Model Medicines, a San Diego, CA-based pharmatech company working to transform the drug discovery and development process and accelerate the creation of drugs using artificial intelligence and machine learning, closed a $4.1m financing round.
Backers included 8VC, Irving Investors, Particle X and Nex Cubed.
The company intends to use the funds to bolster its internal therapeutic pipeline tackling challenging diseases, rare diseases, and diseases of high unmet medical need, in areas including oncology, infectious diseases, and gastric disorders, among others, and further assemble a team of scientific, clinical, technical, and business leaders and further R&D of their AI/ML drug discovery platform by broadening its functionality and enhancing the efficacy of its discoveries.
Led by Daniel Haders II, Ph.D., CEO, Model Medicines is an AI/ML Drug Discovery company that reduces the time to bring a drug to market by leveraging the historical compendium of drug development data, a drug and disease agnostic discovery platform, and AI to create Phase II/III ready drug candidates. The company has developed a pipeline of patent-pending therapeutics for oncology, infectious diseases, gastric disorders, neurological disorders, and weight disorders.
Model Medicines recently leveraged its drug discovery platform to discover MDL-001, a once daily, oral, clinically safe and well-tolerated infectious disease drug candidate. The company moved the MDL-001 program from concept to IND-enabling studies in less than 12 months for a fraction of the cost associated with traditional drug development. Model Medicines also utilized its platform to discover over 30 in vitro disease model validated drug candidates for novel infectious disease targets discovered by Sanford Burnham Prebys’ and virologist Dr. Sumit Chanda.
FinSMEs
03/11/2021