Generate Biomedicines Announces First External Equity Raise of $370 Million to Advance Its Drug Generation Platform
Summary
This represents a remarkable leap forward in the field of protein therapeutics.” “The leaps made in machine learning and computing power are ushering in a new era of drug generation – no longer will we be dependent on traditional approaches to drug discovery,” said Noubar Afeyan, Ph.D., Co-Founder and Chairman of the Board of Generate Biomedicines and CEO of Flagship Pioneering. The company’s machine learning algorithms analyze hundreds of millions of known proteins, looking for statistical patterns linking amino acid sequence, structure, and function. Generative Biology will enable therapeutic achievements never before possible, creating entirely new ways to treat all types of diseases, drastically increase the success rate, and reduce the time required for drug discovery. The company’s multimodality Generative Biology platform represents a potentially fundamental shift in what’s possible in the field of therapeutic development, addressing key challenges of drug discovery and drastically expanding the available search space for novel biomedicines. Since its launch in 2000, the firm has, through its Flagship Labs unit, applied its unique hypothesis-driven innovation process to originate and foster more than 100 scientific ventures, resulting in more than $200 billion in aggregate value.