Boston, the U.S.A-based biotechnology company AI Proteins raised USD 18.2 million in recent funding. The oversubscribed seed round took place on November 3, 2022. Cobro Ventures and Lightchain Capital co-led the financing for the firm.
Purpose of financing for AI Proteins
With the latest funding from the seed round, the company aims to expand its operations.
It also has plans to expand its business reach.
What the AI Proteins founder has to say
AI Proteins founder, President, and CSO Dr Chris Bahl said, “After a decade in academia, de novo protein design is finally ready for prime time. With this technology, we will be able to bring next-generation therapeutics to the clinic faster.”
He further added, “With a high level of control, we can solve a lot of the problems that hold back current modalities and ultimately make medicines safer and more effective. We are no longer limited to tweaking a natural protein to do something it didn’t evolve to do. Our high-throughput platform is capable of producing molecules ready for pre-clinical studies at unprecedented speed—faster than we can test them. Partnering with others will help us realize the full potential of this platform and use it to bring as much good to the world as possible.”
What the investors have to add
In addition, Drew Dennison, AI Proteins CEO and Managing Director of Lightchain Capital said, “The AI Proteins platform is surrounded by all the right ingredients to drive success—a terrific and incredibly talented team, a dedicated group of investors with a deep commitment to the company, and an outstanding culture.”
Todd Kaloudis, Managing Director at Cobro Ventures, further said, “As pioneers in their field, AI Proteins is capable of capitalizing on major advances in computational and biological technologies to quickly create mini proteins tailor-made for many valuable applications. We are thrilled to support their mission.”
What the IPI Director has to say
Dr Rob Meijers, IPI’s Director of the Antibody Platform and Interim Executive Director, said, “Part of IPI’s purpose is to explore emerging protein technologies and support the next generation of protein engineers. Chris Bahl’s time at IPI, and the evolution of his team, exemplify the kind of discovery efforts that IPI will continue to advance.”
The exceptional facilities and scientific environment at the IPI enabled and supported Dr. Bahl to assemble and train his team of protein engineers. Besides training, it also led to testing the ideas for forming AI Proteins.
About the company
On Nov 1, 2021, founders Carl Novina, Chris Bahl, and Marc Cohen launched the company. AI Proteins re-imagines protein therapeutics with a novel approach for designing entirely new proteins. The company creates de novo proteins optimized for specific therapeutic applications by leveraging AI-based design and a high-throughput drug discovery platform.
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