We’re changing the game for researchers
Making it easier to find specimens from diverse patient populations and find even the most “difficult” biospecimens now that the world is your biobank.
81%
of researchers limit research due to lack of biospecimens
81%
of researchers limit research due to lack of biospecimens
81%
of researchers limit research due to lack of biospecimens
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Christopher Ianelli, MD, PhD
Founder and Chief Executive Officer
Christopher Ianelli, MD, PhD
Founder and Chief Executive Officer
Chris conceptualized and founded iSpecimen in response to the precision medicine movement and the growing demand for biospecimens by life science researchers. As CEO, he is responsible for the company’s growth, performance, and corporate direction. Under his leadership, iSpecimen has become a dominant player in research sample procurement, recently developing and launching the industry’s first and only true marketplace platform connecting researchers with healthcare providers and biorepositories.
Prior to launching iSpecimen, Chris served as Managing Director at Leerink Partners (formerly Leerink Swann), a leading healthcare and life science investment bank, where he managed the expansion and delivery of services and directed strategy to develop new healthcare data and information assets for the firm. At Leerink, Chris launched Health Insight Technologies, a healthcare informatics company that was spun out of the firm as Humedica and acquired by UnitedHealth Group in 2013.
Prior to Leerink, Chris was a co-founder and Managing Director of Boston Medical & Scientific Advisors, a healthcare investment research firm ultimately acquired by Leerink. He received both his Ph.D. in Immunology and his M.D. from Tufts University and completed his residency training, including a year as Chief Resident, in Pathology at Brigham & Women’s Hospital and Harvard Medical School.
Andrew Ross
Board Member
In the News
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2019-01-01
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2020-01-01
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2021-01-01
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Info Box
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| Cash | $9,790,732 | $695,909 |
| Accounts receivable - unbilled | 1,750,744 | 652,761 |
| Accounts receivable, net of allowance for doubtful accounts of $141,952 and $108,096 at September 30, 2021 and December 31, 2020, respectively | 2,718,682 | 1,526,392 |
| Inventory | - | - |
| Prepaid expenses and other current assets | 459,321 | 417,929 |
| Tax credit receivable, current portion | 179,376 | 179,376 |
| Total current assets | 14,898,855 | 3,472,367 |
| Property and equipment, net | 44,749 | 75,589 |
| Internally developed software, net | 2,650,867 | 2,634,139 |
| Tax credit receivable, net of current portion | - | - |
| Security deposits | 27,601 | 27,601 |
| Total assets | $17,622,072 | $6,209,696 |
| Current liabilities | ||
| Accounts payable | $351,424 | $1,792,432 |
| Accrued expenses | 1,025,136 | 810,910 |
| Accrued interest | 7,510 | 3,696,944 |
| Convertible notes payable, related parties, net of unamortized debt discount and debt issuance costs | - | 5,490,811 |
| Derivative liability for embedded conversion features on convertible notes payable | - | 2,373,000 |
| Bridge notes payable, net of debt issuance costs | - | 4,589,228 |
| Bridge notes payable, related parties | - | 1,905,000 |
| Note payable, current portion | - | 604,109 |
| Deferred revenue | 718,723 | 873,254 |
| Total current liabilities | 2,102,793 | 22,135,688 |
| Note payable, net of current portion | - | 178,899 |
| Term loan | 3,428,380 | - |
| Total liabilities | 5,531,173 | 22,314,587 |
| Commitments and contingencies | ||
| Series B convertible preferred stock, $0.0001 par value, 3,200,000 shares authorized, 0 and 572,465 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively | - | 7,999,997 |
| Series A-1 convertible preferred stock, $0.0001 par value, 556,550 shares authorized, 0 and 100,365 issued and outstanding at September 30, 2021 and December 31, 2020, respectively | - | 561,041 |
| Series A convertible preferred stock, $0.0001 par value, 3,427,871 shares authorized, 0 and 618,182 issued and outstanding at September 30, 2021 and December 31, 2020, respectively | - | 2,612,038 |
| Total convertible preferred stock | - | 11,173,076 |
| Stockholders' equity (deficit) | ||
| Common stock, $0.0001 par value, 200,000,000 shares authorized, 6,996,758 issued, and 6,965,758 outstanding at September 30, 2021, and 16,000,000 shares authorized, 967,213 issued and 936,213 outstanding at December 31, 2020 | 697 | 94 |
| Additional paid-in capital | 48,059,389 | 1,779,698 |
| Treasury stock, 31,000 shares at September 30, 2021 and December 31, 2020, at cost | (172) | (172) |
| Accumulated deficit | (35,969,015) | (29,057,587) |
| Total stockholders' equity (deficit) | 12,090,899 | (27,277,967) |
| Total liabilities, convertible preferred stock and stockholders' equity (deficit) | $17,622,072 | $6,209,696 |
| 2021 | 2020 | 2021 | 2020 | |
| Revenue | $2,718,534 | $2,250,147 | $8,586,217 | $5,466,375 |
| Operating expenses: | ||||
| Cost of revenue | 913,833 | 903,862 | 4,026,680 | 2,032,111 |
| Technology | 543,581 | 413,381 | 1,315,331 | 1,131,695 |
| Sales and marketing | 513,107 | 506,641 | 1,690,085 | 1,305,897 |
| Supply development | 171,595 | 133,007 | 383,864 | 395,200 |
| Fulfillment | 399,145 | 241,785 | 955,516 | 642,140 |
| General and administrative | 1,636,346 | 774,550 | 4,144,989 | 1,431,262 |
| Total operating expenses | 4,177,607 | 2,973,226 | 12,516,465 | 6,938,305 |
| Loss from operations | (1,459,073) | (723,079) | (3,930,248) | (1,471,930) |
| Other expense, net Interest expense | (75,922) | (469,477) | (2,062,548) | (1,517,697) |
| Change in fair value of derivative liability on convertible notes | – | (54,000) | (271,000) | (76,000) |
| Change in fair value of derivative liability on bridge notes and bridge notes, related parties | – | – | 1,582,700 | – |
| Gain (loss) on extinguishment of bridge notes and bridge notes, related parties | – | – | (2,740,425) | – |
| Loss on extinguishment of convertible notes and convertible notes, related parties | – | – | (260,185) | – |
| Gain on extinguishment of note payable | – | – | 788,156 | – |
| Other expense, net | (21,687) | – | (21,756) | 6,691 |
| Interest income | 3,659 | 87 | 3,878 | 396 |
| Other expense, net | (93,950) | (523,390) | (2,981,180) | (1,586,610) |
| Income (loss) before benefit from income taxes | (1,553,023) | (1,246,469) | (6,911,428) | (3,058,540) |
| Benefit from income taxes | – | – | – | – |
| Net income (loss) | $ (1,553,023) | $(1,246,469) | $(6,911,428) | $(3,058,540) |
| Net income (loss) per share | ||||
| Basic and diluted | $(0.22) | $(1.33) | $(2.17) | $(3.27) |
| Weighted average common shares outstanding | ||||
| Basic and diluted | 6,960,330 | 936,213 | 3,190,060 | 936,213 |
| Company | Contact | Country |
|---|---|---|
| Alfreds Futterkiste | Maria Anders | Germany |
| Centro comercial Moctezuma | Francisco Chang | Mexico |
| Ernst Handel | Roland Mendel | Austria |
| Island Trading | Helen Bennett | UK |
| Laughing Bacchus Winecellars | Yoshi Tannamuri | Canada |
| Magazzini Alimentari Riuniti | Giovanni Rovelli | Italy |
