Atomwise, a San Francisco, CA-based company deciphering human disease via an AI-drug discovery portfolio, closed a $123m Series B financing round.
The round, brings the total amount of capital raised to date to almost $175m, was led by B Capital Group and Sanabil Investments with participation from returning investors DCVC, BV, Tencent, Y Combinator, Dolby Ventures, AME Cloud Ventures, as well as new backing from two top ten global insurance companies. In conjunction with the funding, Raj Ganguly of B Capital Group joined the board while Hani Enaya of Sanabil joined as a board observer.
Led by Abraham Heifets, CEO and co-founder, Atomwise leverages deep learning AI technology for structure-based small molecule drug discovery. Created in 2012, the company currently performs hundreds of projects per year in partnership with some of the world’s largest pharmaceutical and agrochemical companies, as well as more than 200 universities and hospitals in 40 countries. AtomNet®, its AI platform built for drug discovery, contains more than 16 billion molecules for virtual screening.
Atomwise intends to use the funds to continue to scale its AI technology platform and team and expand its work with corporate partners, which currently include major players in the biopharma space such as Eli Lilly and Company, Bayer, Hansoh Pharmaceuticals, and Bridge Biotherapeutics, as well as emerging biotechnology companies like StemoniX and SEngine Precision Medicine. Atomwise has signed more than $5.5 billion in total deal value with corporate partners to date.
The company will also continue to grow its portfolio of joint ventures with leading researchers using AtomNet® for drug discovery, like those it has launched with X-37, Atropos Therapeutics, Theia Biosciences and vAIrus, with a goal to commercialize high potential candidates through the drug development process.
The technology is covered by 19 issued patents, and research partnerships have generated 17 pending patent applications and several peer-reviewed publications. Atomwise has 285 active drug discovery partnerships with researchers at top universities around the world, and recently announced 15 research collaborations with global universities to explore broad-spectrum therapies for COVID-19, targeting 15 unique and novel mechanisms of action.