LabGenius Raises £35M in Series B Funding

LabGenius Raises £35 Million in Series B Funding Round

Drug discovery company LabGenius has secured £35 million in a Series B funding round, bolstering their total funding to £58 million. LabGenius utilizes their machine learning platform, EVA™, alongside a robotic platform to design and optimize therapeutic antibodies, with a focus on addressing on-target, off-tumor toxicity. The company implements Multi-Objective Bayesian Optimization to co-optimize antibodies, aiming to streamline the process and reduce human bias. Notably, M Ventures, Octopus Ventures, and LG Corp are new investors, alongside existing investors. The capital infusion will fuel LabGenius's platform expansion, pipeline progression, and formation of broader strategic partnerships.

Key Takeaways

• LabGenius has raised £35 million in Series B funding, bringing their total funding to £58 million.
• The company uses a machine learning platform, EVA™, to design and optimize therapeutic antibodies, targeting the reduction of on-target, off-tumour toxicity.
• LabGenius employs Multi-Objective Bayesian Optimization (MOBO) to co-optimize antibodies across various properties, aiming to minimize human bias and produce innovative designs.
• New investors include M Ventures, Octopus Ventures, and LG Corp, alongside existing investors.
• The funding will support LabGenius's platform expansion, pipeline progression, and formation of broader strategic partnerships.

Analysis

LabGenius' successful £35 million Series B funding round underscores a strong belief in its machine learning-led drug discovery platform, EVA™. This funding will accelerate its efforts in combating on-target, off-tumor toxicity, a prevalent challenge in therapeutics development. Furthermore, the involvement of new investors such as M Ventures, Octopus Ventures, and LG Corp will likely lead to substantial returns on their investments.

This funding round may stimulate heightened competition in the AI-driven drug discovery sector, spurring both established players and startups to pursue further innovation. As LabGenius and its counterparts advance, pharmaceutical companies may seek strategic partnerships or consider acquiring such technologies to fortify their pipelines and retain a competitive advantage.

In the long run, AI-powered drug discovery has the potential to revolutionize therapeutic development, rendering it more efficient, targeted, and cost-effective, which could yield significant benefits for healthcare systems and patients worldwide.

Did You Know?

• EVA™: LabGenius's robotic platform leverages machine learning to design and optimize therapeutic antibodies, specifically addressing on-target, off-tumor toxicity in therapeutic development.
• Multi-Objective Bayesian Optimization (MOBO): This advanced machine learning technique streamlines the co-optimization of antibodies across various properties, diminishing human bias and leading to innovative designs.
• M Ventures, Octopus Ventures, and LG Corp: These new investors, combined with existing ones, exemplify a strong vote of confidence in LabGenius's technology and vision. M Ventures is the strategic corporate venture capital arm of Merck KGaA, Darmstadt, Germany, and Octopus Ventures is a leading European venture capital firm, while LG Corp is a multinational conglomerate corporation headquartered in South Korea.