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Drug discovery platform TandemAI secured $22 million in a Series A extension funding round.
V-Capital and KHK Fund participated in the round.
WHAT IT DOES
TandemAI's web-based platform, TandemViz, allows the integration and visualization of experimental data alongside computational analyses.
The platform also allows end users to integrate disparate information and connect directly to external data repositories, enabling access to an array of resources for research purposes.
The funds will be used to expand the company's drug discovery platform.
"The financing is a strong vote of confidence in our progress to date and in our strategy," Jeff He, cofounder and CEO of TandemAI, said in a statement.
"This funding will support AI and computational physics-based model development for multiple modalities, as well as wet lab capacity expansion to accommodate our rapidly growing client base."
MARKET SNAPSHOT
In July, TandemAI merged with Perpetual Medicines. The new company operates under the brand TandemAI and provides partners with an extended range of methods and workflows for both small-molecule and peptide drug discovery.
In 2023, TandemAI scored $35 million in Series A funding led by Qiming Venture Partners, with participation from Eight Roads Ventures, OrbiMed and F Prime Capital.
The company used the funds to expand integrated computational tools and wet lab biophysics.
Other companies in the drug discovery space include Iambic, which earlier this month announced an oversubscribed $100 million funding round.
In January, Manas AI launched with $24.6 million in seed funding in a round co-led by General Catalyst and LinkedIn and Manas AI cofounder Reid Hoffman.
Manas AI's drug discovery platform uses its proprietary AI, biology, generational computational chemistry and advanced molecular docking for drug discovery and development, from identification to clinical trials.
The company used the funding to scale its AI platform, grow its global clinical programs and boost its drug candidate pipeline.
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