The AI-driven drug discovery sector is rapidly growing, with notable fundraises from companies like Healx, Formation Bio, and Xaira. Aqemia's collaboration with Cathay Innovation is expected to facilitate entry into new markets, particularly in the U.S. and Asia. The latest funding round also saw participation from existing investors Wendel, Bpifrance Large Venture, Eurazeo, and Elaia. Aqemia aims to accelerate global drug discovery efforts, leveraging its innovative approach and international partnerships.
Key takeaways:
- Aqemia, a French startup combining "quantum-inspired physics" with machine learning for drug discovery, has raised $38 million in a new funding round led by Cathay Innovation.
- This funding round is Aqemia's second of the year, bringing its total funding to over $100 million.
- The company focuses on oncology and immuno-oncology, using algorithms to generate synthetic data for drug candidate design, eliminating the need for costly experimental data.
- Aqemia plans to open a new office in London in early 2025 to access the UK's talent pool, with the support of global VC firm Cathay Innovation to expand into new markets.