AI Pharmaceutical Company Galixir Completes Two Financing Rounds, Raising Tens of Millions of Dollars
AI pharmaceutical company Galixir announced on Dec. 29 the completion of its latest two financing rounds, the Series A and Series A+, together worth tens of millions of dollars.
The Series A and A+ rounds, whose volume of funds has not been disclosed perspectively, are invested by ventures including Red Point, Gaorong Capital, Bertelsmann Asia Investments, DCM Capital, Source Code Capital and 5Y Capital.
Galixir said the funds will be used to expand the scale of its research and development team and build a professional biochemical testing laboratory, aiming to achieve rapid project optimization and advancement.
The past year witnessed swift growth of Galixir. In the past four months, the company has received three rounds of fresh capital and Gaorong Capital has participated in all the funding.
Generally speaking, drug research and development can be divided into four stages, including medicine discovery, preclinical research, clinical research and approval and marketing. But established in 2019, the company has been dedicated to artificial intelligence pharmaceutical, whose primary competition lies in pipeline research and development.
Throughout the year, Galixir has also made major breakthroughs, including completing the medicine generation and screening evaluation model for innovative gene targets of difficult disease types. The ongoing research and development pipelines have made great progress and entered the stage of in-vivo and in-vitro laboratory verification.
Also, Galixir’s team used its own molecular design module and compound optimization module to obtain multiple new molecular designs and these design plans have also passed the wet lab verification.
“The results of the wet lab shows that we can efficiently and accurately find new molecules with better activity than the target drug, which makes it possible for us to advance our multiple research and development pipelines,” Chengtao Li, founder and CEO of Galixir said.
The company has been pioneering the domestic AI pharmaceutical field. Its technical capabilities are based on sophisticated AI models, which fully combine the two dimensions of computational chemistry and medicinal chemistry so as to build a complete set of automated systems through different tools.
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Galixir has created a variety of unique algorithms and established a series of deep learning models for drug target discovery, candidate compound generation, compound structure optimization, druggability and toxicity prediction and patent analysis.
Founded less than two years ago, the company has integrated hundreds of models, and has developed a process optimization program for drug discovery for cancer, metabolic diseases, and immune-related diseases, gradually establishing barriers in the AI drug development track.
