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Alchemy has successfully raised $31 million in a Seed funding round, led by Andreessen Horowitz (a16z). The round also saw participation from notable investors including Magic Johnson, Sheryl Sandberg, and existing backers Twine Ventures, Springbank, and AlleyCorp. This funding will enable Alchemy to enhance its efforts in building modern pharmacy infrastructure aimed at improving access to affordable medications for underserved populations. The company's mission includes empowering small healthcare clinics to manage their own in-house pharmacies, addressing significant disparities in access to life-saving medications across the United States, despite the country spending over $700 billion annually on pharmaceuticals.
Super excited about our new investment in @Alchemy_rx, working to solve key supply-demand mismatches in the pharmaceutical value chain and ultimately better connect the life sciences and healthcare delivery systems. @julesyoo @JayRughani @a16zBioHealth https://t.co/Jn16TPCJXo
How can we ensure that everyone has access to life-saving medications, regardless of where they live? @Alchemy_rx is tackling this challenge by empowering small, underserved healthcare clinics to manage their own in-house pharmacies. Right now, most large hospitals offer… https://t.co/xTF9eQOGS0
We @a16z are thrilled to announce our investment in @Alchemy_rx, as they expand access to life-saving medications for underserved communities. Despite spending over $700B each year on pharmaceuticals in the US, we still face wide disparities in access to essential medicines.… https://t.co/PPvZEVAzPY
