Announcing Acquisition of Tetra Lab Monitoring Business by Elemental Machines
As a follow-up to my blog post of earlier this year about future plans of the Tetra Lab Monitoring business (Announcing our Series B: Tetra 1.0 and 2.0:The Noise and the Signal), I’m pleased to share an update with you. Elemental Machines, a manufacturer of universal laboratory asset management technology for research, clinical, and testing labs around the world, on Tuesday announced its successful acquisition of the Tetra Lab Monitoring business from us (see their release).
Our goal from the beginning of TetraScience was to leverage the power of the cloud and IoT to benefit the life sciences industry, and both TetraScience and Elemental saw the opportunity to advance that purpose via this acquisition. While many biopharma companies are revolutionizing their operations through lab monitoring with IoT technology — and TetraScience maintains our capability to connect to simple lab equipment (e.g balances and pH meters ) to extract experimental data via IoT technology — we believe that our efforts at TetraScience are best focused on the pain felt at the data layer rather than on IoT connectivity and monitoring.
Most labs are still dependent on 20th century on-prem software stacks, leading to experimental data silos, limited collaboration, stifled innovation, and sub-optimized discovery. In the absence of large-scale and clean data sets, a centralized, cloud-native, and data-centric architecture, and well-designed experimental data taxonomies and ontologies, the ability to really capitalize on advanced data science and AI/ML capabilities is greatly hindered. To solve the data problem, we’ve focused on being the “Switzerland” of experimental data, where our single driving goal is to maximize the value of our customers' analytical data.
A core pillar, differentiator, and competitive advantage of the Tetra R&D Data Cloud is the unequivocal commitment to platform and network openness — i.e., we have no agenda other than replatforming and reengineering the industry’s analytical data in order to accelerate and improve scientific outcomes. We aren’t seeking to sell other products to customers, build walled gardens, or exacerbate the existing data silo crisis facing biopharma customers. We are not seeking vendor and/or data lock-in; and we do not sell products which compete with our trusted and valued Tetra Partner Network (TPN) partners like Elemental Machines and other IoT solution providers.
I cannot possibly overstate the importance of this — openness is a precondition to being in the R&D data cloud market, and any customer looking to replatform to the cloud should ensure that prospective vendors are structurally open.
The acquisition of the Tetra Lab Monitoring business by Elemental Machines lets TetraScience focus better on its core mission while also liberating TLM to be a market leader in its niche. This offers a Win/Win for everyone — but most importantly, to our customers, who will see even greater resources available, along with business continuity and access to continued innovation by both Elemental Machines and TetraScience in our R&D Data Cloud.