LabGenius, a London, UK-based drug discovery company, raised £35M in Series B funding.
The round was led by M Ventures (the strategic, corporate venture capital arm of science and technology company Merck), with participation from additional new investors Octopus Ventures and LG Corp, together with existing investors including Atomico, Kindred Capital, Lux Capital and Obvious Ventures. The investment brought LabGenius’ total funding to date to £58M.
The company intends to use the funds to further develop its proprietary machine learning (ML)-driven drug discovery platform, which enables the rapid identification of biotherapeutics, and to progress a wholly-owned pipeline of multispecific antibodies for the treatment of solid tumours towards the clinic.
Led by CEO Dr. James Field, LabGenius is a drug discovery company pioneering the discovery of next-generation therapeutic antibodies. Its discovery platform, EVA™, integrates technologies drawn from the fields of artificial intelligence, robotic automation and synthetic biology. The company operates under a hybrid business model that involves partnering with large biotech and pharmaceutical companies in parallel with pursuing a wholly-owned therapeutic pipeline.
Oliver Hardick of M Ventures and Oliver Sims of Octopus Ventures have joined existing Directors Irina Haivas of Atomico, Leila Zegna of Kindred Capital, James Field (CEO) and Edwin Moses (Independent Chair) to form the company’s new Board of Directors.
FinSMEs
21/05/2024