Cromatic Launches AI-Powered 'Sourcerer' for Streamlined R&D Outsourcing in Life Sciences

Cromatic, a startup focused on life sciences research outsourcing, has introduced an AI-powered tool named Sourcerer. This tool is designed to allow users to efficiently identify relevant contract research organizations (CROs) through a cloud-based global database curated by Cromatic.

The Sourcerer tool offers a unique matchmaker service enabling users to either search the database under specific topics or input their requests for proposals (RFPs). Based on the RFPs, Sourcerer generates a list of pertinent vendors, who can then be contacted directly or engaged through Cromatic's 'white glove' service.

See also: The CRO Industry in Flux: Navigating Technology, Business Models, and Trends in Pharma R&D Outsourcing

Enhanced Database for CROs and CDMOs

Unlike general search engines, Sourcerer focuses on prioritizing vendors that align with the user's specific needs as outlined in their RFPs. The database comprises vendor profiles created using AI tools that gather data from the internet, supported by Cromatic's internal team and information provided directly by CROs. These profiles include details such as company location, size, annual revenue, and a brief description, allowing users to compare providers quickly.

Sourcerer uses AI to parse through extensive RFPs to distill project objectives and criteria, generating a list of necessary skills for vendors. Users can then adjust the list before finalizing their search.

SaaS Model Offering

Cromatic, which raised $5.3 million in a seed round led by AgFunder and LifeX, offers a free version of Sourcerer for basic vendor searches. For more comprehensive features, users can subscribe to monthly or annual SaaS plans, which are more cost-effective compared to hiring consultants.

Cofounder and CEO Dr. Ann Lin points out that the tool is beneficial not only for small and medium-sized pharma or biotech companies but also for larger pharmaceutical companies. These larger companies often face significant costs and time delays when outsourcing projects and identifying suitable CROs. Sourcerer aims to provide up-to-date, quality matches and includes collaboration tools for ongoing engagement with CROs, addressing gaps in existing platforms like scientist.com and scienceexchange.

Topics: HealthTech