UK artificial intelligence start-up BenevolentAI has raised $115m from new and existing investors at a pre-money valuation of $2bn. The lion’s share of the money is being earmarked for substantially scaling its drug development activities, broaden the disease areas on which it focuses and rapidly advance these programs to the clinic. Its drug discovery arm BenevolentBio already 22 drug candidate programs in place including a potential Parkinson’s disease treatment, partnered with Janssen, which is in Phase II testing.
BenevolentAI Scoops $115M For AI Drug Development
At a pre-money valuation of $2bn, BenevolentAI raises $115m to develop artificial intelligence approach that already can cut early drug development timeline by four years.
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The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
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