Type Private | Founded 2007 | |
Industry Science
Online marketplace Founders Kevin Lustig, Chris Petersen, Andrew Martin Headquarters Solana Beach, California, United States Key people Kevin Lustig (Founder & CEO)
Chris Petersen (Founder & CIO)
Daniel Kagan (COO) | ||
Scientist.com (formerly known as Assay Depot) is a network of public and private e-commerce marketplaces that connect buyers and sellers of scientific research services. The company was founded in 2007 by Kevin Lustig, Chris Petersen and Andrew Martin and launched its first public research marketplace in September 2008.
Contents
History
Research marketplaces make it possible for scientists to use contract research organizations (CROs) to outsource an entire pharmaceutical drug discovery project without requiring physical access to a laboratory. In 2011 and 2012, Scientist.com launched outsourcing marketplaces for the large pharmaceutical companies Pfizer and AstraZeneca, respectively. In 2013, the company launched a private academic marketplace for the National Cancer Institute. By June 2016, when the company rebranded as Scientist.com, it operated private research marketplaces for 10 pharmaceutical companies and the US National Institutes of Health. The company has been referred to as the “Amazon.com for medical research,” “A Home Depot for science and medicine” and the “EBay for drug discovery services." The marketplace was featured in a 2012 TEDMED talk given by then-Stanford University professor Atul Butte.
Awards
In 2013, Lustig was named “San Diego’s Most Admired CEO” by the San Diego Business Journal, and that same year he was one of five national finalists for Entrepreneur magazine’s Emerging Entrepreneur of the Year Award. Lustig was twice recognized as one of the life science industry’s “100 Most Inspiring People” by PharmaVoice magazine in 2012 and 2013. In 2013, Petersen received the CIO 100 Award, and in 2014, he was named one of “San Diego’s Top Tech Execs” by the San Diego Business Journal. The company also won the San Diego Business Journal’s 2014 Innovation Award. In 2015, the company was named one of Entrepreneur magazine’s Best Entrepreneurial Companies in America.
Business model
Scientist.com is a procure-to-pay B2B e-commerce marketplace. Research customers use the marketplace to design, purchase and pay for custom research services and products. Research suppliers, or contract research organizations (CROs), use the marketplace to communicate with customers, submit quotes, receive orders and submit invoices. Scientist.com receives a transaction fee on all marketplace purchases.
Rare Disease Challenges
In 2013, Scientist.com partnered with the Rare Genomics Institute to create and run a science challenge called Be HEARD (Helping Empower and Accelerate Research Discoveries). Half a million dollars worth of scientific services, ranging in value from $2,500 to $75,000, were awarded to 26 rare disease researchers. In 2015, the Be HEARD science challenge resulted in over $600,000 in awards to 31 rare disease research programs.
Open Science Challenges
In 2012, Scientist.com partnered with Biocurious in the Bay Area and Genspace in New York to run open science challenges for citizen and young scientists.
Investors
The company raised $1.8M in October 2007 from family and friends. In June 2011, the company raised $1.7M from Hollywood producer Jack Giarraputo and friends. In March 2014 the company raised $3.4M in a financing led by Jean Balgrosky of Bootstrap Ventures.