AI drug discovery startup Genesis Therapeutics has successfully secured $200 million in a Series B funding round, as announced on Monday. This round was led by Andreessen Horowitz, in collaboration with an undisclosed life sciences investor. With this injection of funds, Genesis has now accumulated a total capital pool exceeding $280 million.
Genesis intends to employ this financial backing to advance its portfolio of “AI-enabled” drug initiatives and further expand its research efforts in novel directions. The company specializes in harnessing artificial intelligence to enhance the modeling and prediction of protein properties and their molecular interactions.
Vijay Pande, a founding general partner of Andreessen Horowitz’s “Bio + Health” practice and a co-inventor of some of Genesis’ technology, expressed enthusiasm about the convergence of technology and biomedicine, emphasizing the untapped potential within this nexus.
Despite skepticism from certain quarters of the biotech industry regarding the actualization of its promised potential, the field of AI drug discovery continues to attract substantial investments. Genesis has garnered interest from major pharmaceutical players such as Eli Lilly and Roche, who formed partnerships with the startup in 2022 and 2020, respectively. Similarly, other AI-focused companies like Recursion Pharmaceuticals, Exscientia, BenevolentAI, and Insitro have also secured substantial partnerships with major drug manufacturers.
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Nonetheless, even within the AI sphere, the biotech industry has not been immune to the broader turbulence experienced. For instance, BenevolentAI implemented staff reductions and research restructuring this spring in an effort to preserve cash.
Genesis’ Series B funding round saw participation from prominent backers including Fidelity Management, BlackRock, and Nvidia’s venture capital arm. Previous investors like T. Rowe Price, Rock Springs Capital, Radical Ventures, and Menlo Ventures continued to support the company as well.
