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Capital to be invested in company’s AI platform and discovery pipeline.
Genesis Therapeutics, an artificial intelligence (AI) technology company, has officially closed series B funding with an oversubscribed total of $200 million. Reportedly, the newly acquired funds will be used to advance its pipeline of AI-enabled programs into clinical development. Genesis also intends on initiating new programs for underserved patient populations and leveraging the Genesis Exploration of Molecular Space (GEMS) platform to make progress against challenging and previously undruggable targets.
“AI presents a potent opportunity to revolutionize the drug discovery process, which frequently struggles to produce viable drug candidates against targets that are biologically well-validated but considered undruggable due to highly challenging chemistry,” said Evan Feinberg, PhD, CEO, Genesis Therapeutics, in a company press release. “This funding comes as Genesis is approaching an inflection point with the first of our AI-enabled drug candidates entering the clinic. The addition of our new lead investor, and other meaningful additions to our biotech and AI-oriented syndicate, will support Genesis in developing breakthrough therapies for patients with severe unmet medical needs, and their families, capitalizing on the broad applicability and potential of the GEMS AI platform.”
Reference: Genesis Therapeutics Closes Oversubscribed $200 Million Series B. BusinessWire. August 21, 2023. Accessed August 22, 2023. https://www.businesswire.com/news/home/20230821419353/en/Genesis-Therapeutics-Closes-Oversubscribed-200-Million-Series-B