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Elucidata Raises Seed Funding to Transform Drug Discovery and Accelerate Growth

Elucidata
Corporation, a data science company focused on developing tools and
software solutions for drug discovery, announced today that it has
raised $1.7 million in seed funding. The financing round was led by
Hyperplane Venture Capital along with several prominent angels.

Elucidata’s tools allow drug discovery scientists to analyze complex
datasets and effectively enable drug discovery. PollyTM,
the company’s cloud-based data analytics platform, can drastically
transform the end-to-end drug discovery process and allow for more rapid
data turnaround and analysis. Elucidata’s novel metabolomics platform,
released in 2018, is an extendable platform that can easily adapt to
many types of data workflows and features an array of applications that
can process, analyze, integrate, and visualize biological data across
metabolomics, genomics, transcriptomics, and proteomics, among others.

“The way biological data is used to drive discovery in the industry is
often slow and cumbersome,” says Elucidata co-founder Abhishek Jha.

“Our mission is to address the needs of all the very talented scientists
who are discovering new life-saving drugs. They are sitting on very
exciting datasets but are still manually crunching through spreadsheets
to analyze vast amounts of data,” Jha adds. His experience at Agios
Pharmaceuticals as an early member, Jha believes, has shaped his outlook
of how data science can drive drug discovery. “Data generation has been
modernized; data analysis is lagging. Elucidata aims to bridge this gap
and ultimately impact human lives in profound ways.”

“Drug discovery is a slow and tedious process,” says co-founder Swetabh
Pathak. “Polly lets you fail or iterate experiments faster and allows
for cooperative, real-time collaboration, which makes target discovery
more effective.”

Elucidata’s data-driven drug discovery platform is at the intersection
of computational biology, software engineering, modeling, machine
learning, statistics, and design. Over the past three years, Elucidata
has partnered and rolled-out with 15 biotech and pharmaceutical
companies to streamline their drug discovery process. In the last month
alone, close to one-thousand -omics datasets were uploaded to Polly by
scientists across the world.

“The ability to automate data processing allows you to spend more time
applying the new information and pushing research forward,” said Dr.
Richard Kibbey, Associate Professor of Medicine (Endocrinology) and of
Cellular And Molecular Physiology at Yale University. “Polly has the
ability to allow different users with distinct ideas and expertise to
contribute, build, develop, and take advantage of the research community
as a whole.”

“It helps accelerate discovery in ways not possible through the current
lab-to-lab or individual-to-individual coordination practices,” Dr.
Kibbey added.

“Data analysis is the biggest bottleneck for metabolomics research.
Elucidata has worked directly with us to streamline our analysis
pipeline, accelerating the pace of our research,” explained Russell
Jones of McGill University and the Van Andel Research Institute.

Elucidata is based out of Cambridge, MA, and New Delhi, India. The
company has been bootstrapped to date and while it has already achieved
profitability, the team plans to use the seed funding to expand its
Cambridge team, add to its operations in New Delhi, and, according to
Jha, “execute on and launch new exciting discovery tools.”

“The potential for Elucidata’s platform to improve the lives of
countless people — from those suffering from diabetes to a wide range of
other diseases — is unprecedented,” says Vivjan Myrto, Managing Partner
at Hyperplane Venture Capital. “The impact on metabolomics is
far-reaching, and I don’t even think we can truly imagine how
Elucidata’s platform will enable vital drugs to get to the people who
need them in the future. Being able to evaluate and analyze a cell in
real-time is not out the realm of possibility anymore.”

About – Elucidata
was founded in 2015 with the mandate to transform the way biological
data is used to drive decisions in R&D labs in both academia and
industry. Polly, an end-to-end, vendor-neutral, cloud-based platform
standardizes and streamlines the data analysis workflows for -omics
experiments. Elucidata’s long-term goal is to utilize its data analysis
platform to integrate different types of -omics data in order to
understand cellular phenotypes and accelerate the pace of drug
discovery. Elucidata has offices in Cambridge, MA, and New Delhi, India.

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