Meet Venture Leader Peter Nestorov’s AI Single-Cell Data Driven Startup

02.05.2019 15:00, Guillaume Tinsel

Ten Venture Leaders will represent Switzerland in Boston in June. Meet Peter Nestorov, CEO of Scailyte. Learn more about his artificial intelligence (AI) technology for biomedical research, pharmaceutical discovery and precision diagnostics that helps save lives and Peter's expectations on his roadshow in Boston.

Can you introduce yourself, how your company started and what your project is?

I studied Biochemistry in Tübingen, Germany and obtained a PhD in Genetics, with a focus on biomedical research and genomics, from the University of Basel, Switzerland. Following my PhD, I took a sales role in a company distributing single-cell instruments, a new andemerging type of devices producing rich data-sets by measuring hundreds of parameters from millions of individual cells. This high-dimensional data holds the key to understanding the mechanisms of complex diseases such as cancer and immune disorders, and ultimately to the discovery of biomarkers for detecting these diseases at an early and manageable stage. However, during my daily interactions with customers in clinics and industry, I realized that scientists are overwhelmed with the volume and complexity of single-cell data, and consequently, only a fraction of this insightful resource is utilized and translated into clinically-relevant knowledge and applications. Being astonished by the clinical and commercial potential of single-cell data, I captured the opportunity and set up a company together with co-founders Prof. M Claassen (ETH Zurich), D. Sonnleithner, PhD (Engineer and IT Project Manager) and D. Goehlsdorf, PhD (Soft. engineer and ex Googler). Today, as a CEO of Scailyte, I am guiding the company towards its mission by building relationships with partners and customers and by inspiring the team to deliver a data-driven solution that will save millions of lives.

What attracted you to Boston as a business development destination?

With almost 1000 biotechnology companies, ranging from early startups to multi-billion pharmaceutical companies, and top research institutes and universities, the Greater Boston area is one of the world's life science epicenters. Countless major scientific breakthroughs were born in the area, and it is simply the place to be for anyone connected to biotech. In addition, several of the KOLs in the single-cell technology field are located here, making it an even better destination for Scailyte.

What do you hope to achieve from the trip? What are your expectations and goals?
We are thrilled to be part of the Venture Leaders Life Science program, and we would like to achieve several goals. Firstly, present our AI-based software for single-cell data analysis to researchers from the Boston area (academia and pharma) - get first users from the US. Secondly, engage with potential investors for our Series A round, and fianlly expand my network, improve my business skills, and establish long-lasting relationships with the Venture Leaders.

Why is Venture Leaders Life Science beneficial for your startup?

Having the incredible opportunity to participate in the Venture Leaders Life Science program, will allow Scailyte to increase its exposure in the world's leading biotech hub. We will be able to further accelerate the integration of the US in our growth strategy, as well as increase our network in the region, while proudly representing Switzerland as a leading country for innovation.



What is pushing you towards international expansion?

Our growth objectives are ambitious. We are aiming at doubling our revenues every year and becoming the world’s leader in the single-cell data analysis market. To achieve this, we have to expand internationally and grow in the target markets. Currently, we have Sales team members present in France, Switzerland, Sweden, and Germany. Moreover, we are working towards our goals of the Innosuisse Market Entry camp United Kingdom, where we are attending various conferences and connecting with pharmaceutical industry leaders. Finally, we have a part-time team member based in Boston, US, finishing her post-doc at Harvard Medical School, supporting us and introducing us to US-based prospects.

What do you foresee as the largest hurdles towards expansion into the American market?

To be honest, when I think about the American market, I see rather immense opportunities than hurdles. But of course, entering a new market always comes with challenges, and some of the potential ones in the US are cultural and business differences, complicated legal system and initial lack of contacts. Also, our major competitors are based in the US, which is a different game to play as compared to our home European market. Nevertheless, as one of the best NFL coaches in history, Vince Lombardi, used to say: Luck occurs when preparation meets opportunity, and we are going to come prepared.

What makes you most nervous or excited about the trip?

I am definitely excited to be going to the strongest hub of single-cell biology and to be pitching Scailytes’s vision and solution to the top investors and KOLs. It is an incredible opportunity for Scailyte. At the same time, I am a bit nervous about a very tight program, and consequently, about the lack of time to connect with everyone that I would like to. Most likely, I will have to come to Boston again. Exciting times are ahead.

Do you have a “funny/best day” anecdote about being an entrepreneur?

I would say that being an entrepreneur and developing a startup from the ground brings funny moments on a daily basis. I feel it is like going back to kindergarten and having to learn everything from scratch again; then you move on to the school level, eventually, graduate from college, and you barely manage to take a breath and suddenly you hit the market. And the cycle repeats again, it is a never-ending learning process.  But what is great is that just like in school you had your schoolmates you could bond with and learn from, you have fellow entrepreneurs. One such fellow startup is Resistell - we started around the same time and we often meet at the finals of startup competitions - sometimes Scailyte wins, other times it’s Resistell - and now are going to Boston together, taking one big step in our startup journey. I am counting on many fun days in Boston.