SOMERVILLE, MA, Generate:Biomedicines, a clinical-stage biotherapeutics company pioneering a machine-learning-powered generative biology platform, has raised $273 million in Series C financing.
This financing round attracted many new investors including Amgen; NVentures, NVIDIA's venture capital arm; MAPS Capital (Mirae Asset Group); and Pictet Alternative Advisors. Additionally, company founder, Flagship Pioneering, and every Series B investor, including a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA); Fidelity Management & Research Company; funds and accounts advised by T. Rowe Price Associates, Inc.; ARCH Venture Partners; and March Capital, participated in the round.
Generate:Biomedicines is the first drug generation company pioneering a machine learning-powered generative biology platform with the ability to create new drugs on demand across a wide range of biologic modalities. The Generate Platform - which is a continuous loop to generate, build, measure, and learn - can drastically increase the speed at which targets and therapeutics are identified and validated. This will improve the specificity of target engagement by generated proteins and reduce the time and cost of identifying and developing clinical candidates.
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