Singapore-based physics-powered GenAI biotechnology company focused on ageing and chronic diseases, Gero, raised USD 6 million in Series A extension. The round took place on October 18, 2023. Cyprus-based VC firm dedicated to improving the quality of human lives by funding and supporting promising, potentially high-impact, machine-learning startups, Melnichek Investments led the financing for the company. Meanwhile, VitaDAO and Leonid Lozner also joined in the funding.
Purpose of financing for Gero
With the latest proceeds from the Series A extension, Gero seeks to continue internal drug development programs. It also has plans to grow its scientific team to boost platform technology development. In addition, it intends to expand its US presence.
What the company’s official has to comment
Peter Fedichev, Gero co-founder and CEO, said, “The large health model that we have trained is instrumental in the discovery of therapies targeting ageing and age-related diseases, both in-house and via collaborations with pharmaceutical companies. Thanks to this recent funding from Melnichek Investments, coupled with their expertise in modern AI through backing many successful companies, we are now well positioned to accelerate our progress.”
Besides, Gero co-founder Maxim Kholin said, “Our gratitude goes out to Melnichek Investments and our other investors for their continuous support. Having already made significant progress in fundamental research, we are now expanding towards resource-intensive drug development projects. As we look ahead, we anticipate a new funding round in the near future, and we invite potential investors to engage in early conversations with us.”
What the investors have to comment
Founder Yury Melnichek of Melnichek Investments saw great potential in Gero’s mission to gain new insights into the drivers of age-related diseases and develop new medicines that treat them. He said, “By targeting the underlying processes of ageing, Gero’s therapeutics have the potential to mitigate the burden of age-related illnesses and enhance the quality of life for individuals worldwide. Moreover, as populations age and healthcare costs escalate, Gero’s research and development efforts offer a ray of hope for more effective and sustainable healthcare solutions.”
In addition, Eleanor Davies, steward of the Longevity Science Working Group at VitaDAO, a participant in the round, said, “AI technology has become a powerful ally in the therapeutic design toolset. Age-related diseases are complicated to unravel, and advances will rely heavily on an understanding of extremely large data sets — far beyond the capabilities of human researchers. Gero’s work shows the importance of that realization and the solutions that are possible.”
About the company
Maxim Kholin and Peter Fedichev launched the company in 2015. GERO is a cutting-edge biotechnology company dedicated to the mission of curing age-related human diseases and understanding, slowing, and even halting the ageing process itself.
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