TLDR:
- LabGenius, a London-based drug discovery company, raised £35M in Series B funding led by M Ventures.
- The company plans to use the funds to further develop its machine learning-driven drug discovery platform and progress a pipeline of multispecific antibodies for solid tumor treatment.
LabGenius, a London-based drug discovery company, has secured £35M in Series B funding led by M Ventures, the corporate venture capital arm of Merck. Additional new investors in this round include Octopus Ventures and LG Corp, alongside existing investors such as Atomico, Kindred Capital, Lux Capital, and Obvious Ventures. This funding brings LabGenius’ total funding to £58M. The company is focused on developing its proprietary machine learning (ML)-driven drug discovery platform known as EVA™, which facilitates the rapid identification of biotherapeutics. The funds will also be used to advance a pipeline of multispecific antibodies for the treatment of solid tumors towards clinical trials.
LabGenius is led by CEO Dr. James Field and operates under a hybrid business model, partnering with large biotech and pharmaceutical companies while also pursuing its own therapeutic pipeline. The company’s new Board of Directors now includes Oliver Hardick and Oliver Sims alongside existing Directors Irina Haivas, Leila Zegna, James Field, and Edwin Moses. This latest funding round will enable LabGenius to continue driving advancements in drug discovery and potentially bring new treatments to the market for patients in need.
