July 29, 2021 -- Deep Genomics has closed $180 million in series C financing to expand its artificial intelligence (AI) platform for programmable RNA therapeutics and to support the advancement of its candidates into the clinic.
The company has built a suite of predictive systems known as the AI workbench to decode vast amounts of data on RNA biology, identify novel targets for genetically defined diseases, and produce therapeutic programs.
Deep Genomics is working to advance its first 10 AI-discovered programs toward the clinic. The funding will help expand the AI workbench and scale its pipeline to 30 programs. The company will also aim to generate large-scale data across 100 genes to identify novel targets, mechanisms, and preclinical programs. It also plans to advance four programs to the clinic by 2023 and expand its clinical development capabilities.
The series C financing round was led by SoftBank Vision Fund 2 with participation from new investors Canadian Pension Plan Investment Board (CPP Investments), Fidelity Management & Research Company, and Alexandria Venture Investments, and existing investors Amplitude Ventures, Khosla Ventures, Magnetic Ventures, and True Ventures.