Benchling Acquires Overwatch Research to Accelerate Breakthroughs for Biopharma Companies

(Adnkronos) – R&D Cloud leader makes acquisition to create the industry’s first comprehensive, cloud-native in vivo solution and deepen its presence in Europe 

SAN FRANCISCO, Feb. 24, 2022 /PRNewswire/ — Benchling, pioneer of the R&D Cloud powering the biotechnology industry, announced it has acquired Overwatch Research, a Belfast-based startup creating software to accelerate in vivo research. Overwatch’s configurable, end-to-end study management and execution system broadens the capabilities of Benchling’s R&D Cloud, which serves as a single source of truth for biotech R&D. Through this acquisition, Benchling will create the industry’s first comprehensive, cloud-native in vivo solution, completing its Early Development offering and helping customers accelerate the time to bring products to the clinic. 

In vivo studies are a critical component of drug discovery and development, and are required prior to any first-in-human studies of a drug. This process is known as preclinical development. 

Benchling and Overwatch share a vision of digitally transforming R&D. Scientists relying on paper notebooks, spreadsheets, and other manual processes for capturing and analyzing complex experimental data often find it difficult to reproduce results, a fundamental part of the scientific method. In the U.S. alone, the annual economic cost of biomedical research — including in vivo studies — that cannot be replicated was estimated at $10 to $50 billion. According to a recent report from The Reproducibility Project: Cancer Biology, more than half of high-impact cancer lab studies could not be replicated. 

“Our software tackles core challenges contributing to the preclinical reproducibility crisis. This helps biopharmaceutical companies and contract research organizations (CROs) reduce errors, increase confidence for first-in-human studies, and ultimately get drugs to patients faster,” said 

Chris Armstrong, co-founder and CEO of Overwatch. “By incorporating our in vivo study capabilities into Benchling’s industry-leading R&D Cloud, we’ll be able to reach more scientists and help them turn initial research findings into life-saving products.” 

“Overwatch impressed us with their ability to build the first truly modern product for in vivo studies that is beloved by its customers,” said Sajith Wickramasekara, CEO and co-founder of Benchling. “Many of our biopharma and CRO customers are looking for a comprehensive offering that brings together Benchling’s bioanalytical capabilities with Overwatch’s in vivo study management and we look forward to Overwatch addressing that growing demand. Welcoming the Overwatch team to Benchling will also deepen our presence in Europe.” 

Benchling recorded triple-digit year-over-year revenue growth in its fiscal quarter ending October 2021, with a 70% increase in year-over-year customer count. In the last year, Benchling has introduced new capabilities and solutions, including support for Early Development and RNA therapeutics. In just over one year since entering the EMEA market, Benchling has reached over 120 customers in Europe, including Alchemab Therapeutics, AviadoBio Ltd, Cutiss AG, Wellcome Sanger Institute’s Tree of Life programme, Selexis SA, and Syngenta, and grown its European team to more than 90 people. 

About Benchling Benchling is the pioneer of the R&D Cloud, software that powers the biotechnology industry. More than 200,000 scientists at over 700 companies and 7,000 research institutions globally have adopted Benchling’s R&D Cloud to make breakthrough discoveries and bring the next generation of medicines, food, and materials to market faster than ever before. The R&D Cloud helps these organizations modernize their scientific processes and accelerate collaboration so they can convert the complexity of biology into world-changing results. For more, please visit Benchling.com. 

Forward-Looking Statements This press release contains express and implied forward-looking statements. All statements in this press release other than statements of historical facts, including our expectations regarding our business strategy, potential market and growth opportunities and our plans for future expansion, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “estimate,” “expect,” “potential”, “intend,” “may,” “will,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are made as of the date they were first issued and are based largely on our current expectations and projections about future events and trends that we believe may affect our financial condition, results of operations, business strategy, short-term and long-term business operations and objectives, and financial needs, as well as beliefs and assumptions of management. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors, including but not limited to our ability to sustain our growth rates, our sales and marketing capabilities, our ability to attract new customers or expand potential customer and sales pipeline, the timing and success of any new features and solutions introduced by us, the effect of uncertainties related to the global COVID-19 pandemic on our business, results of operations, and financial condition, overall economic conditions, and our ability to achieve market acceptance of our solutions. Moreover, we operate in very competitive and rapidly changing environments, and new risks may emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. You should not rely upon the forward-looking statements as predictions of future events. The future events discussed in this press release may not occur and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance, achievements, or events and circumstances reflected in the forward-looking statements will occur. 

Logo – https://mma.prnewswire.com/media/951242/Benchling_Logo.jpg  

 

Post navigation

Lascia un commento

Lascia un commento

Il tuo indirizzo email non sarà pubblicato.

Questo sito usa Akismet per ridurre lo spam. Scopri come i tuoi dati vengono elaborati.

P