On July 29, 2020 Sema4, a patient-centered health intelligence company, reported that funds managed by BlackRock led its oversubscribed Series C financing of $121 million at a post-money valuation of over $1 billion (Press release, Sema4, JUL 29, 2020, View Source [SID1234562521]). Additional new investors include Deerfield Management Company and Moore Strategic Ventures. Sema4’s Series C financing comes after achieving significant milestones following its first round of external financing (Series B) in which the company raised just over $120 million less than 12 months ago. Each of the investors from Sema4’s first round of external funding participated in this second round, including Blackstone, Section 32, Oak HC/FT, Decheng, and Connecticut Innovations. Sema4 was spun out of the Mount Sinai Health System in June 2017.
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As part of this announcement, Andrew Elbardissi, MD Partner at Deerfield, has joined Sema4’s board of directors. Sema4 has also recently added Mike Pellini, MD from Section32 (former CEO of Foundation Medicine), Rachel Sherman (former Principal Deputy Commissioner at the FDA), and Marty Chavez (former CFO of Goldman Sachs) to its board.
William Abecassis, Head of Innovation Capital at BlackRock, said: "Sema4 is a leader at the forefront of one of the most exciting intersections in healthcare – the application of technology, AI and machine learning to help improve patient outcomes. We are excited to support this talented management team as Sema4 begins its next phase of growth."
Andrew Elbardissi, MD Partner at Deerfield, commented: "Among their peer-group companies, Sema4 rises above the rest with its incredible team of innovators, relentless pursuit of better technology, and bone-deep commitment to reimagining what’s possible in healthcare. I am delighted to help them move forward on this path."
"This investment is exciting for the significant financial resources it provides Sema4 for our continued rapid growth and accelerated investment, and also for the world-renowned partners it brings to our team," said Eric Schadt, PhD, Founder and Chief Executive Officer of Sema4. "I look forward to working with our new and existing investors — who collectively have deep expertise in the life and data sciences — as we create cutting-edge precision medicine solutions for providers and patients to dramatically improve health outcomes."
Sema4 is dedicated to transforming healthcare by building dynamic models of human health and defining optimal, individualized health trajectories. The company began with an emphasis on reproductive health and recently launched Sema4 Signal, a family of products and services providing data-driven precision oncology solutions. Over the last several months, Sema4 has also joined the fight against COVID-19. Sema4 has integrated its premier clinical and scientific expertise with its cutting-edge digital capabilities to deliver a holistic testing program that enables organizations to make fast, informed decisions as they navigate COVID-19.
Sema4’s expertise in data science and predictive modeling serve as the foundation for Centrellis, the company’s innovative health intelligence platform. This powerful platform is designed to provide a more complete understanding of disease and wellness and to offer physicians deeper insight into the patient populations they serve.
Goldman Sachs & Co. LLC acted as exclusive placement agent for the financing, and Fenwick & West LLP acted as legal counsel to Sema4.