OneThree Biotech, a biology-driven artificial intelligence platform that optimizes drug discovery and development, closed a $2.5 million seed funding round.
The funding round was co-led by Primary Venture Partners and Meridian Street Capital, an early-stage investor with a deep focus on healthcare.
Previously OneThree Biotech had raised pre-seed funding through Cornell Tech’s Runway Startup Postdoc program.
The company plans to use the seed funds to scale and build out its AI-powered drug discovery and development platform’s back-end infrastructure and further validate the technology through partnerships with biotech and pharma.
“In early drug development understanding, the biology driving a prediction is often times more important than the prediction itself. However, when we took a look at existing AI platforms being used for drug discovery, we found that most were only answering the ‘what’ without any insight into the ‘why.’ This is why we built OneThree,” said Neel Madhukar, CEO & Co-founder, OneThree Biotech.
“We’re incredibly grateful for the support of our investors and partners as we push forward and show we can use biology-driven AI to redesign the drug discovery process. So far, we’ve seen how the approaches we’ve developed can help us understand complex biology and get drugs developed faster and more cost-effectively. The funding, intellectual capital, and connections our investors provide to OneThree Biotech will empower us to build upon these initial successes.”