The factitious intelligence-powered drug designer Atomwise has raised $123 million in enterprise capital funding, to each scale up its platform and its partnerships with massive biopharma firms, and to start growing its personal pipeline of promising molecules.
The brand new financing builds on the a number of big-ticket discovery collaborations Atomwise has secured up to now yr—a to-do checklist doubtlessly value greater than $5.5 billion in milestone funds, ought to its AI-forged medicine carry out effectively within the clinic and past.
This features a $1 billion cope with the South Korean biotech Bridge Biotherapeutics, a $1.5 billion undertaking with China’s Hansoh Pharma, and an association with Eli Lilly for as much as $550 million, together with as much as $1 million for every early drug lead uncovered by its pc networks.
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Atomwise’s sequence B spherical brings its funding complete as much as almost $175 million, with the most recent financing led by B Capital Group and Sanabil Investments. DCVC, BV, Tencent, Y Combinator, Dolby Household Ventures and AME Cloud Ventures additionally returned to again the corporate.
The proceeds will assist Atomwise carry on new workers and construct up its personal inside portfolio of small molecule drug candidates aimed toward “traditionally undruggable” illness targets, the corporate mentioned.
“The developments Atomwise has made with its computational drug discovery platform have successfully minimize months and even years off of the R&D lifecycle,” mentioned B Capital’s co-founder and managing companion, Raj Ganguly, who joined Atomwise’s board of administrators. “Extra importantly, nonetheless, they’re fixing biology issues beforehand believed to be unsolvable by researchers and delivering that functionality to everybody from lecturers to huge pharma.”
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At present, Atomwise’s AtomNet discovery platform maintains a library of over 16 billion molecules for digital screening. As well as, by means of its tutorial collaborations—together with 285 lively partnerships with college researchers—the corporate has gathered information on illness goal websites, protein lessons and different analysis areas. This contains 15 current tasks aimed toward growing therapies for COVID-19, Atomwise mentioned.