BioSimulytics, a University College Dublin (UCD) spin-out company, which is developing AI-powered software for drug researchers, announced that it has secured €595k in initial seed funding from a number of strategic angel investors and Enterprise Ireland.
This seed funding, BioSimulytics will enable to develop the workforce in Ireland and extend client base in the EU and US markets."
Company: BioSimulytics
Raised: €595.0K
Round: Seed Round
Funding Month: September 2021
Investors: strategic angel investors and Enterprise Ireland
Company Website: www.biosimulytics.ai
Software Category: novel software solution
About the Company: BioSimulytics has developed a novel software solution, using a powerful combination of AI, machine learning, computational chemistry, quantum physics, and high-performance computing (HPC), to drive smarter, faster, and more cost-effective R&D processes in the design and development of new drugs. The company's software enables the pharma industry to advance potential molecules to approved medicines quicker and with a much greater probability of success. BioSimulytics was founded in 2019 by Professor Niall English, Dr. Christian Burnham, and Peter Doyle as a spin-out from the UCD School of Chemical and Bioprocess Engineering following the completion of Enterprise Ireland Commercialisation Funding.
Source: https://www.news-medical.net/news/20210902/UCD-spin-out-company-secures-e282ac595k-in-seed-funding-to-advance-drug-development.aspx