Demonstrates Union Square Advisors’ extensive platform in providing comprehensive advisory services to leading companies in the Pharma Technology and Life Sciences sectors
On October 2, 2024, Union Square Advisors announced that it served as exclusive financial advisor to Science Exchange, a pioneer of supplier orchestration software for life sciences, in its acquisition by Waud Capital Partners, a leading mid-market private equity firm specializing in growth-oriented investments in technology and life sciences sectors.
Waud Capital’s strategic acquisition comes after a thorough evaluation of the life sciences procurement technology market, during which Science Exchange separated itself as a standout leader. The company is distinguished by its innovative, modern cloud supplier orchestration platform, delivered through a transparent SaaS subscription model, which digitizes procurement workflows including initial supplier and product discovery, contracting and compliance management, RFP management, purchase and change orders, internal approvals, spend and pricing intelligence, and invoicing and payment. The solution has rapidly gained traction among the scientists and procurement teams of top global pharmaceutical companies and biotech organizations as it drives substantial cost savings, streamlines supplier collaboration, and accelerates project execution.
Under Waud Capital’s ownership, Science Exchange plans to expand its product portfolio, invest in innovative technologies, and elevate its market presence to reinforce its standing as the premier supplier orchestration platform in the life sciences sector. Elizabeth Iorns, Ph.D CEO & Co-Founder, along with Dan Knox COO & Co-Founder, and Tzlil Hadass Chief Revenue Officer, will retain their leadership roles, ensuring continuity for customers and stakeholders. Mark Layden, Operating Partner at Waud Capital will join the company as Executive Chairman.
“With Waud Capital’s support, we are poised to further solidify our position as the premier supplier orchestration platform in the life sciences industry,” said Elizabeth Iorns, Ph.D., CEO & Co-Founder of Science Exchange. “Our platform has already transformed how life sciences companies work with their suppliers, and this partnership will enable us to accelerate our product innovation, drive even faster growth, and expand our impact across the industry. Waud’s proven track record in scaling technology companies, combined with their deep expertise in healthcare and life sciences, make them the ideal partner to help us unlock the next phase of Science Exchange’s evolution. I am excited to work closely with the Waud team to broaden our offerings, deliver unparalleled value to our customers, and ultimately, help bring therapeutics to market more efficiently and effectively.”
“The Science Exchange platform, network and story is remarkable, and we are honored to have advised Elizabeth, Dan, and the entire stakeholder group on the transaction. We are confident that Waud will be a great partner for the company during its next phase of growth and innovation,” said Carter McClelland, Chairman at Union Square Advisors.
For more information, read the full press release here.
