SmartGateVC invests in Modicus Prime, process & quality control for biotech
We are excited to announce our investment in Modicus Prime that builds first-in-class self-service data processing software based on AI to enable effortless, cost-efficient and timely process control for biotech research and manufacturing. Modicus Prime is solving AI/ML challenges in the life sciences for commercial real-time decision making, patient and product characterization, and anomaly detection through client-driven AI software tools. Their Self-Service AI software places cutting-edge AI where it belongs: in the hands of Life Sciences domain experts themselves. The result is real-time AI processing of any data - from biologic morphology analysis to commercial contamination detection - without the requirement of data scientists.
Currently tapping into the Global AI market in Pharma, which is projected to reach $5B+ with a steady annual growth of 40-60% through 2025, Modicus Prime is partnering with top industry players in AI Self-Service process control, further expanding into adjacent functional areas, and revolutionizing image processing for Biopharma industries.
The company is currently part of Armenia Startup Academy Traction program. The founders are collaborating / in conversations with a number of top 10 Pharma companies, and are in the process of establishing their R&D capacities in Armenia.
Taylor Chartier, Founder and CEO of Modicus Prime, mentioned, “Our Self-Service tools augment biotech end users’ domain expertise with AI capabilities while working in tandem with their daily routines. We are pleased to be developing such technology alongside scientists in Big Pharma to directly address the unmet needs of pharmaceutical research, product development and commercial manufacturing. SmartGateVC’s invaluable network and resources are fueling our expansion into the greater biotech community.”
“Modicus is bringing the era of predictable manufacturing for biotech,” says Vazgen Hakobjanyan, Partner at SmartGateVC.
“While our firm increases its exposure to AI-enabled healthcare and biotech, Modicus Prime will become one of the cornerstones in the direction alongside other our portfolio companies. We are excited for the journey ahead with Taylor and the team for bringing AI to boost efficiency and safety for pharma companies,“ says Ashot Arzumanyan, Partner at SmartGateVC.
Hambardzum Kaghketsyan, Partner at SmartGateVC, added “Kudos to Taylor and the team for pushing the edge and inspiring the next generation of entrepreneurs”.
Jack Topdjian, Founder and Managing Director at Healthcare Equity Angels, joined the round as an angel investor. Jack has been a practice leader in Healthcare and Technology at McKinsey and PwC with a focus on strategy, digital capability building and innovation in healthcare. His extensive industry experience spans from entrepreneurship, private equity to high tech and consulting. He mentioned, “Drug manufacturing safety is an area that we hear of when it hits headlines. With Modicus, we are applying AI to move the process from a sampling error-prone process to that of errorless total quality control ”.
SmartGateVC is thrilled to welcome Taylor and the team to its family of portfolio companies!
About SmartGateVC
SmartGateVC is a California and Armenia-based pre-seed venture capital fund backed by Tim Draper and seasoned tech investors, entrepreneurs and professionals. Our key focus areas are Artificial Intelligence (AI) infrastructure, AI-enabled SaaS, IoT, and Biotech across California, Massachusetts, NYC, Armenia, and wider Eastern Europe.
