TLDR:
- Xaira Therapeutics, a new AI drug discovery company, has secured $1 billion in funding
- The company will combine machine learning, data generation, and therapeutic product development to revolutionize drug discovery
Article Summary:
Xaira Therapeutics, a new player in the biotech industry, has emerged with a massive $1 billion in committed funding, making it the largest initial funding commitment in ARCH Venture Partners’ history. The company, incubated by Arch Venture Partners and Foresite Labs, is led by Marc Tessier-Lavigne, former chief scientific officer at Genentech. Xaira aims to revolutionize drug discovery by leveraging machine learning, data generation, and therapeutic product development to create a platform that connects biological targets and engineered molecules to human diseases. The company was co-founded by David Baker, a professor at the University of Washington School of Medicine, and comprises a team of talented researchers with expertise in protein and antibody design. Xaira also includes technologies and personnel spun out of Illumina’s functional genomics R&D and a proteomics group from Interline Therapeutics.
Tessier-Lavigne, who recently resigned as the president of Stanford University following allegations of research misconduct in his lab, is optimistic about the potential of AI to transform drug discovery. The company will also have prominent industry veterans like former FDA Commissioner Scott Gottlieb and Nobel laureate Carolyn Bertozzi on its board. Xaira’s goal is to advance fundamental AI research and develop transformative new medicines by translating AI advancements into real-world applications.
