What You Should Know:
– Kythera Labs, a healthcare technology and data analytics company, has secured $20M in Series A funding and debt financing from BIP Ventures and CIBC.
– The funding will support the growth and scaling of Wayfinder, Kythera’s data-transforming technology platform, and the development and adoption of new and existing offerings. It will also be used to expand partnerships with industry leaders such as Datavant and Databricks.
WayFinder Data Technology
Kythera Labs aims to change how Life Sciences companies and healthcare providers use real-world data (RWD) to accelerate solutions and reduce data silos, unlocking the potential of RWD. Wayfinder, Kythera Labs’ data technology platform, provides access to real-world healthcare data spanning over 8 years, covering 320 million lives and 29.3 billion encounters. It is built on Databricks and offers enterprise-grade scalability. Kythera has experienced remarkable growth in the first half of 2023, with a 41% expected compound annual growth rate (CAGR) and a 245% year-over-year increase in platform utilization.
New Chief Science Officer
In addition, the company has appointed a new Chief Science Officer (CSO) to lead Life Sciences and BioPharma initiatives and a Chief Commercial Officer (CCO) to accelerate business growth.