XtalPi, an AI drug discovery and development start-up, has raised $318.8 million in Series C funding to transform durg discovery.
The oversubscribed funding round was co-led by SoftBank Vision Fund 2i, PICC Capital, and Morningside.
It is joined by over a dozen global investment companies in banking and technology, with follow-on investments from existing investors Tencent, Sequoia China, China Life, and SIG.
With the new round of funding, XtalPi will bring the power of quantum physics, AI, and almost limitless cloud resources to propel research scientists towards drug candidates with tailored pharmaceutical profiles.
Its platform takes the unique approach of combining physics-based and data-driven models to comprehensively address all drug properties relevant to progression into clinical studies.
By integrating the predictions of its virtual R&D platform with real-world data from modern laboratories, XtalPi will develop a digital-twin drug R&D system to provide a scalable and sustainable advantage that translates to more promising drug candidates with fewer experiments in less time.
“In the past few years, we have focused on developing and validating our platform’s capabilities by working with some of the top innovative pharmaceutical and biotech companies in the world,” said Dr. Shuhao Wen, chairman and co-founder at XtalPi.
“As an advocate and trailblazer in AI drug discovery, our investors and we are heartened by several of our AI drug discovery collaborations that reached milestones in significantly shortened timeframes.”
“We believe AI holds the answer to solving pharma’s productivity challenge. More specifically, XtalPi’s AI-powered platform can improve the industry’s research efficiency and success rate in order to lower costs for discovering and developing new drugs.
“We look forward to applying our platform to help clients bring more first-in-class and breakthrough drugs to the market and address significant unmet medical needs to benefit patients on a global scale.”
In the next steps, XtalPi will expand its Intelligent Digital Drug Discovery and Development (ID4) platform’s capabilities through a three-pronged approach focused on algorithms, data, and computing power to address efficiency bottlenecks throughout the critical steps of pharmaceutical research.