Israeli startup CytoReason, which develops computational disease models for predictive insights, has secured $80 million in funding that will scale up its AI disease models and enable it to establish a hub in the United States.
The Tel-Aviv based startup was established in 2016. Its platform can help pharma companies and researchers find faster and more accurate routes to new drug targets for autoimmune diseases using computational disease models for predictive asset insights.
The company’s new funding is coming from NVIDIA, Pfizer, Thermo Fisher and OurCrowd. Pfizer and CytoReason first began collaborating back in 2019, when the pharma giant used the startup’s models for drug development.
According to CytoReason, the new funding is set to go toward expanding the application of its models into additional indications, growing its molecular and clinical data, and establishing an office in Cambridge, Massachusetts, later this year.
This, the company notes, will enable them to reach more biotech and pharma companies to increase the speed and accuracy of asset development across therapeutic areas, and thus to benefit more patients worldwide.
“CytoReason is grateful for this infusion of new capital from industry technology powerhouses such as NVIDIA, Pfizer, and Thermo Fisher,” says CytoReason CEO and co-founder David Harel.
“The world understands that data alone is not enough, and that the future of data-driven insights is in data modelling. CytoReason is at the forefront of this revolution in pharma R&D.”
“We’re thrilled to see yet another Israeli company leading the way in healthcare’s AI revolution,” adds OurCrowd CEO John Medved. “CytoReason’s strategic partnership with NVIDIA only emphasises this point. I’m convinced that the involvement of leading asset managers and critical strategic partners in this funding round will further propel CytoReason’s journey.”
