Brex Launches First Corporate Card For Life Sciences

Brex Continues Vertical Growth Strategy Bringing Personalized Value
to Biotechnology and Life Sciences Companies

SAN FRANCISCO–(BUSINESS WIRE)–Brex,
the corporate card that accelerates entrepreneurs and scaling
businesses, today unveiled a new corporate card specifically tailored
for companies in the life sciences industry. Announced in a post
to their blog, Brex’s new product includes underwriting, benefits
and rewards uniquely designed to ease the challenges life sciences and
biotechnology companies experience. Unlike any other on the market, the
new Brex for Life Sciences corporate card offers instant online
underwriting that accounts for both grant and venture funding without
requiring personal guarantees from life sciences founders and
entrepreneurs.

“The life sciences industry, in which companies typically have high
funding levels but untraditional and delayed revenue models, needs a
solution that offers spending flexibility and access to payments
networks without requiring a personal guarantee,” said Henrique
Dubugras, co-founder and co-CEO of Brex. “Brex is continuing to take a
tailored product approach to each industry because we understand that
the features and rewards that best fit our existing customers, are not
the same as those that will benefit life sciences companies.”

Since its launch, Brex has broadened its offering beyond startups to
focus on larger tech companies, ecommerce brands and now life sciences.
Having completed extensive research into the industries that most
acutely lack customized payment solutions, Brex recognized the need for
a corporate card in the life sciences space that allows businesses to
maximize both time and money, so they can focus more on research and
development.

In connection with its Life Sciences launch, Brex has partnered with the California
Life Sciences Association (CLSA), the trade association representing
California’s life sciences sector, to offer the new Brex card with
exclusive rewards exclusively to the CLSA membership. “We’re proud to
partner with an organization like Brex that shares our mission of
enabling California’s life sciences innovators. CLSA provides the tools
and resources necessary to help ensure our state’s life sciences sector
can grow and thrive. The CLSA and Brex partnership will enhance
productivity and business efficiency of established and emerging life
sciences companies in California by easing the burden of traditional
credit card underwriting with even greater rewards,” said Mike Guerra,
President & CEO, California Life Sciences Association (CLSA).

Brex for Life Sciences customers will also have access to product
features including transparent statements, expense management systems,
high quality accounting software integrations and targeted rewards with
points multipliers on categories like lab supplies and conferences.
These distinct features have already attracted the attention of life
science companies, including Anthos Therapeutics, Synthego, and QurAlis,
which focus on cures for cardiovascular disease, genome engineering,
transforming bone marrow transplants, and more.

“We signed up for Brex because of its simple value proposition:
instantly available credit, the ability to offer cards to our entire
team and actively monitor spend, its integration with our accounting
platform, and no-fee structure,” said Nik Talreja, VP of Finance and
Operations at Spiral Therapeutics. “Every minute our scientists are
spending on anything but research is more time patients are waiting.”

Get the new Brex for Life Sciences card today at Brex.com/lifesciences.

About Brex

Brex is transforming B2B payments by creating corporate cards, rewards,
and travel programs that are tailored to specific industries. In 2018
Brex launched the first corporate card and rewards program specifically
designed for startups. By rebuilding the credit card tech stack from the
ground up, Brex is able to reimagine every aspect of corporate cards,
including underwriting, transparency and approvals, to create a
radically better experience for customers. Brex is backed by Y
Combinator Continuity, Peter Thiel, Max Levchin and more and has raised
$315M in equity and $100M in debt capital. The company’s headquarters
are in San Francisco.

Contacts

SutherlandGold for Brex
Yalda Rafie
[email protected]