Alchemy raises $31 million to close the HIV pharmacy gap

By the numbers: Approximately 37,000 Americans each year are diagnosed with HIV, the vast majority of which are men.

• Over half the diagnoses are in the South (52%) and among those aged 13-34 (56%). Around 38% of patients are Black, while another 32% is Hispanic or Latino.

Zoom in: Other investors on the Alchemy round included Magic Johnson, Sandberg Bernthal Venture Partners, Banc of California, Twine Ventures, Springbank, and AlleyCorp.

• The company's co-founders previously were with Truepill, a digital pharmacy startup that sold for $525 million.

What they're saying: "Having spent over a decade in Africa building the largest HIV access program in the world, I was shocked to learn that HIV medication adherence rates in Africa are better than they are here in the U.S. I'm convinced that the number one barrier ... is the friction that exists in navigating the U.S. pharmacy system." — Peter Park, Alchemy co-founder and CEO