202111 Jan
EQRx Scales Disruptive Model of Important New Medicines at Lower Prices with $500M Series B Financing
Type
Funding Rounds
Funding
202111 Jan
$500MSeries B
Source
Businesswire
Summary

CAMBRIDGE, Mass.--(BUSINESS WIRE)--EQRx, a company committed to developing and delivering important new medicines at lower prices, today announced that it has raised $500 million in Series B financing. Since launching a year ago, EQRx has raised approximately $750 million to advance its mission of bringing new medicines to treat life-threatening and chronic diseases to patients and healthcare systems around the world at prices that are a fraction of the cost of today’s leading therapies. By leveraging proven druggable targets and a relentless focus on efficiency, together with deep strategic partnerships with health systems and payers, EQRx anticipates a higher probability of regulatory success, a lower risk-adjusted cost of drug development and a more streamlined access model. The Company estimates that its broad pipeline of innovative therapies has the potential to save the U.S. healthcare system between 50-70% of its current drug spend across the respective therapeutic areas. “Our shared goal is to enable effortless prescribing for providers and equal access to important new medicines for people by eliminating barriers, especially high drug costs.

Classifications
  • HealthTech