Auxilius: Money Shouldn’t Matter When Saving Lives

This isn’t just another “startup born from the pandemic post” –  it is about the pandemic. Still, two years later, we saw powerful institutions fail to deliver care and saw companies like Moderna rise to the occasion of producing life saving medicine and vaccinations. This is not the rule, but the exception. Biotechs are not set up to succeed today. A notorious lack of funding and opaque agreements with their clinical production partners leaves individuals with immense knowledge and training without the operational and financial chops to execute transformative medical science. Auxilius is changing this. 

Auxilius is a platform that enables biotechs to focus on the science by streamlining their core FP&A (financial planning and analysis). We met the team about a year and a half ago when the pandemic was raging in full force. Not only were we blown away by Adam and his team’s expertise and experience in biotech and pharma, but we also could not think of a more timely industry to be superpowered by meaningful technology. 

It was incredibly hard for us to wrap our heads around the fact that clinical trials fail not because the science isn’t sound (these companies have more PhDs than we can count), but because the financial management simply isn’t there – almost 25% of Phase 3 trials fail due to lack of funding. What’s more is that their sponsors and their external vendors are no safety net as the industry becomes increasingly outsourced and decentralized. Trials must live milestone to milestone to achieve clinical outcomes with viable commercial success. 

We’ve seen how financial leaders at biopharma companies, from even the very first diligence call to the customers they have today, have been floored by Auxilius’ value offering. Historically, industry agnostic tooling had failed to yield results without a deep understanding of the complicated set of stakeholders that come into play for any biotech’s lifecycle. The Auxilius toolset, built by biotech veterans, is purpose built for this complexity: contract terms, change orders, clinical milestones, and much more to keep budgets on track and all in one place. 

The question then became – how quickly can the team build this platform and put it into their customers hands? That’s why we chose to partner with Auxilius after receiving clear signals from the market from the very beginning as their lead investor. We are now ecstatic to announce that we have participated in their most recent round led by our good friends at Renegade Partners. 

Money is the last thing individuals with life-saving knowledge should worry about - if you’re passionate about this, consider joining the Auxilius team here: https://www.auxili.us/careers