VeriSIM Life, a San Francisco, CA-based artificial intelligence (AI)-enabled, R&D decisions de-risker for breakthrough drug development, closed its $15 million Series A funding round.
The round was led by Morpheus Ventures with participation from Debiopharm Innovation Fund and Colorcon Ventures, and existing investors OCA Ventures, Intel Capital, Serra Ventures and Susa Ventures.
The company intends to use the funds to scale operations, democratize its ‘virtual drug development engine’ BIOiSIM, fast-track its sales and marketing efforts and continue work on transformational partnerships with industry and academia.
Founded in 2017 by Dr. Jo Varshney, DVM and PhD, VeriSIM Life has developed a computational platform that leverages advanced AI and ML techniques to improve drug discovery and development by reducing the time and money it takes to bring a drug to market. BIOiSIM is a virtual drug development engine that offers value for the drug development industry by narrowing down the number of drug compounds that offer anticipated value for the treatment or cure of specific illnesses or diseases. The program not only reduces the time and cost of drug discovery and development, it also greatly reduces the need for animal testing that, in the vast majority of cases, does not translate to humans (over 90% of drugs that are currently tested in animals fail to pass human clinical trials).