Investing in Cromatic

Cromatic Closes $5.3 Million in Oversubscribed Seed Round to Modernize Life Science R&D Outsourcing

I’m excited to announce my investment in Cromatic.

The demand for biotech and pharmaceutical R&D outsourcing is growing rapidly and is expected to be worth $275 billion by 2030. The explosion of biotech in the last decade has seen a doubling of the number of drug candidates under development, with many emerging biotechs outsourcing up to 90% of R&D and operating as “virtual” companies.

Across the industry—from small virtual biotechs to large pharma—drug developers are managing R&D costs, addressing capacity constraints, and accessing innovation by outsourcing activities that were historically handled in-house. However, the outsourced R&D service market is highly fragmented and rife with challenges for scientists and procurement departments. Finding the right R&D partner can take months and many projects fail due to poor communication and project management.

Introducing Cromatic

Cromatic’s seamless matching platform helps biotech companies connect with vetted CROs in less than 24 hours. The platform includes a suite of software tools for communication, collaboration, project and management along with a fully integrated payment solution. In the few months since the launch of its platform, Cromatic has over $15 million in R&D budget under management and has established partnerships with leading biotech accelerators, including Nucleate, SOSV, and ValleyDAO.

Couldn’t be more thrilled to be partnering with Ann and Anne on this!