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Former Google AI expert raises $100mn for biotech start-up
Summary:
Inceptive, a biotech start-up founded by a former Google AI expert, has raised $100mn in funding from Nvidia and Andreessen Horowitz. The funds will be used to develop new vaccines and drugs using AI technology. Inceptive utilizes AI to design unique molecules made of mRNA, licensing them out to pharmaceutical companies for clinical trials. The start-up is part of a larger trend of applying AI to drug development, with the market for AI in the sector estimated to be worth $50bn. Inceptive's valuation has tripled with this latest funding round. The company is working with a large European pharmaceutical company to develop a new infectious disease vaccine. The success of mRNA in Covid-19 vaccines has opened up opportunities for similar applications. Other biotechs using AI tools in drug development include Exscientia and Recursion Pharmaceuticals. Inceptive's co-founder, Jakob Uszkoreit, has a background in applying AI to predict the structure of human proteins.
Main takeaways:
- Inceptive, a biotech start-up founded by a former Google AI expert, has raised $100mn in funding from Nvidia and Andreessen Horowitz.
- The funds will be used to develop new vaccines and drugs using AI technology.
- Inceptive designs unique molecules made of mRNA and licenses them out to pharmaceutical companies for clinical trials.
- The market for applying AI to drug development is estimated to be worth $50bn.
- Inceptive's valuation has tripled with this latest funding round.
In conclusion, Inceptive's funding from Nvidia and Andreessen Horowitz will allow the biotech start-up to further develop its AI-driven approach to drug development, with a focus on vaccines and drugs made of mRNA. The success of mRNA in Covid-19 vaccines has created new opportunities in the pharmaceutical industry, and Inceptive aims to capitalize on them. The market for AI in drug development is growing rapidly, and Inceptive's valuation reflects the potential of its technology.
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