CAMBRIDGE, Mass .– (COMMERCIAL THREAD) –METiS Therapeutics debuts today with $ 86 million Series A funding to harness artificial intelligence (AI) and machine learning to redefine drug discovery and delivery and develop optimal therapies for patients with the disease serious illnesses. PICC PE and China Life led the financing and were joined by Sequoia Capital China, Lightspeed, 5Y Capital, FreeS Fund and CMBI Zhaoxin Wuji Fund. The funding will be used to advance the company’s portfolio of new assets with high therapeutic potential and the continued development of its AI-based drug discovery and distribution platform.
“METiS is well positioned to change the landscape of drug discovery and delivery with the creation of a proprietary predictive AI platform. We are leveraging machine learning, AI and quantum simulation to discover new drug candidates and transform drug discovery and development, to bring the best therapies to patients in need, ”said Chris Lai, CEO and Founder of METiS Therapeutics. “We are fortunate that our roster of world-class investors believe in our vision and today’s news represents the first of many important milestones we will take over the next year.
The METiS Platform (AiTEM) combines cutting-edge algorithms based on AI data, quantum mechanics and mechanism-driven molecular dynamics simulations to calculate the properties of active pharmaceutical ingredients (APIs), elucidate API interactions -target and API-excipient, and predict the chemical, physical and pharmacokinetic properties of small molecule and nucleic acid therapies in specific microenvironments. This allows for efficient lead optimization, candidate selection and formulation design. Founded by a team of MIT researchers, serial entrepreneurs and veterans of the biotech industry, METiS develops and sublicenses new actives with high therapeutic potential that could benefit from its data-driven platform.
About METiS Therapeutics
METiS Therapeutics is a biotechnology company that aims to develop the best therapies in a wide range of disease areas by integrating drug discovery and delivery with AI, machine learning and quantum simulation. To find out more, visit www.metistx.com/.