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CST: 23/05/2019 22:34:57   

CherryCircle Software Raises $2.3M to Advance QbDVision™ for Pharmaceutical Industry

113 Days ago

AUSTIN, Texas, Jan. 30, 2019 (GLOBE NEWSWIRE) -- CherryCircle Software, a company developing novel solutions for pharmaceutical process development, announced the closing of a $2.3 million Seed financing round. The round included participation from ATX Seed Ventures, PLH Business Ventures, Hudson Park Capital, and several industry veterans.

Started in 2016, CherryCircle is modernizing the way the pharmaceutical industry manages the development of manufacturing processes for its products. Combining years of industry experience, an expert advisory board, and the latest software innovations, Yash Sabharwal and Ryan Shillington are out to change the status quo.

“Our industry has fallen victim to a mindset where documents and compliance are equated with product quality,” said Sabharwal, President & CEO. “We have to focus again on connecting the dots from patient to product to process with strong scientific rationale and data-driven development. Modern drug manufacturing is becoming increasingly more complex, especially with the emergence of new cell and gene therapies. Novel data management and visualization tools are required to collect and interpret data from multiple sources. Today’s approaches cobbling together various Microsoft Office solutions are not going to get us there. Our software lets you capture development knowledge over time and manage risk in multiple dimensions with data, not documents, driving development decisions.”

Core to the company’s vision is the use of serverless technologies and automated testing tools to allow rapid development and deployment of secure, validated software solutions enabling process and data management under a quality-by-design (QbD) framework with strong data integrity.

“The founding team’s experience and domain expertise were what initially got us excited,” said Chris Shonk, General Partner at ATX Seed Ventures. “After we dug in, the initial customer responses to QbDVision became impossible to ignore. We see the company’s potential for a massive market impact on the pharmaceutical and drug development markets. We are thrilled to bring our insight, efficiency, and financial resources in support of this innovative team and enterprise.”

In September of 2018, CherryCircle released its Americana version of QbDVision to the market. QbDVision is a first of its kind, cloud-based software solution for managing pharmaceutical process development aligned with ISPE’s Pharma 4.0 initiatives. Since launch, CherryCircle has seen the immediate adoption of the QbDVision solution and is ramping up sales and marketing activities to grow its customer base. The company will use the proceeds from this round to fund new hires, expand its platform, and scale its customer operations.

About CherryCircle Software, Inc.
CherryCircle Software, Inc. builds cloud-based software solutions to manage the development of complex manufacturing processes in regulated industries. Its flagship product, QbDVision, focuses on the pharmaceutical industry providing simple, but powerful, tools using quality-by-design principles to assist the pharmaceutical industry with complex manufacturing challenges. This approach reduces development time and the risk of systemic failure later in the development lifecycle. Started in 2016 by pharmaceutical manufacturing and quality experts, CherryCircle is headquartered in Austin, Texas, and is an active member of the International Society for Pharmaceutical Engineering (ISPE). For more information, visit www.cherrycirclesoftware.com.

CherryCircle Media Contact
Luke Guerrero
SVP Operations
luke@cherrycirclesoftware.com

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/1e92b1b1-7ced-477d-810c-f2155473046f

http://www.globenewswire.com/NewsRoom/AttachmentNg/15eb63de-5275-4632-9044-fd8a2e7cc821

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