Magnetic Ventures

Magnetic recently co-led the Seed financing of Weave Bio. Weave is a testament to the power of Generative AI and its ability to accelerate the delivery of new therapies to patients by streamlining the regulatory process. Read More: https://lnkd.in/edhKiMgK

Magnetic Ventures co-lead with Innovation Endeavors the $10M Seed financing for Weave Bio co-founded by Umut Eser, Venture Partner with Magnetic. There are many processes in pharma and biotech which are currently inefficient - Weave is a generative AI company which is focused on improving these inefficiencies, starting with regulatory. Weave's flagship product, AutoIND, revolutionizes the process of generating Investigational New Drug applications (INDs) by speeding up and streamlining these applications by orders of magnitude faster than traditional methods. Generative AI is integrated into every part of AutoIND. Weave is tackling a problem, which impacts every single therapeutics company, regardless of size, stage, modality, or disease area. By leveraging generative AI, Weave is poised to dramatically accelerate regulatory filings, and help revolutionize the drug development landscape, which will help life-saving therapies reach patients faster. Magnetic’s founding investment thesis was that technology tools will impact every part of the healthcare ecosystem. We have invested across this ecosystem in companies spanning the spectrum, from drug discovery to clinical trials and manufacturing. We spend a great deal of time thinking about industry pain points and Weave is a strong example of the power of deep technology and its ability to dramatically accelerate our ability to deliver new therapies to patients. Congratulations to Umut, Ari Caroline and the entire Weave team. #deeptech #generativeAI #AI #healthcareinnovation #patients

Congratulations to Magnetic portfolio company SameSky Health on their merger with GroundGame.Health. This merged entity will accelerate the company’s shared mission to improve health and advance health equity by closing the loop around Socially Determinants of Health and gaps in care for underserved patients. Together, they will now extend reach across all 50 states, leveraging SameSky’s culturally-tailored outreach and GroundGame’s innovative platform that connects Community-Based Organizations with health plans. Following the merger the company also announced $17 million in new funding from 7wireVentures and Elevance Health. Magnetic invested in SameSky in 2021 because the gaps in care were obvious and stunning. We knew a solution was needed to drive more equitable care and that the solution must be technology-based. Since our investment the company has developed a sophisticated and robust technology stack, which includes interactive voice response modality that applies Conversational AI to increase the intelligence and personalization of voice phone interactions, enhancing patient’s experiences.  We look forward to seeing the transformative impacts of this combined entity with a goal of dramatically improving care for all. Congratulations to Same Sky Founder Abner Mason and the SameSky team. #HealthcareInnovation #SocialDeterminantsOfHealth #HealthEquity #MergersAndAcquisitions #MagneticVentures

Magnetic continues to lean into Relation due to our strong belief in the power of their pioneering platform, which seamlessly integrates the most advanced ML with single-cell analysis and genomics, and our confidence in the team. This new funding was led by DCVC with co-lead NVIDIA’s NVentures, and includes new investors ARK Investment Management LLC and Deerfield Management and existing investors. We couldn't be more excited about their future! #AI #aidrugdiscovery #deeptech #techbio #ML #seedcapital #biotech #biotechinnovation #drugdiscovery 

We are delighted to continue to work with Jason Pontin and Zachary Bogue DCVC, to welcome new investor NVIDIA, and to collectively support Relation as they continue to build a powerful company combining the power of ML with rapid, iterative lab experiments to accelerate drug discovery and bring treatments to patients faster. #techbio #AI #ML #omics #techinnovation #healthinnovation #seedfinancing 

Well said, Benjamin. Relation walks swiftly and with purpose, and we at Magnetic could not be more delighted to be a partner to you as you continue to build a company with purpose and passion.

Magnetic portfolio company, Paradigm was founded to use technology to change the status quo of how we conduct clinical trials - to focus on creating a more equitable model, where any patient, anywhere, can have access to best possible care including clinical trials as a routine care option. Paradigm recently worked with OpenAI to evaluate #GPT4 to reduce the administrative burden of screening patients for clinical trials. The results achieved were quite stunning, exceeding accuracy of industry best practice while dramatically decreasing the time to read, extract, and interpret medical record data. By incorporating LLMs into Paradigm’s platform, they can screen every patient faster, more accurately, and at a dramatically lower cost, helping create equitable access for any patient, anywhere. This is just another example of the impact technology is having across the healthcare ecosystem. Congratulations to Paradigm and OpenAI team. #healthequity #clinicaltrials #deeptech #convergence #AI #healthcareinnovation https://lnkd.in/gxAkmmGP

Yesterday SWIPE (Senior Women in Private Equity) Network announced that research from Venture Capital Journal found a total of 102 women-led firms have raised a combined $5 billion since the start of 2022! While we often focus on our portfolio companies' progress and achievements. Appreciation must be voiced for our two amazing women who are the backbone of Magnetic Ventures Thank you to Christine Aylward and Jillian Shaw, Ph.D.! From day one, Christine has been committed to advancing exceptional science, dedicating countless hours to assist our portfolio companies and ensure that the vital science of tomorrow comes to fruition. Somehow Christine has discovered a way to get 25 hours out a day, supporting not only the science of tomorrow but also the changemakers of tomorrow. Christine takes on mentoring Northeastern students on their 6-month Co-op positions at Magnetic Ventures to give them the experience needed to continue the work of investing in great science. From roles as an Investor, Advisor, and Founder to being a Mentor, Mother, and a beacon of inspiration for young women aspiring to enter Finance, Christine has done it all. We are so proud to have Christine and all the different roles she plays, as the head of Magnetic! Jillian is a scientist first and an investor second. Her passion and excitement for meaningful and impactful changes across Biotech and Pharma are infectious fervor that fuels the Magnetic team day in and day out. Jillian's understanding of science both in breadth and depth has been a key driver in the selection and support of our Portfolio companies. Like Christine, Jillian handles the work of not only Magnetic but also as a Scientific Advisor to the Broad Institute of MIT and Harvard while still managing to be an amazing rock climber! We are so grateful for these two outstanding women who spearhead the charge toward scientific progress both in and outside of the lab and set an outstanding example for young women to follow. Thank you to both Christine and Jillian, we wouldn't know what to do without you. (probably try to ChatGPT everything) - Umut and Caedon

Magnetic portfolio company Resilience announced a strategic collaboration with BridgeBio to manufacture and advance their lead investigational gene therapy treatments, BBP-812  and BBP-631. As part of the collaboration, Resilience will provide partial in-kind clinical and pre-commercial manufacturing services and, in return, will receive future development and approval milestones, as well as low-to-mid single-digit royalties for the treatments. #Resilience #biomanufacturing #biologics #genetherapy Read more about Relation’s collaboration with BridgeBio below: https://lnkd.in/gkt_DWdV

Congratulations to Magnetic portfolio company Paradigm for collaborating with Bristol Myers Squibb to build a new end-to-end model for clinical trials, starting in oncology! 

 Paradigm is working across the most intractable sticking points that make clinical trials so challenging to implement. Through this relationship, Bristol Myers Squibb will be able to recruit patients from the growing Paradigm Network of health systems, all of whom serve diverse groups of patients and are already using Paradigm software to reduce the burden of clinical trial recruitment and operations. 
#ParadigmInc #clinicaltrials #clinicalresearch #oncology
 Read more about Paradigm’s collaboration with Bristol Myers Squibb below:
 https://lnkd.in/gqnvkVXw