Newly-unveiled startup to speed up biotech and drug development NEWTON, Mass. , Oct. 24, 2024 /PRNewswire/ -- Dash Bio , an innovator in tech-enabled services for drug development, announced today that it has raised $6.
5M in seed financing. The round was led by Freestyle Capital, with participation from Swift Ventures, LifeX Ventures, and other private investors. Despite tremendous innovation in biotech research over the past decade – from pioneering applications of AI to major breakthroughs in mRNA and CRISPR – drug development remains slow and expensive, with new drugs costing an average of $6.
7 billion and taking 12 years to get from concept to launch. That lag is driven by manual processes and legacy systems, which dramatically reduce the efficiency of clinical development and the effectiveness of the industry overall. "Development is broken in biotech today, and we all pay the price," says Dave Johnson , CEO and co-founder of Dash Bio and former Chief Data & AI Officer at Moderna.
"We founded Dash Bio to ensure that groundbreaking medicines reach those who need them — faster." Now out of stealth, Dash Bio takes a technology-first approach to developing critical services across the drug development lifecycle. The company is building new capabilities that leverage AI, robotics, and fully-integrated software to fundamentally reinvent the way drugs are brought to market.
Their first capability is a highly-automated clinical bioanalysis lab that promises to deliver GLP-.