UK Biotech LabGenius Raises £35M to Advance Cancer Pipeline
LabGenius, a UK-based biotech company, has successfully secured £35 million ($44.5 million) in a Series B funding round. The influx of capital aims to fuel the expansion of its innovative antibody discovery platform and the development of promising cancer therapeutics.
Expansion Plans:
With the newly acquired funding, LabGenius intends to bolster its machine learning-powered drug discovery platform, known as EVA. This platform has already demonstrated its effectiveness in identifying potential drug candidates, as evidenced by LabGenius's collaboration with Sanofi in 2021 to uncover new therapies for inflammatory diseases.
Focus on Cancer Therapeutics:
LabGenius is directing its resources towards the development of treatments for solid tumors. By leveraging EVA's capabilities, the company aims to mitigate off-tumor toxicity, a common challenge in cancer therapy. This strategic approach underscores LabGenius's commitment to addressing unmet medical needs in oncology.
Potential Impact:
The advancement of LabGenius's antibody discovery platform holds significant promise for the field of cancer research and drug development. By harnessing the power of machine learning, the company seeks to expedite the identification and optimization of therapeutic candidates, potentially accelerating the path to clinical trials and commercialization.
Industry Recognition:
LabGenius's success in securing substantial funding reflects growing confidence in the potential of its innovative platform and pipeline. The Series B raise underscores the company's position as a leader in leveraging AI-driven technologies to revolutionize drug discovery and advance precision medicine.
