Verge Genomics receives $32 million financing to accelerate drug discovery

| By | AI, Drug Development, Investments

Verge Genomics (San Francisco, USA) a drug discovery company utilizing machine learning to develop new therapeutics, announced that it has raised $32 million in Series A financing.

The oversubscribed round brings Verge’s total funding raised to-date to more than $36 million. WuXi AppTec’s Corporate Venture Fund is among the new biotech investors. WuXi AppTec is a leading global pharmaceutical and medical device open-access capability and technology platform company with global operations.

“Verge has built one of the most comprehensive datasets that we have worked with for disease understanding, machine learning, and artificial intelligence. Importantly, Verge’s integrated approach to drug development aligns patient data with animal models to ensure the use of appropriate translational research,” said Mr. Edward Hu, Chief Financial Officer and Chief Investment Officer of WuXi AppTec. “With our investment in Verge, we continue to strategically build multiple relationships in the area of artificial intelligence and machine learning applying to drug discovery.”

Verge Genomics is using human genomics to accelerate drug discovery. Founded by scientists from leading genomics labs and pharmaceutical veterans, the Verge team is 14 people including 10 Ph.D.s with expertise in machine learning, neuroscience, drug development, applied math, biophysics, and statistics.

Earlier this year, Verge Genomics announced the launch of a groundbreaking initiative to sequence genes expressed in the brains of Parkinson’s patients at a single cell resolution, generating the first dataset of its kind in the field. The industry-academic consortium led by Verge was formed in partnership with the University of California San Diego (USA) and VIB, the life sciences research institute, in Flanders (Belgium).

SOURCE: businesswire
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