LabGenius , a London-based startup applying AI and “robotic automation” to protein drug discovery, has raised $10 million in Series A funding. The round is led by Lux Capital and Obvious Ventures, with participation from Felicis Ventures, Inovia Capital, Air Street Capital and existing investors. Lux Capital’s Zavain Dar and Obvious Ventures’ Nan Li will join the LabGenius board of directors. “My central thesis, the thing thatâ€™s really is the driving force behind the company, is the conviction that weâ€™re entering an age in which humans will no longer be the sole agents of innovation.
Instead, new knowledge, technologies and sophisticated real-world products will be invented by smart robotic platforms called empirical computation engines. An empirical computation engine is an artificial system capable of recursively and intelligently searching a solution space”. LabGenius’ flagship technology is called “EVA,” which Field describes as a “machine learning-driven, robotic platform” capable of evolving new proteins. “As a smart robotic platform, EVA is capable of designing, conducting, and critically learning from its own experiments,” he says.
The rapid pace of technological development across the fields of synthetic biology, robotic automation, and ML has given us access to all the essential ingredients required to create a smart robotic platform capable of intelligently discovering novel therapeutic proteins”. One on-going project is with Tillotts Pharma AG to identify and develop new drug candidates for the treatment of inflammatory bowel disease . “Our business model is pretty simple,” says the LabGenius founder. “We use EVA to discover and characterise new drug molecules and then partner with pharma companies who can take these molecules to market.
Meanwhile, LabGenius will use the capital to scale its team, expand the scope of its discovery platform, and initiate an “internal asset development program”.
Click here to read the full article