NuMedii raises $3.5m for pharma data

NuMedii, a big data spin-out of Stanford University, has received $3.5m in a series A round to develop its pharma platform.

The round was led by venture firms Claremont Creek Ventures and Lightspeed Venture Partners with participation by Life Science Angels and other angels.

NuMedii’s platform looks to pair existing drugs with new disease applications through the use of big data instead of wet labs. The company, launched in 2008, has already signed its first product-focused deal with cystic fibrosis and gastrointestinal disorder specialist firm Aptalis Pharma.

The company is also expanding its board of directors to include Claremont’s Ted Driscoll as chairman and also Claremont venture partner Brad Webb and Jazz Pharmaceutical founder Samuel Saks.  Craig Webb, a founding scientist at the Van Andel Research Institute in Michigan, was named as the firm’s new chief scientific officer.

Gini Deshpande, NuMedii co-founder and chief executive, said. “NuMedii’s drug development approach is extremely capital efficient and is designed to be much more successful in bringing new therapeutics to patients. We are excited to have the backing of investors and advisors who have a track record of successfully establishing life science companies and who support our long term vision for our company.”