TMRW Life Sciences Secures Over $12 Million in Series A Funding to Advance IVF Automation Platform

On May 30, 2019, VCBeat (WeChat official account: vcbeat) learned that TMRW had completed a $12 million Series A financing round. The company will use the funds to improve in vitro fertilization technology and further expand its board of directors and leadership team. The round was led by Special Situations Life Sciences Innovation Fund, with participation from investor Glenn Dubin and other private investors.

As part of the financing, Dr. David Sable, Managing Director at Special Situations, will join TMRW’s Scientific Advisory Board. TMRW has also appointed Dr. Andrew Brooks as Chairman of its Scientific Advisory Board, and Tara Comonte and Robbie Myers as members of the Company’s Board of Directors.

Dr. Andrew Brooks is currently the Chief Operating Officer of RUCDR Infinite Biologics at Rutgers University, the world’s largest academic biorepository. Comonte is currently the Chief Financial Officer of Shake Shack (NYSE: SHAK). Myers served as Editor-in-Chief of ELLE, the world’s leading fashion magazine, for 18 years, leading the brand to unprecedented success and growth.

TMRW Life Sciences was founded in 2018 by Joshua Abram, Alan Murray, and Dr. Jeff Port. The company has developed a mechanically automated platform for the in vitro fertilization (IVF) process, providing a complete RFID-enabled, cryogenic-compatible digital chain of custody for reproductive cells (eggs and embryos). It conducts 17,000 environmental health checks daily to ensure the safety of these reproductive cells.

The TMRW platform has been widely accepted in the U.S. market and is poised to become the global standard. Currently, TMRW’s partners account for 20% of all fertility clinics in the United States. TMRW is capturing a significant share of the U.S. in vitro fertilization (IVF) market as IVF clinicians adopt the TMRW platform to replace outdated analog IVF cryomanagement systems.

Joshua Abram of TMRW stated, “Fertility specialists agree that by the end of this century, more than 200 million people will have been born through IVF technology. TMRW is committed to advancing the development and progress of IVF technology to meet the needs of clinicians. This funding will be used to enhance our technology, further expand our board of directors and leadership team, and promote our technology globally.”

Dr. Sable of Special Situations stated, “Our life sciences company holds a leading advantage in assisted reproductive technology. With its advanced technology, TMRW makes in vitro fertilization (IVF) safer, more convenient, and more cost-effective. There is substantial demand for this technology both in the United States and globally.”

Special Situations Life Sciences Innovation Fund is a life sciences innovation fund focused on seed and early-stage investments in companies specializing in reproductive medicine and assisted reproductive technologies.

(Compiled by Song Chenchen)