BenevolentAI announces $90 million investment from Temasek
New capital will accelerate scientific and product innovation and drive further scale of drug discovery and development platform.
London, September 17 2019: BenevolentAI, the leader in the creation and application of AI and machine learning to transform the way medicines are discovered and developed, today announces that it has raised $90 million from Temasek, a Singapore-headquartered investment company. Raine Advisors acted as exclusive financial advisors to BenevolentAI.
BenevolentAI aims to improve the lives of patients suffering from diseases with no effective treatment. The Benevolent Platform® is used by scientists and technologists to find new ways to treat disease, improve the efficacy and lower the development time and costs of new treatments.
The funding will be used to scale and further develop the Benevolent Platform for drug discovery and development. BenevolentAI will continue to advance its growing pipeline of internal drug development programmes and collaborations with strategic partners across its key therapeutic areas. Most recently, BenevolentAI announced long-term collaborations with AstraZeneca and Novartis, which will generate meaningful revenues for BenevolentAI over a multi-year period.
Joanna Shields, CEO of BenevolentAI, said:
“We are pleased that Temasek has invested in us to support our mission to bring more effective medicines to the patients who need them. This year, we have demonstrated strong commercial and scientific progress and this funding will further scale our technology and support the development of our pipeline of potentially transformational medicines.”
The Benevolent Platform® is a leading computational and experimental drug discovery platform that enables scientists to uncover new ways to treat disease and personalise drugs for patients. It focuses on three key areas; target identification, molecular design and precision medicine, to better understand the underlying mechanisms of disease and to develop new treatments for the millions of patients who need them.
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BenevolentAI, founded in 2013, creates and applies AI and machine learning to transform the way medicines are discovered and developed. Benevolent integrates its technology into every step of the drug discovery process from hypothesis generation to late-stage clinical development. The Benevolent Platform® used by over 200 BenevolentAI scientists and technologists ingests molecular, clinical, pharmacological data and scientific literature, to derive contextual relationships across all relevant biomedical entities leading to the proposal of novel and optimal drug targets. The Platform supports scientists in the design and optimisation of the right drug molecule for a unique patient population.
BenevolentAI is headquartered in London with a research facility in Cambridge (UK) and further offices in New York. BenevolentAI has active R&D drug programmes in disease areas such as ALS, Parkinson’s, Ulcerative Colitis and Sarcopenia.