Fintech Unicorn Brex Partners with Science Exchange to Offer Incentives for Biotechs

PALO ALTO, Calif.–(BUSINESS WIRE)–Science
Exchange, whose technology platform is used by research
organizations to order and manage outsourced R&D services, announced a
strategic partnership with Brex,
the corporate card built for scaling businesses. Through the
partnership, Science Exchange and Brex can provide their mutual biotech
and pharma clients with streamlined access to payments and innovative
R&D services, thereby accelerating drug discovery research.

Having attained a $2.6B valuation in just over 2 years, Brex has
demonstrated a market need by solving a major challenge for
entrepreneurs — simple, high quality payments products that allow them
access to their credit. This week, Brex launched its corporate credit
card for life sciences, freeing R&D leaders from the personal liability
embedded within existing credit card offerings. The Brex for Life
Science Card provides up to 20x higher credit limits, tailored rewards
(such as points multipliers on lab supplies and conference fees), and
discounts on outsourced R&D services ordered through Science Exchange.

“We are excited to help increase our clients’ buying power by offering
them access to the Brex for Life Science Card,” said Elizabeth Iorns,
PhD, CEO & Co-Founder of Science Exchange. A former cancer researcher,
Dr. Iorns once had to use her own credit card to fund a study and
personally understands the potential impact of the Brex card on
scientific research.

“With Science Exchange, we will continue to explore ways to jointly
serve our clients through integration of new payment technologies,” said
Orion Despo, Head of Growth and GM Life Sciences at Brex. “Combining
Science Exchange’s project tracking capabilities with the Brex
platform’s automated expense management, life science entrepreneurs can
spend less time on audit trails and more time on research.”

About Science Exchange, Inc.

Science Exchange’s technology platform is the fastest, easiest way for
scientists to discover, order, manage and pay for outsourced R&D
services. The secure, online platform connects scientists in
pharmaceuticals, biotechnology, consumer health, and agriscience with
over 2,500 qualified, precontracted research providers. Science Exchange
solves the challenges of outsourced R&D — like provider qualification,
administrative delays, and data security/privacy — by automating
collaborative tasks, such as managing quotes, tracking projects, and
processing payments. For more information, visit www.ScienceExchange.com.
Follow us on Twitter @ScienceExchange or LinkedIn.

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

Chandreyee Das, PhD
Director, Marketing
Science Exchange
[email protected]