations to order and manage outsourced R&D services, announced a strategic partnership with Brex, the corporate card built for scaling businesses. Through the partnership, Science Exchange and Brex can provide their mutual biotech and pharma clients with streamlined access to payments and innovative R&D services, thereby accelerating drug discovery research.
Having attained a $2.6B valuation in just over 2 years, Brex has demonstrated a market need by solving a major challenge for entrepreneurs — simple, high quality payments products that allow them access to their credit. This week, Brex launched its corporate credit card for life sciences, freeing R&D leaders from the personal liability embedded within existing credit card offerings. The Brex for Life Science Card provides up to 20x higher credit limits, tailored rewards (such as points multipliers on lab supplies and conference fees), and discounts on outsourced R&D services ordered through Science Exchange.
“We are excited to help increase our clients’ buying power by offering them access to the Brex for Life Science Card,” said Elizabeth Iorns, PhD, CEO & Co-Founder of Science Exchange. A former cancer researcher, Dr. Iorns once had to use her own credit card to fund a study and personally understands the potential impact of the Brex card on scientific research.
“With Science Exchange, we will continue to explore ways to jointly serve our clients through integration of new payment technologies,” said Orion Despo, Head of Growth and GM Life Sciences at Brex. “Combining Science Exchange’s project tracking capabilities with the Brex platform’s automated expense management, life science entrepreneurs can spend less time on audit trails and more time on research.”
Brex is transforming B2B payments by creating corporate cards, rewards, and travel programs that are tailored to specific industries. In 2018 Brex launched the first corporate card and rewards program specifically designed for startups. By rebuilding the credit card tech stack from the ground up, Brex is able to reimagine every aspect of corporate cards, including underwriting, transparency and approvals, to create a radically better experience for customers. Brex is backed by Y Combinator Continuity, Max Levchin, and more and has raised $315M in equity and $100M in debt capital. The company’s headquarters are in San Francisco.