On May 21, 2024, the London, UK-based AI life sciences and drug discovery startupLabGeniusannounced it has raised £35 million in Series B funding, with investors in this round including M Ventures, Octopus Ventures, LG Group, and existing investors Atomico, Kindred Capital, Lux Capital, and Obvious Ventures.
The company plans to use the raised funds to accelerate the development of its machine learning-driven drug discovery platform EVA and advance its product pipeline.
LabGenius was founded in 2012, with Dr James Field serving as CEO. The company's main business is developing its EVA drug discovery platform, which uses machine learning technology to design, execute, and learn from experiments to identify high-performance antibodies. Currently, the company is using this platform to develop solutions for solid tumors that may be resistant to therapeutic antibodies.
(Source:UKTN）