Israeli startup DeepCure, which develops novel, small molecule therapeutics using what it claims to be the world’s largest AI drug discovery engine, announced on Monday the closing of a $40 million Series A financing round led by Morningside Ventures with participation from existing investors TLV Partners, Sapir Venture Partners, and Benon Group Ltd. The company has raised a total of $47 million in financing since its inception.
The proceeds from the Series A financing will be used to expand DeepCure’s pipeline with five additional oncology programs and develop an automated robotic wet lab to fulfill its vision of developing drugs that are fully designed, synthesized, and tested by AI. The funding will also be used to double the headcount of its current drug discovery scientists and technologists next year, including a global expansion with the launch of two new sites in Greece and Israel.
“We are delighted to welcome a top-tier syndicate of leading healthcare investors led by Morningside Ventures that support our vision of developing an end-to-end drug discovery pipeline designed, optimized, synthesized, and analyzed by AI,” said Kfir Schreiber, CEO, and Co-Founder of DeepCure. “We have made tremendous progress since founding DeepCure a few years ago, and this financing reflects strong support for our technology platform, people, strategy, and most importantly, our mission to accelerate the discovery of novel targets and therapies which were previously undruggable.”
Source: calcalistech.com
