Quris reels in $9M in seed funding to support AI innovations in trials
21 Dec 2022
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Source: FierceBiotech
Bio-AI specialist Quris reaped $9 million in seed funding, bringing its total to $37 million that will help the company boost its platform.
Quris, a Boston- and Israel-based group focused on bio AI, reeled in another $9 million in seed funding, bringing its total to $37 million.
The latest round of fundraising was led by SoftBank Vision Fund 2 and included GlenRock Capital, iAngels, Welltech Ventures and Richter Group, the company said in a Dec. 20 press release. The funds will be used to hire new employees and grow its bio-AI platform.
“SoftBank’s ecosystem comprises an impressive cluster of companies leading the field of artificial intelligence for pharma,” said Quris CEO Isaac Bentwich, M.D., in the release. “As an investment partner, it gives them a unique perspective on this young and promising field that has already begun to produce significant unicorns.”
Quris discovered hundreds of novel microRNA genes through analysis of the human genome. The company uses patients-on-a-chip technology to generate a proprietary data set that is automated, predictive and uses classification algorithms to identify which drug candidates will work safely in humans.
Quris has said its platform can reduce the failure rate to 50%.
The company inked a partnership deal with Merck KGaA in February and recently established a commercially focused advisory board, enlisting former Pfizer CEO Henry McKinnell to serve as chairman.
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