AI Biotech Breakthrough: Genesis Secures $200M in Series B Funding to Propel AI-Enabled Drug Discovery into Clinical Development
Discover how California-based AI drug discovery startup, Genesis, has raised a staggering $200 million in an oversubscribed Series B funding round. The funds will drive the advancement of their AI-enabled drug discovery platform, GEMS, into clinical development, unlocking new possibilities in molecular drug design. Dive into the future of drug discovery with Genesis and their strategic partnerships with industry giants, propelling breakthrough therapies for unmet medical needs.
California-based AI drug discovery startup, Genesis, has marked a significant milestone by securing a remarkable $200 million in an oversubscribed Series B funding round. The funding, co-led by Andreessen Horowitz and a U.S.-based life sciences-focused investor, with participation from BlackRock, Fidelity Management & Research Company, and NVentures, propels the company's total raise to an impressive $280 million.
Genesis Exploration of Molecular Space (GEMS): Revolutionizing Drug Discovery
Genesis is renowned for its groundbreaking molecular AI platform, Genesis Exploration of Molecular Space (GEMS). This platform ingeniously combines deep learning and molecular simulations to craft high-potency small-molecule drugs. The newly acquired funds are earmarked to catapult Genesis into clinical development, pushing the boundaries of AI-enabled drug discovery.
Evan Feinberg, CEO of Genesis, emphasized the transformative potential of AI in revolutionizing the drug discovery process. He stated, "AI presents a potent opportunity to revolutionize the drug discovery process, which frequently struggles to produce viable drug candidates against targets that are biologically well-validated but considered undruggable due to highly challenging chemistry."
Strategic Partnerships Driving Innovation
Genesis has strategically positioned itself in the biotech landscape through key partnerships. In 2020, the company announced a collaboration with Genentech, a subsidiary of Roche, leveraging Genesis' graph machine learning and drug discovery platform to identify drug candidates across various disease areas. Another notable collaboration unfolded with pharmaceutical giant Lily (formerly Eli Lily) in a strategic effort to discover therapies using Genesis' machine learning models.
Seizing Opportunities and Future Prospects
The recent infusion of funds comes as Genesis approaches a pivotal moment with the imminent entry of its AI-enabled drug candidates into the clinical phase. The company plans to utilize the funds not only for clinical development but also to invest in novel generative and predictive AI methods. This strategic move aims to expand Genesis' portfolio by exploring targets that were previously considered challenging to drug.
Industry Recognition and Ongoing Success
Genesis' success story extends beyond funding milestones. The company received an upfront payment of $20 million in its collaboration with Lily, with the potential to earn up to $670 million in milestone payments and royalties on net sales. These achievements underscore the growing recognition of Genesis as a leading force in the intersection of AI and biotech.
In conclusion, Genesis' $200 million Series B funding marks a pivotal moment in the company's journey, propelling AI-enabled drug discovery into new frontiers. The infusion of funds, coupled with strategic partnerships and ongoing collaborations, positions Genesis at the forefront of innovation in the biotech landscape, promising breakthrough therapies for patients with severe unmet medical needs.
