CAMBRIDGE, Mass.--(BUSINESS WIRE)--METiS Therapeutics debuts today with $86 million Series A financing to harness artificial intelligence (AI) and machine learning to redefine drug discovery and delivery and develop optimal therapies for patients with serious diseases. PICC PE and China Life led the financing and were joined by Sequoia Capital China, Lightspeed, 5Y Capital, FreeS Fund and CMBI Zhaoxin Wuji Fund. The financing will be used to advance the company’s pipeline of novel assets with high therapeutic potential and the continued development of its AI-driven drug discovery and delivery platform.
“METiS is well-positioned to change the drug discovery and delivery landscape with the creation of a proprietary predictive AI platform. We leverage machine learning, AI and quantum simulation to uncover novel drug candidates and to transform drug discovery and development, ultimately bringing the best therapies to patients in need,” said Chris Lai, CEO, and Founder, METiS Therapeutics. “We are fortunate that our world-class roster of investors believes in our vision and today’s news represents the first of many significant milestones that we will be accomplishing throughout the next year.”
The METiS platform (AiTEM) combines state-of-the-art AI data-driven algorithms, mechanism-driven quantum mechanics and molecular dynamics simulations to calculate Active Pharmaceutical Ingredient (API) properties, elucidate API-target and API-excipient interactions, and predict chemical, physical and pharmacokinetic properties of small molecule and nucleic acid therapeutics in specific microenvironments. This enables efficient lead optimization, candidate selection and formulation design. Founded by a team of MIT researchers, serial entrepreneurs and biotech industry veterans, METiS develops and in-licenses novel assets with high therapeutic potential that could benefit from its data-driven platform.
About METiS Therapeutics
METiS Therapeutics is a biotechnology company that aims to drive best-in-class therapies in a wide range of disease areas by integrating drug discovery and delivery with AI, machine learning, and quantum simulation. To learn more, visit www.metistx.com/.