Series B funding propels Genesis Therapeutics into the next phase of AI-driven medical breakthroughs.
Genesis Therapeutics, an artificial intelligence (AI)-focused company in the pharmaceutical sector based in Burlingame, California, has raised US$200 million in a successful Series B funding round. The company, which is known for leveraging AI technologies to develop innovative medicines for individuals grappling with critical diseases, aims to use this funding to advance to clinical stages. This will also assist them in further enhancing their AI platform and diversifying their discovery pipeline.
The latest funding round saw participation from a diverse set of investors. While a U.S.-based life-sciences-focused investor led the round, returning investors like Andreessen Horowitz (a16z) Bio + Health—who led the initial seed financing—also took part. Other notable investors included Fidelity Management & Research Company, NVIDIA’s NVentures, BlackRock, T. Rowe Price Associates, Inc., Rock Springs Capital, Radical Ventures and Menlo Ventures.
Driving AI drug development and expanding patient reach
With this financing, Genesis plans to fast-track their current AI-driven projects into clinical phases. They will also be dedicating resources to their Genesis Exploration of Molecular Space (GEMS) platform, which is known for its advanced AI methods that provide predictive insights and aid in drug discovery. One of their primary objectives is to utilize this platform to target and make advancements against medical conditions that were previously deemed “undruggable”.
The GEMS platform stands out due to its proprietary AI methods, which are geared towards producing unique molecules. This technology can predict various drug properties, including efficacy, selectivity, pharmacokinetics and potential toxicity, and is specially designed to identify drug candidates for challenging targets.
Evan Feinberg, Ph.D., the CEO of Genesis, highlighted the potential of AI in transforming the drug discovery landscape. He expressed optimism about the company’s growth, especially with the addition of new investors who come from both biotech and AI backgrounds.
Vijay Pande, Ph.D., a key figure at a16z Bio + Health, underscored Genesis’ proficiency in integrating deep learning with simulations from the get-go. He praised the company’s GEMS platform and its capabilities in tackling previously undruggable conditions, emphasizing the blend of technology and biomedicine as a significant catalyst for future medical innovations.
With this Series B funding, Genesis Therapeutics’ total capital now surpasses US$280 million. Alongside this, US$24 million of SAFE notes from an earlier round led by Radical Ventures were converted as the Series B concluded. Before this, they raised a US$52 million Series A led by Rock Springs Capital and a US$4 million seed round led by a16z Bio + Health. Moreover, the company has formed partnerships with industry giants like Genentech and Eli Lilly in the past.
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