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Scientist.com
Company typePrivate
IndustryScience
Online marketplace
Founded2007
FoundersKevin Lustig, Chris Petersen, Andrew Martin
Headquarters
Solana Beach, California
,
United States
Key people
Kevin Lustig (Founder & CEO)
Chris Petersen (Founder & CIO)
Daniel Kagan (COO)
Number of employees
60 (December 2019)
Websitescientist.com

Scientist.com (formerly known as Assay Depot) is a network of public and private e-commerce marketplaces that connect buyers and sellers of scientific research services.[1][2][3] The company was founded in 2007 by Kevin Lustig, Chris Petersen and Andrew Martin and launched its first public research marketplace in September 2008.[4][5][6][7]

History

Research marketplaces make it possible for scientists to use contract research organizations (CROs) to outsource an entire pharmaceutical drug discovery project without requiring physical access to a laboratory.[8][9][10][11][12] The company has been referred to as the “Amazon.com for medical research,” “A Home Depot for science and medicine” and the “EBay for drug discovery services."[2][7][13][14] In 2011 and 2012, Scientist.com launched outsourcing marketplaces for the large pharmaceutical companies Pfizer and AstraZeneca, respectively.[1][15][16][17][18][19] The marketplace was featured in a 2012 TEDMED talk given by then-Stanford University professor Atul Butte.[14][20] In 2013, the company launched a private academic marketplace for the National Cancer Institute.[21] By June 2016, when the company rebranded as Scientist.com, it operated private research marketplaces for 10 pharmaceutical companies and the US National Institutes of Health.[21][22] In 2017, Scientist.com rolled out a series of new marketplace features to attract more customers, including COMPLI®, a comprehensive process that oversees the sourcing of regulated services for scientific research, such as the legal and ethical acquisition of biological specimens, animal welfare, toxicology studies, secondary real world evidence (RWE), health economics and outcomes research (HEOR), and GxP services.[23][24][25] The company also started a branded YouTube channel in 2017 to highlight company growth and new technologies. By the end of 2017, the company operated private marketplaces for most of the world’s major pharmaceutical companies and entered into a collaboration with VWR International to create an end-to-end research solution.[buzzword][26] In 2018, Scientist.com launched DataSmart®, a platform to ensure data integrity; DataSmart is based on proprietary blockchain technology developed by Scientist.com.[27][28][29] The company also opened an office in Tokyo, Japan in 2018 in order to work more closely with Japanese pharma companies.[30][31] In 2019, Scientist.com unveiled its first original service offering, Trial Insights, a digital reporting solution[buzzword] that aggregates publicly available clinical trials data into usable online dashboards.[32] Later in 2019, Scientist.com launched SciPayTM, a working capital solution[buzzword] for the thousands of registered suppliers on its marketplace.[33]

Awards

In 2013, Lustig was named “San Diego’s Most Admired CEO” by the San Diego Business Journal, and that same year he was one of five national finalists for Entrepreneur magazine’s Emerging Entrepreneur of the Year Award.[34][35] Lustig was twice recognized as one of the life science industry’s “100 Most Inspiring People” by PharmaVoice magazine in 2012 and 2013.[36][37] In 2013, Petersen received the CIO 100 Award, and in 2014, he was named one of “San Diego’s Top Tech Execs” by the San Diego Business Journal.[38] The company also won the San Diego Business Journal’s 2014 Innovation Award.[39] In 2015, 2018, and 2019, the company was named one of Entrepreneur magazine’s Best Entrepreneurial Companies in America.[40][41] From 2017-2019, Scientist.com ranked no. 155, 9, and 289, respectively on Inc. magazine’s list of the 500 Fastest-Growing privately-owned companies in America.[42][43] Scientist.com also made Inc. magazine's list of Best Workplaces of 2018 and 2019.[44] Scientist.com was ranked by San Diego Business Journal as the 2nd Fastest-Growing Private Company in 2018 and the 10th Fastest-Growing Private Company in 2019.[45][46][47] In 2018, Scientist.com won the Excellence in Pharma: Regulatory and Compliance Framework award for its COMPLI® framework.[48][49] COMPLi introduces an appropriate due diligence process and service-specific supply agreement to support access to regulated services.[25] In 2019, CTO and co-founder Chris Petersen was awarded the Cox Business Exemplary Award as part of San Diego’s 2019 “Top Tech Awards.”[50] In 2019, Scientist.com ranked 86th on the Deloitte Technology Fast 500 list of fastest-growing technology companies in North America.[51] Near the end of 2019, Scientist.com's financial solution[buzzword], SciPayTM was Highly Commended in the Technology & Telecoms category at the annual Supply Chain Finance Awards.[52] In 2020, Lustig was named one San Diego's Most Influential People by the San Diego Business Journal.[53]


Award Presented to Presented by Date Notes
100 Most Inspiring People[54][55] Kevin Lustig PharmaVoice magazine 2012
San Diego’s Most Admired CEO[56] Kevin Lustig San Diego Business Journal 2013 Lustig was recognized as an industry innovator for his work on the company that was then called Assay Depot, Inc.
Emerging Entrepreneur of the Year Award Finalist[57] Kevin Lustig Entrepreneur Magazine 2013 He was one of five national finalists
CIO 100 Award [58] Chris Petersen CIO magazine 2013 Petersen's work was recognized along with 100 companies that exemplified the strategic partnership of IT and business
100 Most Inspiring People[59] Kevin Lustig PharmaVoice magazine 2013
“San Diego’s Top Tech Execs”[60] Chris Petersen San Diego Business Journal 2014 Petersen was honored as a leader in information technology
Innovation Award[61] Assay Depot, Inc. San Diego Business Journal 2014 Assay Depot was the Winner of the Marketing category
Entrepreneur 360™ list[62] Assay Depot, Inc. Entrepreneur magazine 2015
500 Fastest-Growing privately-owned companies in America [63] Scientist.com Inc. magazine 2017 Ranked #155
Entrepreneur 360™ list [64] Scientist.com Entrepreneur magazine 2018 Ranked #12
500 Fastest-Growing privately-owned companies in America [65] Scientist.com Inc. magazine 2018 Ranked #9
Best Workplaces of 2018 [66] Scientist.com Inc. magazine 2018 Scientist.com was listed with about 200 other companies as the best places to work based on employees surveys
Fastest-Growing Private Companies[67] Scientist.com San Diego Business Journal 2018 Ranked #2
Excellence in Pharma: Regulatory and Compliance Framework[68] COMPLi® CPhI Worldwide 2018 COMPLi introduces an appropriate due diligence process and service-specific supply agreement to support access to regulated services.
Entrepreneur 360™ list[69] Scientist.com Entrepreneur magazine 2019 Ranked #51
500 Fastest-Growing privately-owned companies in America [70] Scientist.com Inc. magazine 2019 Ranked #289
Best Workplaces of 2019 [71] Scientist.com Inc. magazine 2019
Fastest-Growing Private Companies[72] Scientist.com San Diego Business Journal 2019 Ranked #10
Cox Business Exemplary Award [73] Chris Petersen San Diego’s 2019 “Top Tech Awards” 2019 Petersen was recognized for his outstanding tech leadership
Deloitte Technology Fast 500 list of fastest-growing technology companies[74] Scientist.com Deloitte Technology 2019 Ranked #86
‘Regulatory Procedures and Compliance’ award[75] SciPayTM Supply Chain Finance Awards 2019 The SciPayTM platform created in partnership with Kyriba[76] offers financing solutions[buzzword] to smaller providers on Scientist.com’s network
San Diego's Most Influential People[77] Kevin Lustig San Diego Business Journal 2020 Named on of the 500 most influential people in San Diego
Americas’ fastest-growing companies[78] Scientist.com Financial Times 2020 Ranked #63

Business model

Scientist.com is a procure-to-pay B2B e-commerce marketplace. Research customers use the marketplace to design, purchase and pay for custom research services and products. Research suppliers, or contract research organizations (CROs), use the marketplace to communicate with customers, submit quotes, receive orders and submit invoices.[1][8][79] Scientist.com receives a transaction fee on all marketplace purchases.

Projects

COVID Collaboration Center

In spring of 2020, during the COVID-19 pandemic, Scientist.com created a free online tool caled the Covid Collaboration Center.[80][81][82] Its goal was to empower researchers, protect healthcare workers and help cure this disease.The website connected COVID-19 researchers and promote collaboration, data-sharingand academic and industry partnerships.

Rare Disease Challenges

In 2013, Scientist.com partnered with the Rare Genomics Institute to create and run a science challenge called Be HEARD (Helping Empower and Accelerate Research Discoveries).[9][83][84] Half a million dollars worth of scientific services, ranging in value from $2,500 to $75,000, were awarded to 26 rare disease researchers.[85][86] In 2015, the Be HEARD science challenge resulted in over $600,000 in awards to 31 rare disease research programs.[87] In 2017, Scientist.com partnered with Global Genes to sponsor the “RARE Battle of the Brains,” a Shark Tank-style pitch competition between early-stage innovators from biotech and academia.[88]

Open Science Challenges

In 2012, Scientist.com partnered with BioCurious in the Bay Area and Genspace in New York to run open science challenges for citizen and young scientists.[89][90] In 2018, Scientist.com joined France's Brain and Spine Institute incubator, iPEPS-ICM, to launch a call for early stage biotechs to pitch novel approaches to fighting central nervous systems (CNS) disease.[91]

Investors

The company raised $1.8M in October 2007 from family and friends.[5] In June 2011, the company raised $1.7M from Hollywood producer Jack Giarraputo and friends. In March 2014, the company raised $3.4M in financing led by Jean Balgrosky of Bootstrap Ventures.[92][93] In May 2017, the company raised $24M in an equity financing co-led by Boston-based Leerink Transformation Partners (LTP) and San Francisco and Boston-based 5AM Ventures; new investors included Heritage Provider Network, and existing investors Bootstrap Ventures and Jack Giarraputo also participated.[94][95]

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