Oakland CA, USA, 6th July 2016 / Sciad Newswire / Riffyn, Inc. announces an investment by Siemens Venture Capital to accelerate the launch of its cloud-based research process design software. The investment brings Riffyn’s funding to $4.6M including lead investments from Bioeconomy Capital and O’Reilly Alphatech Ventures (OATV). Riffyn’s product delivers a step-change in the pace and quality of research and development in the life science, chemical and food industries – supporting organizations from early-stage discovery to manufacturing development and pre-clinical trials.
“Riffyn’s design and optimization software for the biopharmaceutical, fine chemical and industrial biotechnology markets provides an extraordinary improvement in the transparency and reliability of R&D efforts, reducing time-to-market and delivering Quality-by-Design,” said Dr. Hartmut Klocker, Vice President Market Development Board Pharma at Siemens. “This design-to-manufacturing approach makes Riffyn a natural partner for Siemens growth in cloud, IoT and R&D products. It perfectly complements our existing strength in manufacturing solutions with ground-breaking R&D design technologies.“
As widely recognized in recent years, science-based research and development is burdened by low experimental reproducibility and barriers to effective collaboration. These issues cost $100B per year globally in wasted research effort and delayed technology commercialization – problems solved by Riffyn’s unprecedented data quality and collaboration capabilities.
“The investment and partnership with Siemens is a major validation of our technology for faster, higher-quality innovation in global R&D organizations,” said Timothy Gardner, Founder and CEO of Riffyn. “We are delighted to team with Siemens to advance our vision.”
Riffyn’s software is currently in private beta release, and will be released for commercial use in August 2016.
About Riffyn
Riffyn’s cloud-based software provides computer-aided process design and advanced data analytics to R&D organizations. Riffyn delivers unprecedented data quality and real-time collaboration capabilities for reproducible discoveries and robust product development. The company was founded in 2014 by veterans from the life science and high-performance computing industries, and is headquartered in Oakland, California. For further information please visit riffyn.com.