AllStripes Raises $50 million to support rare disease research
AllStripes recently closed a $50 million Series B funding round led by Lux Capital, with participation from McKesson Ventures, JAZZ Venture Partners, Spark Capital, Medidata Solutions (a Dassault Systèmes company), and Maveron, along with angel investors including Arif Nathoo, CEO of McKesson Ventures portfolio company Komodo Health; and Leila Zegna, director of the Kabuki Syndrome Foundation.
AllStripes, formerly known as RDMD was founded in 2017 by Nancy Yu, who had previously been in corporate development for 23andMe; and Onno Faber, a developer who was diagnosed with the rare disease neurofibromatosis type 2. The company has developed a technology platform that generates regulatory-ready evidence to accelerate research into rare diseases such as Batten disease, Hunter Syndrome, and sickle cell anemia, and research into drug development for these conditions. It has also developed a patient application that allows patients and families to securely participate in treatment research online.
“There are more than 7,000 rare diseases, and only 5 percent have treatments. By working with AllStripes, we hope to improve the number of treatments available by accelerating research for rare diseases,” said Professor James Wilson, MD, PhD, director of the University of Pennsylvania’s gene therapy program and orphan disease center. Penn has collaborated with AllStripes on the inherited disorders Lesch-Nyhan Disease and Crigler Najjar syndrome type 1.
“Beginning research on a rare condition can feel like being dropped into a new world without a map and we are on a mission to change that with data, said Yu. “We’re proud that so many of our current investors have recognized the progress we’ve made and are continuing to support our vision to transform rare disease research. This investment will allow us to better support the rare disease community, where each person’s experience is essential to understanding disease progression—ultimately leading to new treatments for rare disease patients around the globe.”
AllStripes currently partners with more than 30 patient advocacy organizations across the 40 conditions it is now studying, supporting more than 3,000 users to date. The funding the company received will support launching 100 new rare disease research programs and the expansion of AllStripes’ global operational footprint, technology, and data automation enhancements.
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