The largest European B2B pharmaceutical marketplace closed a venture seed round led by Practica Capital. Iron Wolf Capital, Pandos and a group of angel investors also participated in the funding round.
Pipelinepharma is a B2B pharmaceutical marketplace that connects pharmaceutical manufacturers with distributors around the globe. The marketplace has already facilitated pharmaceutical product licensing, supply, acquisition deals of more than €200M in value covering more than 30 markets on 5 continents.
“We are certain that future pharmaceutical B2B partnerships deals will take place online. The disruption of traditional dealmaking due to the pandemic only accelerated the shift to digital channels. At Pipelinepharma we provide a digital platform for pharma buyers to match with the right manufacturers, and for sellers – to effortlessly expand their market reach”, – said CEO of Pipelinepharma Mindaugas Zagorskis.
Pipelinepharma was founded in 2016. The platform boasts one the largest global databases of qualified finished dosage formulation products, with more than 60 000 pharmaceuticals from 1 300 qualified manufacturers. Each product features rich up-to-date data, including country of origin, dossier type, GMP approvals and many more, which significantly reduce product discovery and dossier auditing time.
“We have a direct working relationship with manufacturers featured on the platform, perform buyer qualification and assist in finding the best buyer and seller match up until the signature of term-sheet agreement”, – added Mindaugas Zagorskis.
The platform reduces time-to-term-sheet to as few as 30 days – a process which in traditional pharmaceutical dealmaking took months or even years to complete.
“When online marketplaces serve even the most niche B2B markets, you would not expect a €300B global generic pharmaceutical industry to be so reliant on offline events, tentpole trade fairs or broker intermediaries. Digital transformation of pharma commerce was long overdue.