Press release

Brex Launches Partnership With BIO

Sponsored by Businesswire

Brex, the financial technology company that helps ambitious companies scale, today announced a partnership with the Biotechnology Innovation Organization (BIO), the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers, and related organizations across the US and in more than 30 other nations. This is the largest and most impressive partnership for Brex’s life sciences product since its launch in June 2019.

“We have seen excellent traction in our new life sciences offering,” said Henrique Dubugras, co-founder and co-CEO of Brex. “In particular, life sciences industry participants have been excited about a charge card product that recognizes the unique needs of this highly passionate segment of entrepreneurs. Organizations like BIO offer them real value, and we are proud to embark on this partnership.”

In connection with its first payments product, Brex has partnered with many incubators and accelerators across the United States to deliver its unique technology, expense management, underwriting, and rewards to modern businesses. BIO, which provides policy, advocacy, and financial resources to its members, joins the list of prestigious innovation-accelerating organizations working with Brex.

“Brex is a value add for the life sciences industry and has meaningfully streamlined our business and financial operations. It is an excellent idea for an organization like BIO – which advocates for the wellbeing of biotech companies – to partner with Brex,” said Mark Kline, co-founder & CTO of X-Therma, a CLSA Member, Buzz of BIO winner 2019, and Brex customer.

As part of the partnership, members of both BIO and State Affiliates will enjoy waived card fees and 60,000 bonus points when they sign up for Brex.

“We’re thrilled to partner with an organization like Brex,” said James Greenwood, President and CEO of BIO. “Brex’s products and services are extremely well aligned with our mission to remove business, financial and operational obstacles so that emerging life sciences companies can transform the scientific discoveries of today into the breakthrough healthcare products of tomorrow. We are pleased to be able to offer this valuable benefit to our members through the BIO Business Solutions® program.”

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About Brex

Brex is transforming B2B payments by creating corporate cards, rewards, and travel programs that are tailored to specific industries. In 2018 Brex launched the first corporate card and rewards program specifically designed for startups. By rebuilding the credit card tech stack from the ground up, Brex is able to reimagine every aspect of corporate cards, including underwriting, transparency, and approvals, to create a radically better experience for customers. Brex is backed by Y Combinator Continuity, Peter Thiel, Max Levchin, and more, and has raised $315M in equity and $100M in debt capital. The company’s headquarters are in San Francisco with an additional office in the Salt Lake Valley.

About BIO

BIO is the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also operates the largest cost-savings program for the life sciences industry – BIO Business Solutions®. More than 4,000 companies nationwide saved over $430 Million in 2018.