- CytoReason has secured $80 million investment from OurCrowd, Nvidia, Pfizer, and Thermo Fisher Scientific.
- CytoReason says it will use the new funds to expand application of its models into additional indications, grow its proprietary molecular and clinical data, and set up an office in Cambridge, Massachusetts later this year.
OUR TAKE
“Over the last year, CytoReason has strengthened its platforms using Nvidia’s latest accelerated computing and AI platforms, achieving more than 10x acceleration for inference workloads,” said Kimberly Powell, vice president and general manager of healthcare at Nvidia. “Our continued collaboration with CytoReason will help enable more life sciences companies to benefit from CytoReason’s predictive clinical insights.”
–Vicky Wu, BTW reporter
What happened
CytoReason, an Israeli technology startup specialising in the application of AI for developing disease models, revealed that it has successfully raised $80 million in a private financing round aimed at expanding its AI-enabled drug discovery capabilities. The funding round was spearheaded by prominent players in the industry, including Nvidia and Pfizer, with contributions also coming from Thermo Fisher and the venture capital firm OurCrowd.
The newly acquired capital will be channeled into amplifying CytoReason’s AI-driven disease models, extending their reach into novel therapeutic domains and enriching its database of proprietary molecular and clinical information. The company has ambitious plans to establish a new operational hub in Cambridge, Massachusetts, scheduled for later this year.
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Why it’s important
CytoReason is dedicated to empowering leaders in therapeutic areas with deep molecular insights and advanced AI technologies, facilitating data-informed decision-making. This assistance contributes to enhancing the likelihood of success in Phase 2 clinical trials and optimising the R&D portfolios of its clients. Building upon the announcement of an expanded collaboration with Pfizer in 2022, CytoReason has since entered into partnerships with three additional major pharmaceutical enterprises. The company has diversified its disease model coverage to include conditions affecting the central nervous system (CNS) and has formed alliances with top-tier data organisations. Remarkably, six out of the top ten global pharmaceutical companies currently employ CytoReason’s technology to inform their data-driven strategies across various therapeutic fields, such as immunology, inflammation, immuno-oncology, metabolism, and more.
“The rapid expansion of new technologies, like artificial intelligence, holds tremendous potential to help transform what is possible in human health,” Mikael Dolsten, chief scientific officer and president of worldwide research, development and medical at Pfizer, said in a statement. “Our collaboration with CytoReason leverages its cutting-edge immunology multiomics platform to augment Pfizer’s own R&D capabilities and generate invaluable insights into new drug development pathways for patients.”
