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XtalPi to accelerate platform development
CAMBRIDGE, Mass.—XtalPi Inc., a computation-driven biotech startup integrating quantum physics, artificial intelligence (AI) and cloud computing to empower pharmaceutical research, recently announced a Series B-1 extension financing of $46 million to support its continuous market growth and expand the application of its technology into new areas of pharmaceutical research.
Building on XtalPi’s current momentum and success, the new financing will fuel the development of AI applications for critical steps of drug research and development, with an immediate focus on algorithmic tools that expand the searchable chemical space in drug discovery, achieve accurate predictions of key drug properties and help further accelerate and optimize later stages of drug development. In addition, XtalPi is poised to upgrade its Intelligent Digital Drug Discovery and Development (ID4) platform with industry-leading cloud computing power and data security in order to offer highly customized solutions to meet the particular needs of pharmaceutical companies.
“XtalPi has gained approval and endorsement from pharmaceutical clients as we continue to help them cut cost, time and risk in pharmaceutical research,” said Shuhao Wen, co-founder and chairman of the board at XtalPi. “For the next step, we want to open our base solution platform to support other developers of drug research and development algorithms. Through this, we will help global pharmaceutical companies connect with a wide range of the latest AI research tools in an easily accessible way, and thereby further improve the efficiency of drug discovery and development.”