AI drug discovery groups benefiting from venture interest as Xaira shows the way
CytoReason’s $80 million venture round may not have been the biggest in July, but it is one of a growing number of investor bets on AI-powered drug discovery this year.
The Israeli startup’s raise came only a month after Foundation Bio’s $372 million series B round and Vilya’s $71 million series A round, showing the appetite for AI drug discovery companies.
This appetite reached supersized proportions in April with Xaira’s monster $1 billion round. The San Francisco-based company not only beat records for investment in this space, but also set a high bar in terms of the big names attached to the company, which included former US Food and Drug Administration commissioner Scott Gottlieb and ex-J&J CEO Alex Gorsky.
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