Uses AI to help discover new drugs
British drug developer, BenevolentAI, has just raised $115m (£81m) in a funding round.
The biotech unicorn, which has more than 20 drugs in development, plans to use the funds to increase the scale of its activities and broaden the disease areas on which it focuses. A portion will also go into work on other science-based industries such as advanced materials, agriculture and energy storage.
“We are pioneering this sector and have evolved into a fully integrated, AI-enabled drug development company with the ability to deliver better medicines at previously unimaginable speeds,” said BenevolentAI founder and chairman Ken Mulvany.
“This ultimately means patients will receive the right medicines, at a lower cost, in less time.”
Founded in 2013, the London-based company uses proprietary algorithms to analyse millions of pieces of scientific research and clinical studies in the search both for possible new medicines and new applications for existing drugs.