#Switzerland #Basel #Lyfegen #TX Ventures #aMoon

Lyfegen Secures Significant Funding to Elevate Global Reach

Lyfegen, a recognized frontrunner in the field of drug rebate management, has recently announced the completion of an additional CHF 5 million in Series A funding. This funding, primarily led by TX Ventures, a notable European fintech investment firm, also saw contributions from aMoon, a venture capital firm focused on global health technology, along with other esteemed institutional investors. This successful funding round marks a pivotal moment in Lyfegen's journey, empowering the firm to intensify its efforts for global expansion and innovation, particularly as it seeks to venture beyond its established operations in Europe.

Addressing the Challenge of Rising Drug Costs

The healthcare sector is grappling with multiple challenges, chiefly the escalating costs of medications and the intricate process of managing a burgeoning number of rebate agreements. For both payers and pharmaceutical companies, reliance on manual processes often results in inefficiencies, compliance concerns, and delays in operations. Lyfegen is revolutionizing this landscape through its fully automated platform that guarantees secure real-time tracking, adherence to compliance regulations, and operational efficiency on a grand scale.

Currently, over 50 pioneering healthcare organizations across eight different markets rely on their solutions to manage more than 4,000 rebate agreements, which encompass tracking upwards of $1 billion in pharmaceutical revenue and overseeing rebates totaling more than $0.5 billion annually. By implementing these solutions, healthcare institutions can refine their pricing strategies, expedite access to innovative treatments, and navigate the complexities associated with rebates more effectively.

Expanding the Capabilities of Rebate Management

The platform offered by Lyfegen is already making waves among healthcare payers and pharmaceutical entities located in Europe, North America, and the Middle East, and is now poised for a larger global rollout. By automating rebate management, healthcare organizations can streamline convoluted agreements, save significant time, reduce inaccuracies, and enhance their overall financial performance.

Girisha Fernando, Lyfegen’s CEO, emphasized, “The market for personalized and innovative treatments is witnessing rapid expansion, but this comes with increasingly complex and costly pricing structures. Lyfegen's automated solution demystifies this complexity, empowering payers and pharmaceutical firms to harness the full potential of rebates while improving patient access to modern treatments. With this funding and our new partners, we are strategically positioned to propel our growth and make a substantial global impact.”

In the same vein, Jens Schleuniger, a Partner at TX Ventures, stated, “Lyfegen stands at the leading edge of innovation, providing payers and pharmaceutical companies with a powerful tool to mitigate the rising complexities of pharmaceutical rebates. We are proud to spearhead this funding round and support Lyfegen in their mission to bring enhanced efficiency and cost savings to healthcare systems all over the globe.”

About Lyfegen

Founded in 2018, Lyfegen is an independent provider of rebate management software tailored for the healthcare sector. Its solutions are utilized globally by health insurances, governments, hospitals, and pharmaceutical companies, significantly alleviating the administrative burden associated with managing intricate drug pricing contracts. Lyfegen boasts the world's largest digital database of innovative drug pricing models and public agreements, along with a comprehensive drug pricing simulator to dynamically evaluate complex pricing scenarios. Headquartered in Basel, Switzerland, Lyfegen operates across Europe, North America, and the Middle East, striving to enhance the value derived from drug pricing agreements.

For additional insights regarding Lyfegen’s solutions or to arrange interviews, visit Lyfegen.com.