BenevolentAI Grabs $115 Million to Advance its Drug Development Programs BioSpace

The use of artificial intelligence and machine learning in drug development has been ramping up and investors are taking keen notice of the growing trend. This morning London-based BenevolentAI snagged $115 million to give it a total of about $200 million in its coffers. BenevolentAI, which is applying artificial intelligence to develop new medicines for hard to treat diseases, said it will use the funds from the financing round to advance its artificial intelligence driven drug development programs. The company also said it will use the financing to broaden the disease areas on which it focuses, and extend its AI platform capabilities even further. Some of the proceeds from the financing round will be used to explore other science-based industries, including agriculture and energy storage, the company said.