California’s – Pragma Bio, the tech-enabled platform for drug discovery previously known as VastBiome, announced it has raised an additional USD 10 million in equity to continue developing its proprietary methods in artificial intelligence, genomic sequencing and synthetic biology to discover biomarkers and novel therapeutics to treat immunologic disorders.
Investors Viking Global Investors, the Merck Global Health Innovation Fund, and CJ Investments participated in the round-headed by The Venture Collective (Korean-based strategic investor). The company’s total venture funding with this round is USD 15 million.
Pragma Bio uses patient data to investigate the relationship between the immune system and the body’s natural chemistry to find new treatments. The additional capital will enable the business to scale operations, accelerate product development, and add new team members to support Pragma Bio’s expansion.
The financing boost, according to Pragma Bio CEO Kareem Barghouti, “reflects our mission of revealing the symbiotic link between nature and the human body, enabling us to produce natural medications that encourage our well-being.” “The involvement of renowned healthcare investors confirms our methodology, intended to identify daily medications created naturally within our bodies. He continued that Pragma Bio will provide the better solutions that patients are seeking.
Pragma Bio developed a hypothesis-generating discovery engine called Lattice. It archives and sorts through innumerable interactions and correlations between natural compounds and human cells connected to clinical outcomes. Next, using cutting-edge technology, biologically relevant microbial genes are modified and transported to the lab to manufacture and manifest a variety of enzymes and natural chemicals. The business has made significant progress toward scalable enzyme expression and discovering immuno-oncology biomarkers. Pragma Bio has partnered with world authorities in academia and pharmaceuticals. Moreover, Pragma Bio has assembled a group of accomplished drug scouts that have successfully created over $30 billion in exits and launched medications.
The Venture Collective’s founding partner, Nick Shekerdemian, stated, “We sincerely feel that the natural world has so much potential for treating diseases for which there are few effective therapy choices. To better patients’ lives globally, we are thrilled to collaborate with the exceptional Pragma team to close the gap between natural goods and thoughtfully developed therapies.
“GHIF made its inaugural investment in Pragma Bio in 2020 out of our Next Horizon investment area, which focuses on groundbreaking technology,” stated Prem Tumkosit, Managing Director of the Merck Global Health Innovation Fund (GHIF). We’re happy to continue supporting Pragma Bio in this fundraising, they continued.
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