Series A-1 financing will advance programs in immunology and inflammation, and expand AI and automation capabilities for small molecule drug discovery
DeepCure, a leader in developing novel, small molecule therapeutics powered by AI and automation of chemistry, announced today the closing of a $24.6 million Series A-1 financing led by IAG Capital Partners (IAG) with participation from the company’s current investors. DeepCure has raised more than $72 million in financing since its inception.
“IAG Capital Partners is widely recognized for its deep understanding of technology and identifying innovations that can have the most impact,” said Kfir Schreiber, CEO and Co-Founder, DeepCure. “Our team will benefit from their broad experience, and we are excited to have Dr. Ehsan Jabbarzadeh join our Board of Directors. We also value the continued support of our existing investors.”
DeepCure has built a generative AI and physics-based engine to innovate the discovery of small molecule therapies for challenging targets. The engine can map potential interaction sites on the surface of proteins, and design novel, synthesizable molecules with lead-like properties. Additionally, DeepCure has developed the world’s most advanced automated chemistry synthesis platform to increase the speed, number, and diversity of molecules that are tested.
“DeepCure has achieved technical breakthroughs in AI and chemistry synthesis automation that overcome critical barriers for small molecule discovery,” said Dr. Jabbarzadeh, Venture Partner at IAG. “These breakthroughs are pivotal to drugging a huge number of intractable targets that are known to have a central role in disease biology,” said Alex Kash, Associate at IAG Capital Partners and board observer.
Proceeds from the Series A-1 financing will be used to further develop DeepCure’s cutting-edge technology, and to advance its immunology and inflammation pipeline towards clinical trials.
“These additional proceeds will allow us to accelerate our pace, advancing DeepCure’s pipeline of first-in-class and best-in-class inflammation and immunology programs toward the clinic," said Jason Dinges, Morningside Technology Advisory and DeepCure board member. “The programs are especially exciting to us because we see opportunities to address the unmet needs for large numbers of patients.”
About IAG
IAG Capital Partners is a private investment group based in Charleston, South Carolina. The firm seeks investments in early-stage companies and partners with innovative leaders to build companies that will impact our lives and the world.
About DeepCure
DeepCure was founded by researchers at MIT to accelerate breakthrough therapies using artificial intelligence (AI) and AI-enabling technologies to innovate small molecule discovery. The company is based in Boston, MA, and its engineers, chemists, and biologists collaborate on hard problems to find solutions that will have an enormous impact on patient health. For more information, visit www.deepcure.ai.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240411173088/en/
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