Remedy Informatics said this week that the Merck Global Health Innovation Fund, the investment arm of pharmaceutical giant Merck, has invested about $6 million in growth capital in the company.
The investment gives Merck a seat on Remedy’s board of directors and the opportunity for additional investments in the future, Remedy said.
The capital from Merck “will fuel our growth here in the US and our expansion into Europe and Latin America," Gary Kennedy, Remedy’s founder and CEO, said in a statement.
The investment will also support further development of Remedy’s Mosaic informatics platform. Mosaic includes tools like Investigate, a research management system that provides tools to integrate data flows and analytics across labs, clinics, and biobanks; ComprehensiveOncology, a suite of solid tumor and blood cancer registries; Comprehensive BMT, a blood and marrow transplant registry; and RemedyJoint, a total joint replacement registry.
Remedy's current customers include Cleveland Clinic’s Heart and Vascular Institute, Massachusetts General Hospital, Baylor Health Care System, Princess Margaret Cancer Centre, Indiana University, and Genentech.