AI-based Healx raises $10 million for drug discovery

The UK company is the latest to join ranks of AI-focused drugmakers attracting venture capital.

The researcher who invented Viagra and a colleague at Cambridge University have become the latest to join the ranks of drug developers using artificial intelligence and attracting attention from venture capitalists.

Cambridge, UK-based Healx said Thursday that it had raised $10 million in a Series A funding round, led by London-based venture capital firm Balderton Capital. Fellow British venture capital firm Amadeus Capital Partners and Jonathan Milner – founder of life sciences supplier Abcam – also participated. Cambridge Rare Diseases Network founder Tim Guilliams and David Brown – who invented Pfizer’s erectile dysfunction drug, which is now available as a generic – are the founders of Healx.

The company uses the HealNet database, which maps more than 1 billion disease, patient and drug interactions and was built and maintained using machine learning techniques. The company plans to use the Series A round to expand its team of software engineers, data scientists, pharmacologists and drug development researchers.

Read more at medcitynews.com

Image Credit:  Alias Studio Sydney

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2018-07-30T13:47:58+00:00

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