Bordeaux-based Synapse Medicine has raised €25 million in a Series B funding round in order to accelerate the deployment of its “Medication Intelligence” platform. Using a series of AI-powered algorithms, Synapse Medicine helps doctors make better decisions on which medicines to prescribe to which patients, ultimately aiming to avoid any adverse reactions.
In order to facilitate a speedier rollout, the company also intends to use the funding to triple its workforce to 150 individuals, with recruitment drives planned for Paris, Bordeaux, Berlin, London, New York, and Tokyo over the next two years. To date, the firm has raised €35 million.
In the U.S. alone, annually, and at a cost of over $528 billion, some 1.3 million emergency room visits and 350,000 hospital admissions are triggered by adverse reactions to medicines. Zeroing in on Europe, these same adverse medicine reactions account for 8 percent to 12 percent of all hospital admissions.
To combat these statistics, Synapse Medicine’s proprietary technology pools and organises up-to-date drug information, ultimately helping both the general public and healthcare providers make better, more informed decisions about which drugs might have an adverse effect on which patients.
Completely independent of the pharmaceutical industry and already in use by a number of French health institutions (ANSM, ANS), hospitals (AP-HP), Hospices Civils de Lyon (public university teaching hospital), as well as other healthtech services (MesDocteurs, Teladoc Health), Synapse Medicine now plans to roll out its services to a wider audience in the U.S., Europe, and Asia via partnerships with both public and private institutions.
Synapse Medicine’s €25 million Series B funding round was led by Korelya Capital, with existing investors XAnge, MACSF, and BNP Paribas Développement, as well as new investor Mutuelles Impact, also participating.
"We are once again supporting the deployment of Synapse Medicine, a start-up that we spotted at a very early stage. At that time, we were already impressed by the founders, who represent a new generation of entrepreneurial doctors, and by the real impact of the product in terms of public health,” commented XAnge’s Guillaume Meulle.