Paris, France-based company specializing in artificial intelligence for new drug discovery, Iktos, raised EUR 15.5 million in Series A funding. The Series A round took place on March 9, 2023. New investors such as M Ventures and Debiopharm Innovation Fund led the financing for the company. Omnes Capital joined in the funding.
Purpose of financing for Iktos
With the latest capital injection, Iktos seeks to further develop its AI and drug discovery capabilities. It also has plans to expand its existing SaaS software offering. Meanwhile, the company has plans to launch Iktos Robotics, a unique, end-to-end drug discovery platform which combines artificial intelligence and automation of chemical synthesis to significantly accelerate drug discovery timelines.
In addition, Iktos intends to extend the application of its solutions to biological products (peptides, antibodies, etc.). This allows Iktos to be one of the first companies to offer fully integrated drug discovery services to the pharmaceutical industry.
What the company’s official has to say
Yann Gaston-Mathé, President and co-founder of Iktos, said, “The search for new drug matter is still a laborious and uncertain quest of exploring a chemical universe composed of a virtually infinite number of potential molecules. The application of artificial intelligence to early drug discovery and design offers the possibility of a radical change for researchers exploring the such chemical universe. The technologies we have developed have been enabling multiple partners to realize this promise. We welcome our new, experienced investor syndicate and fresh financing. It allows us to to become the preferred partner for the industry to address their drug development needs.”
What the investors have to add
Dr Nadiya Ishnazarova of M Ventures, commenting on behalf of the syndicate, stated, “Shortening drug discovery cycle times and accelerating processes to clinical entry at lower cost is a high priority for the industry and clinicians alike. We believe Iktos, with its mature technology across generative AI and synthesis planning and advancements in building fully integrated drug discovery platform. It can potentially provide a competitive edge for the pharma industry as AI/ML becomes a core feature of R&D.”
Tanja Dowe, the CEO of Debiopharm Innovation Fund, further added, “We are very excited to collaborate with an impressive syndicate of strong investors M Ventures and Omnes Capital. Our aim is to support Iktos in executing on its plans to develop cutting-edge end-to-end AIDD capabilities.”
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