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news Dec 13, 2013

London-based tech company using artificial intelligence to augment medical research secures further financing

London, 13 December 2013 - BenevolentAI, a pioneering London-based technology company that uses artificial intelligence to transform the process of pharmaceutical research and development today announced it has raised a further £8 million in funding. 

The considerable investor interest in BenevolentAI showcases the attractiveness of the company’s innovative approach which allows scientists to develop drugs better and faster. Current backers include institutional investors as well as two pharmaceutical partners. 

Many of the investors have previously backed projects by Ken Mulvany, one of BenevolentAI’s founders. These include the highly successful biotechnology research firm Proximagen, which was sold to U.S. drugmaker Upsher-Smith Laboratories for up to $555m in September 2012. 
BenevolentAI will use the funds raised to further expand its team and accelerate the development of its technology platform, as well as initiate its own proprietary drug discovery programmes.