PBR Life Sciences, a company focused on enhancing healthcare data access in emerging markets, has raised $1 million in pre-seed funding to address a huge gap in the $281 billion pharmaceutical and life sciences industry across regions like Africa, Asia, and Latin America.
Despite rapid growth in these markets, which are projected to expand at 8-10% annually, compared to 3-5% in developed markets, the lack of real-world healthcare data hinders decision-making in product development, treatment interventions, and healthcare financing.
These regions also have the least amount of big data to support effective commercial planning and clinical research.
Founded by Ayodeji Alaran, a pharmacist trained at the University of Lagos with experience at GSK, Pfizer, and AstraZeneca, PBR Life Sciences pivoted to big data and analytics in 2021 to bridge these critical gaps.
The company now provides fast, reliable access to real-world healthcare data and insights for pharmaceutical firms, health tech startups, consulting firms, multilateral agencies, and research institutions across Africa, Europe, America, and Asia.
PBR Sciences was one of the twelve (12) startups that participated in the second cohort of the ARM Labs Lagos Techstars Accelerator programme.
Its real-world data-as-a-service platforms help its users and clients make data-backed decisions on product pricing, forecasting, new product development, disease and treatment interventions, healthcare financing and company strategy.
Before now, PBR Life Sciences only offered data and insights about the Nigerian healthcare market. It has spent the past two years laying the foundation for its pioneering AI infrastructure powered by its proprietary real-world, anonymized, healthcare data in Africa, whilst consolidating its business model.
The investment, which included investors such as Launch Africa, Microtraction, Kaleo Ventures, Octerra Capital, Marula Square, XA Africa, ARM Labs, and Techstars, will help the company scale its data-as-a-service platforms in Nigeria. It will also aid its expansion into Ghana and Kenya to replicate its already proven business model.
PBR Life Sciences is looking to deepen its offering as a multivariate, multichannel healthcare real-world big data analytics, technology, and consulting provider in Africa and other emerging markets, supporting the life sciences industry.
The company is working to close this gap by being a leading provider of real-world, healthcare big data and analytics in emerging markets by the year 2030.
Speaking of the funding, Ayodeji Alaran, CEO and founder said, “Being backed by some of the most reputable venture capital investors and angels in Africa not only inspires us as a team to do more but further validates the vital need to close the gap of inadequate real-world, healthcare big data that will power AI and innovation for the sector whilst unlocking global life sciences growth that will be powered by the region.”
“This will unlock value for the least understood healthcare and unmet needs in Africa and the rest of emerging markets,” he added. “With this fresh capital, we are now well positioned to achieve our ambitious growth plan, with a laser focus on profitability,” he concluded.
According to Uwem Uwemakpan, head of Investments, at Launch Africa, “PBR’s innovative approach to addressing a critical healthcare challenge in Africa, combined with its strong founding team and substantial market opportunity, establishes it as a key player in enhancing healthcare delivery on the continent. We are excited to be part of this journey.”
Ashim Egunjobi, managing partner at Octerra Capital said: “Since our first interaction with Ayodeji, we have been convinced that PBR Sciences has a tremendous potential to unlock access to health data across Africa. PBR Sciences has developed an impressive proprietary technology and leveraged big data while providing significant insights and value to a large set of corporate clients. We are excited to be part of this investment round and to support Ayodeji and his team on this promising journey.”
Damilare Mesimo at ARM Labs commented: “PBR Life Sciences’ achievement is a testament to the power of innovation and resilience in addressing critical gaps in healthcare data within emerging markets. We are proud to have supported PBR Life Sciences through the ARM Labs Lagos TechStars Accelerator Program, where they demonstrated exceptional vision and execution.
“This milestone reflects their ability to leverage real-world data and AI to transform decision-making in the life sciences sector. At ARM Labs, we remain committed to nurturing startups like PBR that drive impactful solutions, and we are excited to see their continued growth and expansion across Africa and beyond.”
Ato Bentsi-Enchill, investment principal and SPV lead at Microtraction added, “As early-stage investors, our goal is to identify and assess standout founders who we believe have the ability to build category-defining businesses. Ayo fits this bill and has shown remarkable clarity in his vision for the future of PBR in putting together a very capable team to execute on this vision. We’re excited to back PBR on their mission to organize Africa’s healthcare data.”
