A16z-Backed AI Biotech Startup Genesis Therapeutics Raises $200M
Aug 21, 2023 - news.crunchbase.com
Genesis Therapeutics, a startup that uses AI to develop small molecule drugs, has raised $200 million in a Series B funding round. The round was co-led by Andreessen Horowitz Bio + Health and an unnamed U.S.-based life-sciences-focused investor, with participation from new investors Fidelity Management & Research Company, BlackRock, and NVIDIA’s venture arm NVentures, as well as existing investors T. Rowe Price Associates, Rock Springs Capital, Radical Ventures, and Menlo Ventures. The funds will be used to evolve Genesis into a clinical stage company, invest in its AI platform, and expand its discovery pipeline.
This funding comes as more than 130 U.S.-based companies have raised rounds of $100 million or more this year, with biotech startups leading the way with 34 rounds and AI startups receiving 13 such rounds. Genesis, founded in 2019, has now raised over $280 million in total.
Key takeaways:
Genesis Therapeutics, a startup that uses AI to develop small molecule drugs, has closed a $200 million Series B funding round.
The round was co-led by Andreessen Horowitz Bio + Health and an unnamed U.S.-based life-sciences-focused investor, with participation from new investors Fidelity Management & Research Company, BlackRock, and NVIDIA’s venture arm NVentures.
The funds will be used to help Genesis evolve into a clinical stage company, invest in its AI platform, and expand its discovery pipeline.
More than 130 U.S.-based companies have raised rounds of $100 million or more this year, with biotech startups raising 34 of those rounds and AI startups receiving 13.
