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In AI-enabled drug discovery, there might be more than one winner | TechCrunch

Jul 30, 2023 - news.bensbites.co
Chipmaker Nvidia has invested $50 million into biotech startup Recursion, which plans to use the funding to accelerate the development of its AI foundation models for biology and chemistry. The company aims to build a definitive foundation model for drug discovery, a challenge that both Recursion and Nvidia believe can be solved with the help of AI. Recursion, which acquired two AI-enabled drug discovery companies, Cyclica and Valence, in May, is one of several companies in this space, many of which are based in Israel.

The article also discusses why Israel has become a hotbed for AI-enabled biotech companies. According to Lior Handelsman and Renana Ashkenazi, general partners at Israeli VC firm Grove Ventures, factors such as academic talent and entrepreneurial spirit have contributed to this. Additionally, Ashkenazi noted a change in the profile of biotech founders.

Key takeaways:

  • Nvidia has invested $50 million into biotech startup Recursion, which plans to accelerate the development of its AI foundation models for biology and chemistry.
  • Recursion aims to build a definitive foundation model for drug discovery, a task its CEO Chris Gibson describes as one of the world's most difficult challenges.
  • Recursion is not the only company working in the AI-enabled drug discovery space. It recently acquired two other companies in this field, Cyclica and Valence.
  • Many competitors in the AI-enabled biotech field are based in Israel, a trend that may be due to the country's academic talent, entrepreneurial spirit, and changing profile of biotech founders, according to general partners at Israeli VC firm Grove Ventures.
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