Ten63 Therapeutics, a Durham, NC-based company combining generative AI and physics-based models to develop therapeutics, raised $15.9M in Series A funding.
The round, announced at the beginning of May 2023, was led by Hatteras Venture Partners with participation from Morpheus Ventures, SOSV, Draper Associates, Alexandria Venture Investments, the Sigma Group. Clay Thorp, Co-Founder and General Partner at Hatteras, joined as Ten63’s new Chairman of the Board.
The company intends to use the funds to advance and expand its internal pipeline of first-in-class small molecules inhibiting high-impact cancer targets, including continued progression of its lead Myc inhibitor program.
Led by CEO Marcel Frenkel, Ten63 developed Beyond, a proprietary drug discovery engine that combines physics and AI in hyper-efficient search algorithms, to pursue validated biological targets that exceed the reach of conventional therapeutic research. The company is progressing multiple targets within its pipeline, but is currently only disclosing its lead program, a Myc inhibitor. Myc is one of the most-studied oncogenes and believed to drive up to 70% of all cancers. Despite hundreds of attempts spanning 40 years, it remains infamously elusive. Ten63 believes its computational platform BEYOND has the potential to crack Myc, as well as other undruggable oncogenes.
FinSMEs
15/06/2023