|David Greenwald (top) and Brigham Hyde|
Relay Technology Management
Focus: Software analytics for life sciences
Funding: Nature Publishing Group, angels
Headquarters: Cambridge, MA
Founders: David Greenwald and Brigham Hyde
In evaluating biotech assets, the axiom often holds true that "beauty is in the eye of the beholder." One company values an experimental compound differently than the next, all the time. Yet biopharma dealmaking is a high-stakes game, with plenty of cases in which gambles on unproven science ended in severe disappointment or sheer disaster.
What if purveyors of biotech assets operated more like stockbrokers? It'd be naïve to suggest that Wall Street types had never lost a bet, but financial whizzes have much more sophisticated means of keeping tabs on and evaluating assets than their biopharma counterparts. At Relay Technology Management, the scientist-led startup team wants to do for life sciences stakeholders what Bloomberg started doing for Wall Street types decades ago--enable decisions to be made based on objective data.
The Cambridge, MA-based startup's software platform aggregates data from clinical trials, news wires, tech transfer outfits, publications and other sources. Its analytical capabilities are designed to show users the comparative value of such assets as compounds, scientists and institutions. By ranking biopharma assets, the system strives to help dealmakers in the industry make informed decisions and discover technologies, according to the company.
On May 22, Relay unveiled the startup's first product called Business Development Live, after using its web-based software in projects with pharma outfits in recent years and scoring a partnership and strategic investment from Nature Publishing group in 2011. (I was given early access to a dashboard set up with the company's technology, and was easily able to visualize and quantify oncology deal trends from the past several years.)