Lifebit Biotech Ltd – the leading precision medicine software company 
democratising access to biomedical data for governments, healthcare providers 
and research teams worldwide – has raised a $60 million Series B funding round, 
led by global investment firm Tiger Global Management. Existing investors 
Eurazeo, Pentech Ventures, and Beacon Capital also participated. 

Unlocking access to biomedical data has the power to rid society of its most 
devastating diseases. Yet despite the rapid growth of biomedical data in recent 
years, only a fraction of it is being utilised for drug discovery and precision 
medicine. This is because the data needed for such vital work is often 
inaccessible and unusable. Whether that's down to governance, regulations, 
security concerns, or inadequate technology. 

Lifebit builds enterprise data platforms for use by organisations with complex 
and sensitive biomedical datasets. This patented technology solves the biggest 
roadblock for precision medicine - making highly sensitive biomedical data 
securely accessible by bringing researchers' analysis and computation to where 
data resides, instead of moving data around. 

Lifebit's accompanying suite of AI-powered end-to-end software solutions 
provide faster data insights, accelerate drug discovery pipelines, and improve 
clinical trials success. This approach has seen Lifebit acquire high-profile 
clients across the public and private sectors including contracts to power the 
UK Government agency, Genomics England, and a long-term AI-partnership with 
German pharma giant Boehringer Ingelheim.

"Making distributed highly-sensitive biomedical data usable while keeping it 
secure in-place and combining it with other data has never been possible, until 
now," said Dr. Maria Chatzou Dunford, Lifebit CEO. "It's great to see how 
excited our investors are to support our mission and first-of-its-kind 
transformative technology. With this new strategic backing, we will continue to 
expand our global presence, with a focus on customer success and accelerating 
the growth of our team."  

Partner at Tiger Global, John Curtius, added: "We are confident that Lifebit's 
innovative and industry-leading software solutions, paired with their 
customer-first approach, will drive rapid global adoption and accelerate 
breakthroughs in precision medicine."

For the full release, click here.

About Lifebit Biotech, Ltd.

Lifebit builds enterprise data platforms for use by organisations with complex 
and sensitive biomedical datasets. Lifebit's patented federated technology 
securely unlocks access to biomedical data. From providing Trusted Research 
Environments for national precision medicine programmes to enabling 
pharmaceutical companies to discover new drug targets faster, Lifebit empowers 
customers to transform how they leverage sensitive biomedical data.

About Tiger Global Management, LLC

Tiger Global is an investment firm focused on private and public companies in 
the software, internet, and financial technology sectors. The firm backs 
dynamic, market-leading companies in its core focus areas, with investments 
including Stripe, Databricks and Facebook.

Source: Lifebit Biotech Ltd