Science Exchange Named Finalist for Coveted Procurement Leaders World Procurement Awards

March 30, 2018 | Posted by Team in News |

Science Exchange shortlisted in two categories – Best New Procurement Consultancy Project and Best P2P Specialist Provider

World Procurement Award P2P Platform WPA Finalists-Consultancy project

PALO ALTO, CA, March 30, 2018Science Exchange, the world’s leading and most secure enterprise platform for outsourced research and development (R&D) services, today announced it has been named a finalist in two categories for the esteemed World Procurement Awards, the most sought-after and recognized accolade in procurement, run by Procurement Leaders. Alongside industry leaders like Microsoft, Coupa, IBM, and KPMG, Science Exchange is on the shortlist for two awards: Best New Procurement Consultancy Project, with pharmaceutical client GlaxoSmithKline (GSK) Consumer Health, and Best Procure-to-Pay (P2P) Specialist Provider.

Science Exchange was recognized for its P2P platform, which empowered procurement teams and increased R&D operational efficiency at GlaxoSmithKline Consumer Health (GSK-CH) and another major global pharmaceutical client with rapid access to innovation through outsourced R&D.  

“We are honored to be recognized once again by Procurement Leaders for the work we are doing with our clients to help accelerate breakthrough discoveries,” said Dr. Elizabeth Iorns, Ph.D., CEO and Co-Founder of Science Exchange. “Outsourcing with scientific service providers is crucial for increasing R&D efficiency, but finding and qualifying providers can be a time-consuming process. Our platform accelerates scientific breakthroughs by  connecting researchers to thousands of scientific services from a network of thoroughly vetted providers.”

The winners of the awards will be announced on May 17, 2018 at the World Procurement Awards Ceremony in London, England. To find out more and see a list of all the finalists, visit the website at www.worldprocurementawards.com.

Best New Procurement Consultancy Project

In the category Best New Procurement Consultancy Project, GlaxoSmithKline Consumer Health (GSK-CH) implemented Science Exchange to increase the productivity of their R&D operations. Through the Science Exchange platform, GSK-CH researchers gained instant access to the 2,500+ outsourced service providers on the Science Exchange network, including niche and innovative technologies. Science Exchange was able to broaden the GSK-CH R&D organization’s geographical reach, capitalize on local demand, help spur innovation, and advance their timelines to bring products to market faster. Some of the results included an 11% increase in GSK-CH’s access to innovative providers (YTD) and 44 new niche providers selected by GSK-CH during scouting efforts this year.

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Best P2P Specialist Provider In the category Best P2P Specialist Provider, a leading global pharmaceutical company explored the potential to increase their R&D productivity by using the Science Exchange technology platform to improve its outsourcing processes. Instead of spending hours a day exploring service providers, the scientists logged into Science Exchange and quickly reviewed service provider satisfaction ratings, secured competitive quotes, and selected a supplier to meet their research needs. After one year of using Science Exchange, this global pharmaceutical company’s preclinical services group reported that scientists saved 1,300 hours, the legal and procurement teams saved 2,730 hours, and the combined time-savings translated to hundreds of thousands of dollars in cost savings.


About World Procurement Awards The World Procurement Awards, in association with SAP Ariba, are the most celebrated and sought-after awards in procurement, representing the best projects, people and organizations across the world. They reward the collective efforts of individuals and teams and are an affirmation of the hard work, innovation and dedication of those at the forefront of this dynamic global profession. This year saw a record number of entries from some of the most influential companies across 36 countries for the 12th annual awards. The judges were impressed with the sheer quality of this year’s submissions, commenting that the bar had once again been raised, with innovation at the heart of each project as teams across the globe work hard to position themselves as valuable business partners.

 

Learn more about how Science Exchange can help your organization accelerate innovation through outsourced R&D — request a demo of our platform today.

Elizabeth Iorns, Ph.D., Named 2017 Scrip Award Executive of the Year Finalist

November 1, 2017 | Posted by Team in News |

Scrip Award Finalist Elizabeth Iorns

PALO ALTO CA, November 1, 2017 –  Science Exchange, the world’s leading and most secure platform for outsourced research and development (R&D), announced today that company CEO and co-founder Elizabeth Iorns, Ph.D., has been selected as an Executive of the Year finalist in the prestigious 2017 Scrip Awards.

Dr. Iorns is one of six C-level executives recognized in the Executive of the Year category for private companies or those with a market capitalization of <$1 billion. This awards category acknowledges excellence in the leadership of large and small pharmaceutical and biotechnology companies around the world.

A cancer researcher herself, Iorns co-founded Science Exchange in 2011 to streamline R&D outsourcing and facilitate access to qualified, innovative scientific service providers. Because of the robust platform’s clear benefits to R&D organizations, she has successfully negotiated enterprise-level agreements between Science Exchange and many of the world’s top biopharma companies, as well as with numerous biotech and pharma startup incubators. Over the past year, in addition to expanding the company’s reach into other R&D reliant industries like agrisciences and cosmetics, Iorns led the a successful Series C venture capital funding round, bringing an additional $28 million of investment that will allow Science Exchange to accelerate its impressive growth.

Iorns is also the co-director of the Reproducibility Initiative, and is a part-time partner at Y Combinator. She has a Ph.D. in Cancer Biology from the Institute of Cancer Research (UK), and before starting Science Exchange was an Assistant Professor at the University of Miami, where she remains an Adjunct Professor. She has been recognized previously as one of Nature’s “Ten People that Mattered” and WIRED’s “50 Women Who Are Changing The World.”

In its 13th year, the Scrip Awards program recognizes the key roles that pharmaceutical, biotech and other related industries play in improving healthcare around the world. A panel of 16 highly respected and independent experts from across diverse sectors evaluated the award entries to select the finalists. The winners across 16 categories will be announced at the 13th Annual Scrip Awards ceremony at the London Hilton on Park Lane in London, England on November 29, 2017. For more details on the event, visit www.ScripAwards.com.  

Science Exchange Honored by Goldman Sachs for Entrepreneurship

October 19, 2017 | Posted by Team in News |

Co-Founder and CEO Elizabeth Iorns Among 100 Most Intriguing Entrepreneurs at 2017 Builders + Innovators Summit

Palo Alto, CA – October 19, 2017 – Goldman Sachs (NYSE:GS) is recognizing Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange as one of the 100 Most Intriguing Entrepreneurs of 2017 at its Builders + Innovators Summit in Santa Barbara, California.

Goldman Sachs selected Elizabeth as one of 100 entrepreneurs from multiple industries to be honored at the two-day event.

The life sciences research community has been transformed by Elizabeth’s ability to execute upon her vision to transform the procurement and delivery of outsourced R&D services. Thanks to her tenacity and drive, and her deep understanding of the need for improved R&D efficiency, Science Exchange is enabling breakthrough scientific discoveries by providing researchers with an online platform for efficient access to the world’s best outsourced R&D service providers.

“This is a tremendous honor and I’m excited to be recognized by Goldman Sachs along with these other inspiring entrepreneurs,” said Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange.  “The work our team at Science Exchange has been doing in outsourced R&D is critical for driving scientific breakthroughs and innovation and I’m proud to lead the team in this charge.”

“We are pleased to recognize Elizabeth Iorns as one of the most intriguing entrepreneurs of 2017,” said David M. Solomon, President and Co-Chief Operating Officer at Goldman Sachs. “This is the sixth year that we’ve hosted the Builders + Innovators Summit where emerging business leaders gather to discuss their common interests in building prosperous organizations.”

For more than 145 years, Goldman Sachs has been advising and financing entrepreneurs as they launch and grow their businesses. In addition to honoring 100 entrepreneurs, the Summit consists of general sessions and clinics led by Goldman Sachs experts, seasoned entrepreneurs, academics and business leaders as well as resident scholars.

About Elizabeth Iorns

Elizabeth Iorns, Ph.D., is the CEO and Founder of Science Exchange. Elizabeth Iorns has transformed scientific research by radically improving the procurement and delivery of outsourced research and development (R&D) services. Elizabeth Iorns, Ph.D. (Institute of Cancer Research, London) was an Assistant Professor at University of Miami’s Miller School of Medicine, where she investigated breast cancer development and progression, before launching Science Exchange in 2011. Elizabeth’s work has been featured in multiple media outlets, and she regularly speaks at thought leadership events, such as the 2017 TechCrunch Disrupt event in San Francisco, 2017 Society for Laboratory Automation and Screening annual meeting and the 2016 MassBio CRO/CMO Symposium. Her recent honors include Nature’s “Ten People that Mattered,” WIRED’s “50 Women Who Are Changing The World,” and the “Kauffman Foundation Emerging Entrepreneur Award.” She is a finalist for 2017 Scrip Executive of the Year Award.

About Science Exchange
Science Exchange is the world’s leading and most secure platform for outsourced research, providing an efficient procure-to-pay platform for ordering 6,000+ services from a network of more than 2,500 qualified scientific service providers, all with pre-established contracts in place that protect client intellectual property and confidentiality. The platform increases access to innovation and improves productivity, freeing scientists from administrative tasks and delays associated with sourcing, establishing and managing service provider contracts. Additionally, the Science Exchange enterprise program enables large R&D organizations to consolidate research outsourcing spend into a single strategic relationship, driving efficiency, improving transparency and oversight, and delivering cost savings. Since being founded in 2011, Science Exchange has raised more than $58 million from Norwest Venture Partners, Maverick Capital Ventures, Union Square Ventures, Collaborative Fund, Index Ventures, OATV, the YC Continuity Fund, and others. For more information, visit www.ScienceExchange.com. Follow the company on Twitter @ScienceExchange.

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