CytoReason Secures $80 Million to Advance AI Disease Models
Technology-driven biotech startup CytoReason, a developer of computational disease models, has raised $80 million from a consortium of investors, including OurCrowd, NVIDIA, Pfizer, and Thermo Fisher. This funding round also included credit from Bank Hapoalim, which provided interim financing until the new investments were secured. To date, CytoReason has accumulated over $130 million in funding.
CytoReason's innovative platform provides therapeutic area leaders with molecular-level insights and AI tools, enabling them to make data-driven decisions that can enhance the probability of phase 2 clinical trial success and optimize R&D portfolios. The company's strategic collaboration with Pfizer has already generated over $100 million in revenue, with Pfizer being a repeat investor. This funding round marks NVIDIA's inaugural investment in CytoReason.
The new investment will be utilized to broaden the application of CytoReason's disease models to additional therapeutic areas, expand its proprietary molecular and clinical database, and establish a representative office in Cambridge, Massachusetts, later this year. Currently, CytoReason employs 130 individuals, with 120 based in Israel.
In recent years, the need for reduced R&D timelines and improved probability of technical and regulatory success (PTRS) has become a priority in the life sciences industry. CytoReason's technology addresses these needs by providing precise molecular insights and valuable AI tools, facilitating faster and more accurate asset-related R&D decisions.
Since expanding its partnership with Pfizer in 2022, CytoReason has secured three additional major pharmaceutical partnerships, expanded its disease model coverage to include central nervous system (CNS)-related diseases, and collaborated with leading data organizations.
David Harel, co-founder and CEO of CytoReason, emphasized the importance of data modeling in the future of pharma R&D, stating,
"The world understands that data alone is not enough, and that the future of data-driven insights is in data modeling. CytoReason is at the forefront of this revolution in pharma R&D."
With the latest funding, CytoReason aims to accelerate its growth and solidify its market position, enabling more pharmaceutical and biotech companies to enhance the speed and accuracy of asset development across various therapeutic areas, ultimately benefiting more patients worldwide.
Topics: Startups & Deals
