New York, the U.S-based therapeutics company Harmonic Discovery raised USD 8 million in recent funding. The seed round took place on September 8, 2022. Innovation Endeavors led the financing for the firm. Fifty Years, Y Combinator, Boom Capital, and Caffeinated Capital also joined in the investment. Meanwhile, angel investors. Dr Joel Dudley, PhD, Partner at Innovation Endeavors, intends to serve as a new Board Member.
Purpose of funding for Harmonic Discovery
With the latest capital investment, the company intends to expand its drug discovery platform and pipeline.
It also seeks to expand its leadership team. Meanwhile, Harmonic Discovery has plans to build proprietary chemical libraries. Further, the firm aims to scale its laboratory operations.
What the co-founder has to say
Rayees Rahman, PhD, Harmonic Discovery’s CEO and Co-Founder, said, “There is an enormous opportunity to create safer and more effective drugs. We passionately believe that our unified approach to kinase drug discovery will be the first step in unlocking completely new ways to treat diseases. We’re thrilled to have Joel and the team at Innovation Endeavors on board to help us embrace our vision for the future of therapeutics.”
What the investor has to say
Joel Dudley, PhD and Partner at Innovation Endeavors, said, “The co-founders at Harmonic Discovery have exceptional and complementary expertise across machine learning, medicinal chemistry and biotechnology business development to address the untapped potential of kinase drugs. The strength of their computational platform and methodology is a breakthrough in the industry. Their machine learning models and computational approaches are extremely precise and have been validated experimentally.”
Previously, Dr Dudley served as the Chief Scientific Officer at Tempus. He also held the position of Associate Professor of Genetics and Genomic Sciences at the Icahn School of Medicine at Mount Sinai.
About the company
Rayees Rahman, PhD, Jason Lee, MD, and Marcel Patek, PhD launched Harmonic Discovery in 2021. The U.S-based company serves as a therapeutics company. It is building an integrated computational and experimental platform for kinase drug discovery and targeted polypharmacology. It leverages a machine learning-first infrastructure that combines several aspects of kinase drug discovery. The firm uses multiple layers of kinase biology to design safer and more effective kinase therapeutics. Harmonic Discovery believes it can develop novel therapies across diseases such as cancer and autoimmune disorders. In order to achieve this, the company intends to leverage its knowledge across several disciplines, such as biology, cheminformatics, medicinal chemistry, and machine learning.
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