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Engine Biosciences, Singapore- and San Carlos, CA-based company deciphering complex biology to create medicines , raised $43m in Series A funding round.
The round was led by Polaris Partners qith participation from new investors Invus and one of the world’s premier institutional investors, based in Singapore, as well as existing investors 6 Dimensions Capital, WuXi AppTec, DHVC, EDBI, Baidu Ventures, Vectr Ventures, Goodman Capital, WI Harper, and Nest.Bio. Amy Schulman, Managing Partner at Polaris Partners, has joined the Engine Biosciences Board of Directors.
The company, which has now raised $53m to date, including $10m in a 2018 seed round, intends to use the funds to to expand its portfolio of precision oncology therapeutics, prepare for its first clinical programs, and scale its proprietary technology platform.
SG-based Engine Biosciences raises $43m Series A led by Polaris Partners
Jeffrey Lu, Co-Founder and CEO, Engine Biosciences.
May 26, 2021
Singapore and Silicon Valley-based biotech firm Engine Biosciences on Wednesday announced it has raised $43 million (S$57 million) in a Series A round led by US-based healthcare and technology investor Polaris Partners.
The round was joined by private equity firm Invus and an undisclosed institutional investor based in Singapore, the firm said in a statement.
Existing investors that participated in the financing include 6 Dimensions Capital, WuXi AppTec, DHVC, EDBI, Baidu Ventures, Vectr Ventures, Goodman Capital, WI Harper, and Nest.Bio.
Engine Biosciences was co-founded in 2015 by Massachusetts Institute of Technology professors Timothy Lu and James J Collins, University of California San Diego associate professor Prashant Mali, Mayo Clinic associate professor Hu Li, and entrepreneur Jeffrey Lu.
MedCity News
Engine Biosciences revs up $43M for AI tech that yields targeted cancer therapies
Engine Biosciences closed a $43 million Series A financing that the startup will apply to its artificial intelligence-based technology for drug discovery. The company analyzes genetic interactions, deciphering biology to find new cancer drugs.
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Drug discovery startup Engine Biosciences has leveraged its computational technology into potential new drugs for itself and its pharmaceutical partners. Now the company has $43 million in financing to continue that work as it looks ahead to its first clinical trials.
The Series A round of funding announced Wednesday was led by Polaris Partners.
Drug discovery is a large and growing field, encompassing both ambitious startups and billion-dollar Big Pharma incumbents. Engine Biosciences is one of the former, a Singaporean outfit with an expert founding crew and a different approach to the business of finding new therapeutics, and it just raised $43 million to keep growing. Digital drug discovery […]