Turbine Raises €20 Million in Series A Financing to Advance Programs & Partnerships Towards the Clinic with World’s First Cancer Cell Simulation Platform
Summary
With over 60 experts across the globe and the support of investors like MSD Global Health Innovation Fund and Mercia Asset Management, were poised to demonstrate that simulations not only reveal new ways of treating cancer but increase the likelihood of success at every single step of the drug development process.Osborne Clark LLP provided legal advice to Turbine on the transaction. Paul Hastings LLP and Green Shoots Consulting advised the MSD Global Health Innovation Fund and Eversheds Sutherland acted for Mercia.Based in London, UK, with offices in Budapest, Hungary and Cambridge, UK, Turbine was founded in 2016 by Kristof Szalay, Ph.D., Daniel Veres, M.D., Ph.D., and Szabolcs Nagy to overcome the limitations of existing methods in identifying oncology treatments that truly benefit the patients who receive them by combining molecular biology and artificial intelligence (AI). These virtual cells are used for in silico experiments having never been run in lab, capturing patient biology better than available experimental models and testing more drug-like effects than current high throughput screening approaches. Turbine is now leveraging the Simulated Cell platform to develop its own stream of programs; expanding from an early focus on overcoming resistance to DNA Damage Response (DDR) inhibitors, the company is pursuing multiple high unmet oncology needs. Within the Life Sciences sector, Mercia supports innovations in biotechnology, digital healthcare and medical devices, which enable efficiencies and deliver material improvements in the standard of care.