TMRW Life Sciences Raises $25 Million in Series B Funding Led by 5AM Ventures to Advance IVF Automation Platform

On December 17, 2019, VCBeat (WeChat Official Account: vcbeat) learned that TMRW Life Sciences (hereinafter referred to as “TMRW”), a provider of mechanized automation platforms for in vitro fertilization (IVF), announced the completion of a $25 million Series B financing round led by 5AM Ventures. This recent funding brings TMRW’s total investment over the past 12 months to $39 million. As an integrated embryology platform featuring automation, software guidance, and cryogenic management, the TMRW ivfOS™ platform leverages RFID technology to provide a 100% physical and digital chain of custody, protecting and tracking oocytes, embryos, and sperm, with the aim of serving tens of millions of users in the coming years.

It is reported that on May 29, 2019, TMRW secured $12 million in Series A financing, led by the Special Situations Life Sciences Innovation Fund.

TMRW’s founding team consists largely of the most renowned pioneers in fertility, embryology, vitrification, and cryogenic management, who have spearheaded a revolution in the field of in vitro fertilization (IVF). TMRW has introduced the first automated and robotic cryopreservation management platform specifically designed for IVF. This platform ensures a 100% physical and digital chain of custody, along with continuous local and remote monitoring.

TMRW’s platform significantly reduces clinicians’ and patients’ concerns about the hygienic conditions surrounding cryopreserved embryos and gametes by performing up to 10,000 “health checks” daily, ensuring that the environment in which these specimens are maintained meets established standards. The platform’s automated and digital controls provide a safe and efficient method for storing and tracking embryos and gametes, addressing issues associated with the manual operations prevalent in current industry practices. TMRW has set a new standard for in vitro fertilization (IVF) care and introduced a core technology that effectively improves IVF success rates.

Joshua Abram, Co-Founder and Co-CEO of TMRW, stated, “Individuals aspiring to become parents need not worry about the safety of their vitrified eggs and embryos. TMRW has collaborated with leading physicians, embryologists, and laboratory directors to create the integrated ivfOS™ platform, which combines innovative RFID technology with the highest standards of cryogenic management to ensure the security of patients’ core reproductive cells—embryos intended for conception.” Meanwhile, Andy Schwab, Managing Partner at 5AM Ventures, the lead investor in this funding round, remarked, “We are highly enthusiastic about TMRW’s prospects. Given the advancements in IVF, which are expected to contribute to a population increase of hundreds of millions, TMRW plays an indispensable role in this context.”

Following the completion of its Series B financing, TMRW has appointed Melanie Goldey as Chief Operating Officer and Chief Financial Officer. With exceptional financial expertise, Ms. Goldey is well-positioned to facilitate rapid and effective commercialization and corporate expansion for all stakeholders. The primary objective of this financing round is to support TMRW’s strategic transition from successful clinical research to commercialization, marking a pivotal turning point in the company’s development.

5AM Ventures was founded by John Diekman and Andrew Schwab in 2002, with its headquarters located in California, USA. It is a venture capital firm that provides seed-stage and early-stage investments to its clients. The company’s portfolio includes companies in the biopharmaceutical, life sciences, medical technology, and research instrumentation industries. Since its inception, 5AM has invested in 78 companies and raised approximately $1.5 billion in capital. These include Arvinas, Audentes Therapeutics, Rhythm Pharmaceuticals, Flexion Therapeutics, Hologic, IDEAYA Biosciences, Ikaria (acquired by Mallinckrodt), Marcadia Biotech (acquired by Roche), Novira Therapeutics (acquired by Johnson & Johnson), and Pearl Therapeutics (acquired by AstraZeneca).

Special Situations Life Sciences Innovation Fund is an investment fund. It focuses on seed and early-stage investments in companies specializing in reproductive medicine and assisted reproductive technologies.

(Compiled by: Wang Jingna)