The company has raised a total amount of almost $175m to date. The latest round was led by B Capital Group and Sanabil Investments with active participation from returning investors DCVC, BV, Tencent, AME Cloud Ventures, Y Combinator, Dolby Ventures, and new backing from two top ten global insurance companies.
FREMONT, CA: Atomwise, a San Francisco, CA-based company deciphering human disease via an AI-drug discovery portfolio, raised a $123m Series B financing round.
The company has raised a total amount of almost $175m to date. The latest round was led by B Capital Group and Sanabil Investments with active participation from returning investors DCVC, BV, Tencent, AME Cloud Ventures, Y Combinator, Dolby Ventures, and new backing from two top ten global insurance companies. In addition to the funding, Raj Ganguly of B Capital Group joined the board while Hani Enaya of Sanabil joined as a board observer.
“Over the past three years, our platform AtomNet® has tackled — and succeeded — in finding small molecule hits for more undruggable targets than any other AI drug discovery platform,” added Abraham Heifets, CEO and co-founder of Atomwise. “With support from our new and existing investment partners, we will be able to leverage this to develop our own pipeline of small molecule drug programs, further grow our portfolio of joint-venture investments, and realize our vision to create better medicines that can improve the lives of billions of people.”
Led by Abraham Heifets, CEO and co-founder, Atomwise uses deep learning AI technology for structure-based small molecule drug discovery. Created in 2012, the company currently performs hundreds of projects every year in partnership with some of the world’s largest agrochemical and pharmaceutical companies, as well as over 200 universities and hospitals in 40 countries. AtomNet, its AI platform built for drug discovery, contains over 16 billion molecules for virtual screening.
Atomwise plans to use the capital to continue to scale its AI technology platform and team as well as expand its work with corporate partners, which at the moment include major players in the biopharma space such as Hansoh Pharmaceuticals, Eli Lilly and Company, Bayer, and Bridge Biotherapeutics, as well as emerging biotechnology companies like SEngine Precision Medicine and StemoniX. Atomwise has signed over $5.5 billion in total deal value with corporate partners to date.
“New technologies are enabling better and faster R&D for the life science industry,” stated Raj Ganguly, co-Founder and Managing Partner at B Capital Group. “The advancements Atomwise has made with its computational drug discovery platform have effectively cut months or even years off of the R&D lifecycle. More importantly, however, they are solving biology problems previously believed to be unsolvable by researchers and delivering that capability to everyone from academics to big pharma. We’re excited to continue to partner with the Atomwise team on its mission to develop new, more effective therapies.”