Source Code And DCM Co-lead New Round In Chinese AI Pharmaceutical Firm Galixir
Summary
China’s AI drug research and development platform Galixir has secured nearly US$10 million in a Pre-A round financing co-led by Source Code Capital and DCM. Founded in 2019, Galixir is a solution provider that supports the research and development of new drugs based on AI technology. “China’s innovative drug development is in a golden age, and new technologies are the key to breakthroughs,” said Huang Yungang, partner at Source Code Capital. “In recent years, the importance of data science in drug development is rapidly increasing, especially after the intervention of machine learning technology. The combination of data and algorithms has achieved encouraging results in the modeling and analysis of some complex problems; In turn, it will further promote the production of massive data and the iteration of algorithms, and significantly change the methodology of drug development.” Zeng Zhenyu, managing partner of DCM China: Drug R&D is a field that is very suitable for AI to create value.