Atomwise Raises $45 Million Series A to Become the Preferred Expert System Partner for the Global Pharmaceutical Industry
March 8, 2018
Atomwise Raises $45 Million Series A to Become the Preferred Expert System Partner for the Global Pharmaceutical Market
San Francisco, California-- March 7, 2018-- Atomwise Inc. today announced it has actually raised $45 million of growth financing, led by Monsanto Development Ventures, DCVC (Data Collective), and B Capital Group, in assistance of its objective to become the favored expert system partner for the world's leading pharmaceutical, biotech, and agrochemical companies. Previous financiers, including Y Combinator, Khosla Ventures, and DFJ got involved in the Series A financing, and are joined by brand-new investors Baidu Ventures and Dolby Household Ventures. The oversubscribed round brings Atomwise's total capital raised to more than $51 million.
"Atomwise was the very first startup to commercialize deep neural networks for drug discovery in 2012," stated Dr. Abraham Heifets, Co-founder and CEO of Atomwise. "It seemed to numerous like sci-fi then, now in 2018, Atomwise has the business traction with a host of customers to demonstrate our management in AI for drug discovery."
Atomwise's Series A marks the conclusion of two years of extraordinary company development. Atomwise has struck collaborations with four of the top-ten U.S. pharma companies, numerous biotech firms, and over forty major research universities. All informed, Atomwise has more than fifty unique molecular discovery programs. The Atomwise approach demonstrates a new design for a pharmaceutical industry that is dealing with a crisis of decreasing performance, investing more on research study each year, yet achieving less developments per dollar.
"With our partners, Atomwise has actually brought the power of expert system to development research on lethal viruses, a number of types of cancer, neurodegenerative illness, metabolic diseases, dangerous bacteria, endemic parasites, and crop-blighting fungis in farming" stated Dr. Izhar Wallach, Co-Founder and CTO of Atomwise. "With this funding, Atomwise is ready to assist hundreds of companies find compounds that might become tomorrow's blockbusters."
Like software utilized to create airplanes and computer chips in simulation, Atomwise can assist make forecasts about new potential medicines prior to they are made, minimizing the need for expensive and lengthy physical synthesis and screening. Its revolutionary AtomNet drug research study technology learns like a human chemist, using powerful deep learning algorithms and flexible supercompute platforms to examine countless potential medicines each day.
"DCVC led Atomwise's seed, and has actually continued to double down on this fantastic group since they have actually integrated advancement AI-driven performance with disciplined execution and delivery for a few of the world's most demanding life science business," said Matt Ocko, Handling Partner of DCVC. "We're delighted that conventional life sciences is just the start for Atomwise, with the company demonstrating transformational results in assaulting problems in farming and other international markets too."
Atomwise has actually delivered promising research results because its seed financing in 2015. Dozens of its discovery programs have actually achieved success in the hands of its partners, contrasting with a market that typically has incredibly high rates of failure for equivalent work. AtomNet has actually drastically outshined status quo technologies, identifying "active" hit substances at a rate up to 10,000 X greater than the physical high-throughput screening techniques it augments. Today, Atomwise screens more than 10 million compounds every day.
"We opted to invest based on the remarkable results we saw from Atomwise in our own hands," included Dr. Kiersten Stead, Partner at Monsanto Growth Ventures. "Atomwise had the ability to discover promising compounds against crop protection targets that are essential areas of focus for agrochemical R&D."
Aside from a massive increase in discovery performance, AtomNet also supplies greater understanding of the toxicity, adverse effects, system of action, and effectiveness of a drug, far earlier than common in a drug pipeline. This capability provides Atomwise clients an exponential decrease in the expense and danger of drug discovery. Because context, Atomwise's option of strategic financiers with deep market ties is critical for achieving its vision of transforming the way medicines are found.
"The one-trillion dollar worldwide pharmaceutical market is quickly moving towards AI-driven R&D efficiency and Atomwise is plainly leading this charge." stated Gavin Teo, Partner at B Capital Group. "B Capital, integrated in collaboration with the Boston Consulting Group, is delighted to support Atomwise to expand and deepen relationships with biopharma corporates seeking transformative technology to grow their R&D pipeline."
"We thank long-time investors DCVC, and welcome Monsanto Development Ventures, and B Capital Group," concluded Abraham Heifets. "Atomwise's brand-new board members Kiersten Stead, Matt Ocko, and Gavin Teo combine the absolute best of deep tech, life science, and business experience. We can't wait to deal with them."
Atomwise utilizes artificial intelligence to assist find new medicines and agricultural substances. Its revolutionary AtomNet innovation factors like a human chemist, using effective deep learning algorithms and supercomputers to examine millions of prospective molecules each day. Atomwise has actually released more than 50 discovery tasks in collaboration with the world's leading research business and universities. Now, through its numerous partnering programs and robust endeavor funding, Atomwise is actively seeking brand-new collaborators to attend to the global health challenges of our time utilizing the power of artificial intelligence.About Monsanto Growth Ventures Monsanto Development Ventures
, the endeavor capital arm of Monsanto Business, is growth-stage agnostic and will buy business from Seed phase, through Series A and beyond. Its robust program for partnering with early-stage business leads to stronger collaborations, partnerships that speed up advancement and, in some cases, inning accordance with tactical goals, mergers and acquisitions. As one of more than a dozen active business in the MGV portfolio, the financial investment in Atomwise matches Monsanto's approach to integrating plant breeding, plant biotechnology, crop protection, ag biologicals and information science platforms to provide growers better tools and innovations for producing much better harvests, safeguarding crops and saving resources in the face of installing ecological challenges such as environment modification and water deficiency. For more details on Monsanto Growth Ventures, check out https://monsanto.com/company/monsanto-growth-ventures/About DCVC Information Collective(DCVC)is an endeavor capital fund that backs business owners applying deep tech to transform giant industries. DCVC
and its principals have actually supported brilliant people changing global-scale companies for over twenty years, helping produce 10s of billions of dollars of wealth while also making the world a considerably better location. DCVC brings to bear an unique design that joins a group of skilled investor with more than 50 innovation executives and experts(CTOs, CIOs, Chief Researchers, Principal Engineers, Professors at Stanford, Berkeley, and significant technical universities )with substantial periods at leading 100 innovation companies and research study institutions worldwide. DCVC focuses on Seed and Series A business, and growth stage opportunities within its own portfolio. For additional information on DCVC, see or follow @dcvc on Twitter. About B Capital Group B Capital Group is an international venture capital firm that invests in groundbreaking healthcare, fintech, industrial logistics and customer enablement companies that are primed to scale throughout the global stage. Established in partnership with The Boston Consulting Group
, B Capital Group provides distinct access to top corporations, matching innovative start-ups with the world's leading CEOs, platforms, and brands. Existing portfolio business include AImotive, Bright.md, Capital Match, CXA, Evidation Health, Icertis, INTURN, Lanetix, Mswipe, Ninja Van and SilverCloud Health. For additional information, go to http://www.bcapgroup.com/.Press Contact Emily Rose (212)738-6066 [email protected]!.?.!Source:< a href =http://www.atomwise.com/atomwise-series-a/ target=_ blank rel=noopener > http://www.atomwise.com/atomwise-series-a/March 7, 2018