Genesis Therapeutics, a Burlingame, Calif.-based company pioneering AI technologies to create medicines for patients with severe and unmet medical needs, completed a $52M Series A financing round.
Rock Springs Capital led the round. Several other investors participated, including funds and accounts advised byT. Rowe Price Associates, Inc., Seed-round lead investor Andreessen Horowitz, Menlo Ventures, and Radical Ventures, whose founders co-founded the world-leading Vector Institute for Artificial Intelligence. Kris Jenner, M.D., D.Phil., co-founder and managing partner of Rock Springs, has joined Genesis’ Board of Directors; Dr. Vijay Pande, who led Genesis’ seed round at Andreessen Horowitz, and Greg Yap of Menlo Ventures have joined as Board observers.
The Series A round had further participation by Felicis Ventures (also invested in the seed round), Jazz Venture Partners, Harpoon Ventures, Ulu Ventures, Mark Leslie (former CEO of Veritas Software), Jeffrey Rothschild (co-founder of Veritas Software; early employee, VP of Infrastructure Engineering at Facebook), Propagator Ventures, and Open Field Capital.
The company will use the proceeds of the financing as it focuses on driving its drug discovery and development programs through (i) expansion of its team of drug hunters, AI researchers, and software engineers, (ii) acceleration of its innovation in AI technologies, and (iii) advancement of its innovative therapeutics pipeline.
Led by Evan N. Feinberg, Ph.D., CEO and co-founder, Genesis is progressing both an internal drug pipeline, as well as select external partnerships, to create transformative therapies for patients. Most recently, the company announced a multi-target partnership with Genentech.
FinSMEs
02/12/2020