PharmCADD, a Busan, South Korea-based Artificial Intelligence (AI) and Physics-based drug discovery company, raised USD 16m in Series B funding.
The round, which brought total funding raised to date to USD 22m, was led by strategic investors Huons, Samyang Holdings and SD BIOSENSOR and financial investors KTB Network, Daily Partners, DSC Investment, KDB Capital, Maple Investment and KB Securities.
The company intends to use the funds to launch the U.S. and India-based branches, to advance its AI & Physics-based drug discovery platform technology, Pharmulator™, to expand R&D manpower, and conduct preclinical study of internal pipelines.
Led by Mr. Taehyung Kwon, CEO, and Dr. Sangwook Wu, CTO, PharmCADD leverages an AI & Physics-based drug discovery platform technology, Pharmulator™, which integrates five core modules: (1) Protein 3D Structure Prediction (2) Molecular Dynamics Simulation (3) Quantum Calculation (4) Toxicity Prediction and (5) AI Drug Generation, to generate potent but less toxic novel synthetic small molecules. By employing this platform technology, the company is also actively expanding collaboration in the field of PROTAC (PROteolysis TArgeting Chimera), mRNA vaccine and DDS (Drug Delivery System).
PharmCADD currently employs 50 people (34 R&D members and 17 Ph.Ds among them).