Designing Better Drugs: Atomwise Lands $123M To Advance AI Drug Discovery

Atomwise, which is using artificial intelligence for small molecule drug discovery, received a cash infusion of $123 million in an oversubscribed Series B financing. San Francisco-based Atomwise touts being the creator of the first convolutional neural networks, or visual imagery, using AI technology for drug discovery, a market estimated to reach $40 billion in value by 2027, according to Fior Markets research. To date, Atomwise has provided AI technology to more than 750 academic research collaborations addressing over 600 disease targets, Abraham Heifets, co-founder and CEO told Crunchbase News. B Capital Group and Sanabil Investments led the investment that also included existing investors DCVC, BV, Tencent, Y Combinator, Dolby Ventures, AME Cloud Ventures, as well as two undisclosed insurance companies. This brings the total amount of capital raised, since Atomwise's inception in 2012, to almost $175 million.