twoXAR, Inc., a Palo Alto, California-based company advancing a digital approach to drug discovery, raised $3.4m in seed financing.
The round was led by Andreessen Horowitz, with participation from existing investors CLI Ventures and the Stanford-StartX Fund.
The company will use the funds to expand its engineering and commercial teams and advance new and existing partnerships focused on drug candidates for metabolic and neurological diseases.
Founded in 2014 by Andrew A. Radin, Chief Executive Officer and Co-founder, twoXAR is a technology-driven drug discovery company saying that its patent-pending algorithms enable it to find associations between drug and disease orders faster than wet lab-based approaches.
The company’s platform (DUMA™) evaluates massive public and proprietary datasets to identify and rank high probability drug-disease matches. These drug-disease matches can then be used to prioritize existing candidates, perform targeted searches and identify novel drug candidates for further clinical testing.
twoXAR has identified a number of candidates that they are actively taking through preclinical studies in collaboration with leading patient advocacy, academic research and biopharmaceutical organizations.
The technology is being validated through these collaborations and has been tested on more than 20 diseases to date.
FinSMEs
19/11/2015