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.

Read More


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.

Science Exchange Wins Two Gold Stevie® Awards in 2017 Stevie Awards for Women in Business

November 21, 2017 | Posted by Team in News |

Dr. Elizabeth Iorns Honored as Female Entrepreneur of the Year and Science Exchange as Most Innovative Company of the Year

Gold Stevie Award 2017 Science Exchange

Palo Alto, CA – November 21, 2017 — Science Exchange, the world’s leading and most secure enterprise platform for outsourced research and development (R&D), today announced that CEO and Co-Founder Dr. Elizabeth Iorns, has been named the winner of the Gold Stevie® Award for Female Entrepreneur of the Year. In addition, Science Exchange has been named Most Innovative Company of the Year at the 14th annual Stevie Awards for Women in Business.

The Stevie Awards for Women in Business are the world’s top honors for female entrepreneurs, executives, employees and the organizations they run. The 2017 awards received over 1500 entries from 25 nations and territories; winners were recognized at a November 17 event in New York City.

Dr. Elizabeth Iorns founded Science Exchange in 2011 and has built a global company that has raised over $58M in venture funding. Dr. Iorns has led Science Exchange to rapid growth with enterprise partnerships with the most innovative R&D focused Fortune 100 companies. Science Exchange provides a technology platform for efficient access to the world’s best external R&D partners. Through Science Exchange, scientists can instantly connect and order outsourced scientific projects from over 2,500 top research facilities available under the Science Exchange contract.

“I am honored to receive the Stevie award and be recognized among other inspiring women and companies around the world,” said Dr. Elizabeth Iorns, co-founder and CEO of Science Exchange. “I am also extremely proud of the teams at Science Exchange that work tirelessly with our clients on their outsourced R&D projects to accelerate scientific discovery.”

“The judges were so impressed with the accomplishments of all of the Stevie Award-winning women and organizations. The 2017 Stevie Awards for Women in Business received a record number of nominations and had a record number of ceremony attendees,” said Michael Gallagher, founder and president of the Stevie Awards. “We congratulate all of this year’s Grand, Gold, Silver and Bronze Stevie Award winners for their achievements.”

Details about the Stevie Awards for Women in Business and the list of Stevie Award winners are available at www.StevieAwards.com/Women.  

 

Science Exchange Announces Outsourced R&D Partnership with Alector

November 20, 2017 | Posted by Team in News |

Science Exchange-Alector PartnershipPALO ALTO, Calif.–Science Exchange, the world’s leading and most secure enterprise platform and aggregator for outsourced research and development (R&D), today announced a strategic partnership with Alector, a biotech company pioneering the discovery & development of immuno-neurology therapies for neurodegenerative disorders, to provide the company’s scientists access to a private R&D marketplace to accelerate their research.

“The Science Exchange platform solves the challenges of R&D outsourcing: we provide scientists with efficient access to a diverse network of qualified suppliers under a single relationship, and at the same time we provide sourcing departments with more information and control over their outsourcing spend,” said Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange. “We are thrilled to be the provider of Alector’s R&D marketplace and help bring potential treatments for Alzheimer’s disease to patients more quickly and efficiently. Especially following the exciting news on Alector’s partnership with AbbVie to advance therapies for Alzheimer’s disease, it’s clear that Alector has extremely promising drug targets — we’re honored to help accelerate these important discoveries.”

The Science Exchange-powered R&D marketplace enables scientists to instantly order more than 6,000 unique scientific services from the 2,500 CROs, academic labs, and government facilities that are available under a single Science Exchange contract. The partnership also will provide Alector with a platform to effectively manage the company’s outsourced R&D investments, including the ability to track supplier utilization, trends, and performance, which also supports the need for compliance with internal policies and external regulations.

Alector is the latest R&D company to choose to partner with Science Exchange, and joins more than 30 enterprise organizations, including 10 of the top 20 pharma companies, that use Science Exchange to more efficiently manage outsourced R&D.

“Science Exchange offers a unique platform for connecting with a broad network of qualified scientific service providers,” said Arnon Rosenthal, Ph.D., co-founder and CEO of Alector. “It is our hope that working with Science Exchange will enable us to more quickly advance discovery and development of novel immuno-neurology therapies.”

Under the agreement, Science Exchange will support company-specific governance, approval workflows, and preferred vendors. To minimize the risk frequently associated with outsourcing to external service providers, the Science Exchange guarantee ensures complete protection of data, assets and performance of agreed-upon services, all backed by a best-in-class, SOC 2-compliant information technology security infrastructure. Science Exchange’s ISO 9001-certified quality assurance system and dedicated regulatory compliance team also support regulated work.

 

Visit www.scienceexchange.com/enterprise to request a demo of our award-winning private marketplaces for managing outsourced research and development!

QB3 Signs Partnership with Science Exchange

October 23, 2017 | Posted by Team in News |

Qb3 Partners With Science ExchangeBay Area Life Science Hub Enables its Startups to Stay Lean with Science Exchange’s R&D Platform

PALO ALTO, CA, October 23, 2017Science Exchange, a platform for outsourced research and development (R&D) services, today announced a partnership with QB3, the University of California hub for innovation and entrepreneurship for life sciences.

Through an exclusive Science Exchange-QB3 marketplace, QB3-affiliated companies will now have access to a customized and secure marketplace where they can instantly order R&D services from a network of more than 2,500 qualified scientific service providers. Science Exchange’s scientific concierge staff also will offer support to QB3’s start-up companies in identifying innovative providers and ordering complex R&D services.

“Science Exchange will help accelerate our companies by giving them access to providers that are experienced with entrepreneurial research and that have already been reviewed and qualified,” said Ioana Aanei, Ph.D., Entrepreneurship Program Manager at QB3. “Many of our startups don’t have the resources to purchase their own capital equipment or do the necessary specialized scientific research in-house.”

“Science Exchange is committed to helping life science companies bring innovative, potentially life-saving products to market,” said Elizabeth Iorns, Ph.D., Founder & CEO of Science Exchange. “While QB3’s companies focus on discovery, we can help eliminate the barriers, including the time and expertise needed to research and qualify contract research organizations (CROs) and scientific service providers. We also help save time and money in contract negotiation, all while ensuring the protection of intellectual property.”

QB3 joins more than 30 enterprise clients and entrepreneurial incubators that are efficiently managing their outsourced R&D with Science Exchange-powered marketplaces.

About QB3

QB3 is the University of California’s hub for innovation and entrepreneurship in the life sciences. The institute supports UC researchers and empowers Bay Area entrepreneurs to launch startup companies and partner with industry. QB3 helps bio-entrepreneurs create hundreds of high-value jobs and bring more than $750 million into the Bay Area each year. With campus divisions at Berkeley, San Francisco, and Santa Cruz, QB3 is also affiliated with the San Francisco incubator [email protected] — home to more than 45 companies — and the seed-stage venture capital firm Mission Bay Capital. Visit us at http://qb3.org/.

 

Science Exchange Appoints Jim Emerich as Chief Financial Officer

September 29, 2017 | Posted by Team in News |

Veteran finance executive Emerich joins Science Exchange to help lead the company through next phase of growth

PALO ALTO, CA, SEPTEMBER 28, 2017 Science Exchange, the world’s leading and most secure platform for outsourced research and development (R&D), announced today it has appointed Jim Emerich as Chief Financial Officer (CFO).Science Exchange CFO Jim Emerich

In this role, Emerich will provide hands-on, metrics-driven financial leadership to help accelerate growth for the company. He will oversee and lead the budgeting and planning process, monitor and communicate progress of key business and financial objectives, and articulate the key drivers of cost and revenue.

“We are thrilled to welcome Jim to our management team. His track record of successfully navigating businesses through periods of financial growth speaks for itself,” said Elizabeth Iorns, Ph.D., co-founder and CEO of Science Exchange. “Science Exchange is in a period of rapid expansion, and Jim will play a key role as we take this business to the next level, helping us accelerate our profitability and guide our financial planning.”

Emerich brings more than 25 years of finance and operations experience to Science Exchange, with a history of boosting performance through fiscal analysis and strategy. Most recently, Emerich was the CFO of BrightEdge Technologies Inc. Previously, he served as CFO at Avangate Inc., Appiro Inc., and Mulesoft Inc. In addition, he has held executive finance roles at SalesForce.com, NotifyMe Networks, NBC Internet, Inc., LDM Technologies, Inc., and General Electric Plastics.

“I have been impressed with Science Exchange’s growth trajectory, the breadth of its service provider network, its client roster of the world’s top bio and pharma companies, and the strength of its current financial operations,” said Emerich.  “The company has proven indispensable to both researchers and R&D organizations, helping to drive both efficiency and access to innovation. I look forward to working with the team to help guide Science Exchange through this next phase of growth and development.”

 

Science Exchange Scientist Trains Minority STEM Students

July 7, 2017 | Posted by Team in Events, News |

We are proud of our own Dr. Gabriel Roybal-Jungemann, Senior Scientist and R&D Specialist at Science Exchange, who will be speaking this week at a career panel aimed at increasing STEM leaders of color. Promoting diversity in science is crucial to achieving Science Exchange’s mission of enabling breakthrough research.

Gabriel joined Science Exchange after 12+ years in biomedical research and teaching at minority-serving institutions. He is also an entrepreneur, having founded his first company in 2013 to help improve family health and address health disparities.

As a scientist of color, Gabriel will be speaking to minority STEM students about entrepreneurship and to encourage alternative careers and innovation.

Read more about the event below!

Gabriel Roybal-Jungemann


This week, a select cohort of underrepresented minority STEM students will begin their path to leadership. Science Exchange will be represented with the participation of Dr. Gabriel Roybal-Jungemann, Senior Scientist, Research and Development Specialist, as a Career Panel Speaker for the inaugural SACNAS Chapter Leadership Institute (CLI).

The CLI is led by Society for Advancement of Chicanos/Hispanics & Native Americans in Science (SACNAS) and funded by the Genentech Foundation. Dr. Roybal-Jungemann has been involved with SACNAS since 2005.

The institute, held July 7 – 8 at San Jose City College, is two full days of small group exercises, keynote speakers, leadership development workshops, networking opportunities, and extensive community building among selected participants from colleges and universities across California.

SACNAS Director of Programs, Mr. Rolando Madrid says the Genentech Foundation is the ideal partner to nurture a new generation of leaders. He notes, “We are proud to partner with the Genentech Foundation to launch our inaugural Chapter Leadership Institute. Genentech understands the importance of investing in our next generation of underrepresented minority scientists and is doing their part to ensure that the future is well developed and prepared to tackle the issues of the 21st century.”

Participants of the CLI are all part of the SACNAS chapter program, a national network of 115 student and professional chapters that work to strengthen community and peer support for minority scientists at the local and regional levels.

Ms. Tanya Beat, manager of the SACNAS Chapter Program, says, “The CLI will equip students with critical take-away tools including individual leadership plans, mentor-mentee relationships, and a rich network of peers and STEM leaders from California.”

Since 2009, SACNAS leadership initiatives have trained a cohort of 30 PhD-level scientists each year, making it the largest group of emerging STEM leaders of color in the country. With the introduction of CLI, SACNAS is expanding leadership training to the undergraduate and graduate student levels, nurturing leaders earlier in their educational and career trajectories.

View the entire SACNAS Chapter Leadership Institute Cohort.

 

About SACNAS & The Genentech Foundation

SACNAS is an inclusive organization dedicated to fostering the success of Chicanos/Hispanics and Native Americans, from college students to professionals, in attaining advanced degrees, careers, and positions of leadership in STEM. Considered the founder of the biotechnology industry, Genentech is leader in the discovery, development, manufacturing, and commercialization of medicines that treat patients with serious or life-threatening medical conditions. The Genentech Foundation focuses on three charitable giving goals: advancing scientific knowledge, enhancing health outcomes, and building strong communities to build real and lasting change.

 

Science Exchange Raises $28M in Series C Funding

June 29, 2017 | Posted by Team in News |
Science Exchange Team

The Science Exchange Team

Funding led by Norwest Venture Partners with participation from Union Square Ventures, Maverick Capital and Collaborative Fund

Palo Alto, CA – June 29, 2017 As further evidence of its position as the world’s leading platform for outsourced research and development (R&D), Science Exchange today announced it has raised $28 million in Series C funding. Founded in response to the global growth in outsourced R&D services, the company has raised more than $58 million since its inception in 2011. Norwest Venture Partners led the latest round with participation from existing investors Union Square Ventures, Maverick Capital, and Collaborative Fund.

“In the last decade, outsourcing of R&D has become a core strategy for improving efficiency and providing access to innovation for top companies globally. Forty percent of R&D spend is now outsourced and this trend continues to grow,” explained Science Exchange CEO Elizabeth Iorns, Ph.D., a research scientist who co-founded the company. “At the same time, businesses are challenged to manage their outsourced R&D. They need to track progress and provider performance across what could be hundreds of service provider relationships, impacting the cost, quality and timeliness of research projects. The Science Exchange platform solves this by removing barriers in the outsourcing process – providing companies with instant access to a network of pre-qualified service providers, as well as contracting, project management and reporting tools.”

As part of the Series C, Casper de Clercq, General Partner at Norwest and veteran of the life sciences industry with more than 20 years of commercialization and operating experience, will join the company’s board.

“Science Exchange has developed an outsourcing platform that is enjoying tremendous momentum as many of the world’s largest pharma and biotech companies have signed up,” said Casper de Clercq, General Partner at Norwest. “They are well-positioned as the leader in a large and expanding market. We are excited to help Science Exchange become the world’s largest platform for outsourced R&D.”

“We’re thrilled to be partnering with such prestigious investors to help us grow our business at such a critical time in the evolution of R&D outsourcing,” commented Iorns. “This investor confidence confirms our business strategy and potential for continued growth.”

Through the Science Exchange platform, researchers have easy and secure access to more than 2,500 of the world’s premier outsourced R&D service providers — qualified contract research organizations (CROs), contract manufacturers (CMOs), academic labs, and government facilities. Thousands of scientists have used the platform to support their pursuit of breakthrough scientific discoveries, including those from 10 of the top 20 biopharma companies. In fact, the company has grown its enterprise-wide strategic sourcing agreements with leading pharmaceutical companies by more than 2,000 percent since 2015.

Science Exchange plans to use the funding to continue its expansion beyond biopharma into other industries where scientists are faced with R&D outsourcing challenges – including agricultural science, cosmetics, aerospace and industrial chemicals. The company will strategically hire across product, engineering, sales, marketing, and customer success.

About Science Exchange
Science Exchange is the world’s leading platform for outsourced research, providing an efficient procure-to-pay platform for ordering 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 scientists’ access to innovation and improves productivity, freeing them up from the administrative tasks and delays associated with sourcing, establishing and managing service provider contracts. Additionally, the Science Exchange enterprise program enables organizations to consolidate research R&D outsourcing spend into a single strategic relationship, driving efficiency and 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 http://www.scienceexchange.com. Follow the company on Twitter @ScienceExchange.

About Norwest Venture Partners

Norwest Venture Partners is a leading Silicon-Valley based venture capital and growth equity investment firm managing more than $6 billion in capital. Since our inception, we have invested in more than 600 companies. The firm invests in early to late stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare. We offer a deep network of connections, operating experience, and a wide range of impactful services to help CEOs and founders advance on their journey. Norwest has offices in Palo Alto and San Francisco, with subsidiaries in Mumbai and Bengaluru, India and Herzelia, Israel. For more information, please visit http://www.nvp.com. Follow Norwest on Twitter @NorwestVP.

# # #

Media Contacts

Kerry Metzdorf
Representing Science Exchange
[email protected]
978-463-2575

Ellie Javadi
Norwest Venture Partners
[email protected]
650-289-2227

 

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