Healthcare startup Alchemy raises $31m to improve access to HIV medications
San Francisco-based startup Alchemy, co-founded by Sid Viswanathan, Susie Crowe, and Peter Park, has secured $31 million in seed funding from Andreessen Horowitz and Magic Johnson to build and manage in-house pharmacies for community clinics, with the aim of increasing access to HIV medications. The company has already established pharmacies in 15 clinics across the US and works with them to access a federal program for lower-cost medications. Viswanathan, who previously founded Truepill, left the company in August 2023 and joined Alchemy in November 2023. The startup has now raised $114 million in a Series B funding round to expand its pharmacies to 20 states, add a mobile clinic program and digital tools, and eventually set up 1,000 pharmacies in HIV- and hepatitis-C focused clinics and primary-care locations in underserved communities.
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