Synapse Medicine, French creator of a ‘medication intelligence platform’ dedicated to correct drug use, has raised $8 million in a funding round led by by the MACSF, a French insurance provider for healthcare professionals, with the support of XAnge, BNP Paribas, BPI and Nicolas Dessaigne, co-founder of Algolia.
In a press release, the Bordeaux-based startup cited that medicines are responsible for 130,000 hospitalizations and 30,000 deaths annually in countries such as France. “That is the equivalent to the death toll and hospitalization numbers of the COVID-19 epidemic occurring every year in the country,” Synapse points out.
Applying AI to pharmacology, the team wants to ensure the safety of prescription drugs in the new age of telemedicine by making information widely available — to healthcare institutions, professionals and the general public. The SaaS platform is also used by telemedicine companies, integrated into their own platforms as a turnkey prescription solution.
“Since the creation of Synapse Medicine, our mission has always been to provide everyone, everywhere in the world, with easy access to reliable and up-to-date medical information. This new funding round will allow us to move faster going forward and to bring Synapse within reach of anyone who needs it,” says co-founder and CEO Dr. Clément Goehrs.
Founded in 2017, the medtech company has now raised $11 million over a 14-month period (starting with a €2.5 million seed round in March 2019) and also tripled the size of its staff.
Stanislas Subra, head of venture capital investments at MACSF, commented: “Founded by two doctors and supported by a strong multidisciplinary team with international ambitions, with a leadership position and highly innovative technology on the dynamic telemedicine and prescription tool markets, Synapse Medicine has everything it takes to become a global health tech champion in the next few years.”
Photo: co-founders Clément Goehrs, Louis Letinier and Bruno Thiao-Layel