CytoReason, a Tel Aviv, Israel-based company which specializes in developing computational disease models for predictive insights, raised an aggregated $80M.
The amount was led by OurCrowd, NVIDIA (Nasdaq: NVDA), Pfizer (NYSE: PFE), and Thermo Fisher Scientific (NYSE: TMO). Bank Hapoalim provided structured financing through its Tech Sector, Business Banking Division. Nomura Securities and Locust Walk advised the company in the transaction.
The company intends to use the investment to expand the application of its models into additional indications, grow its proprietary molecular and clinical data, and establish an office in Cambridge, MA, later this year.
Led by CEO David Harel, CytoReason is a tech company using computational disease models for predictive asset insights. Therapeutic area leaders, research teams, and scientists of all levels use its technology to increase the speed and accuracy of R&D decisions. For example, scientists can prioritize potential targets and indications, and stratify patient populations. Program leaders can compare drugs across multiple diseases or multiple drugs within a single disease. C-level executives can gain valuable insights by comparing their R&D portfolios to treatment alternatives.
Since the company announced the expansion of its Pfizer partnership in 2022, CytoReason has added three major pharma partnerships, expanded its coverage of disease models to central nervous system (CNS)-related diseases, and partnered with leading data organizations.
FinSMEs
17/07/2024