Healthcare services provider Cardinal Health led the $33m second tranche of a series C round for Vineti, the US-based operator of a personalised medicine management product, on Tuesday that now totals $68m.
McKesson Ventures, the investment arm of pharmaceutical distributor McKesson, also took part in the round, as did pharmaceutical firm Novartis, Canaan Partners, Threshold Ventures, Section 32, Casdin Capital, LifeForce Capital, Marc Benioff and undisclosed other investors.
Formerly known as Vitruvian Networks, Vineti has built a cloud software platform that automates the control of processes such as manufacturing and delivery for personalised medicine producers. The latest funding has been earmarked for the expansion of its Personalized Therapy Management product.
The company was formed as a joint venture by industrial technology conglomerate General Electric (GE) and medical researcher and care provider Mayo Clinic.
Cardinal also led the round’s $35m first close in February this year, investing with pharmaceutical company Gilead Sciences’ Kite Pharma subsidiary, Novartis, Canaan Partners, Casdin Capital, LifeForce Capital, Threshold Ventures, Section 32, Hive Ventures and unnamed others.
The round follows a $33.5m series B round in 2018 co-led by Threshold Ventures and Canaan Partners and backed by Section 32, Casdin Capital, LifeForce Capital and GE Ventures, the GE corporate venturing unit that has since been divesting its portfolio.
Threshold Ventures (then known as DFJ) and LifeForce Capital had co-led Vineti’s $13.8m series A round the previous year. GE Ventures and Mayo Clinic’s strategic investment subsidiary, Mayo Clinic Ventures, also participated.
