Biorelate, a Manchester, UK-based biotech company, raised £6.5M in Series A funding.
The round was led by Maven Capital Partners and YFM Equity Partners. The funding was raised through YFM’s VCTs, the Maven VCTs and Triple Point Ventures, with continued investment from NPIF – Maven Equity Finance, which is managed by Maven and part of the Northern Powerhouse Investment Fund, as well as a group of angel investors from the Manchester Tech Trust.
The company intends to use the funds to expand its product, sales and marketing departments, and establish operations in the US.
Founded in 2014 and led by Daniel Jamieson, Biorelate curates dark biomedical knowledge to empower drug discovery with its proprietary AI platform, Galactic AI. The technology combines natural language processing (NLP) and machine learning (ML) to capture valuable biomedical data that pharmaceutical and life sciences organisations can utilise to improve decision making in their drug discovery programs.
Since launching Galactic AI™ in 2020, Biorelate has experienced significant growth and has brought on board leading global companies such as AstraZeneca and Idorsia, as well as a host of other undisclosed names.
FinSMEs
29/11/2022