Source: Caixin.
In a round of private equity financing, Israel's AI medical company CytoReason raised $80 million, with participants including Nvidia, Pfizer, and Thermo Fisher Scientific. The company plans to expand the application of its model to more indications and expand its database. 10-30 billion yuan products operating income of 401/1288/60 million yuan respectively.
CytoReason is an Israeli start-up that uses artificial intelligence to build disease models for drug development. The company announced on Wednesday that it raised $80 million in a round of private equity financing.$NVIDIA (NVDA.US)$,$Pfizer (PFE.US)$The US biotechnology company$Thermo Fisher Scientific (TMO.US)$And the venture capital firm OurCrowd participated in this round of financing.
CytoReason said they plan to expand the application of their model to more indications and expand their proprietary molecular and clinical databases. The company also plans to establish an office in Cambridge, Massachusetts, later this year, a city with two world-renowned universities, Harvard and MIT.
CytoReason's machine learning software collects and combines data from various sources to explore disease mechanisms. Next, the technology constructs digital human models and predicts the body's response to drugs, thus providing direction for patient medication.
CytoReason said that its large database and AI-driven platform help pharmaceutical and biotech companies reduce the trial phase and development costs, while increasing the likelihood of drug approval.
"The world has realized that data alone is not enough, the future of data-driven insights lies in data modeling." CytoReason co-founder and CEO David Harel said.
In 2022, Pfizer announced a $20 million private equity investment in the Israeli company. The investment was part of a five-year agreement worth up to $110 million to authorize CytoReason's platform and disease models. CytoReason also partnered with other leading pharmaceutical companies worldwide, including Sanofi in France, Roche and Novartis in Switzerland, and GlaxoSmithKline in the UK.
Mikael Dolsten, chief scientific officer of Pfizer, said that the rapid expansion of new technologies such as artificial intelligence has tremendous potential to create new possibilities for human health. Pfizer can use CytoReason's platform to enhance its own research and development capabilities and provide insights for the development of new drugs.
According to CytoReason, six of the world's top ten pharmaceutical companies use their technology to make data-driven decisions in the fields of immunology, immuno-oncology, and other areas of treatment.
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