AI-powered pharmatech firm XtalPi has announced a partnership with Singapore’s Experimental Drug Development Centre (EDDC), while medical equipment markers TowardPi Medical Technology and Innermed have raised funding.
XtalPi, EDDC to focus on non-small cell lung cancer treatments
AI-powered pharmatech firm XtalPi has partnered with the Experimental Drug Development Centre (EDDC), Singapore’s national platform for drug discovery and development, to discover novel treatments for non-small cell lung cancer, the firm announced on Tuesday.
The news comes at a time when major AI-powered drug discovery and pharmatech players are scaling up by inking similar partnership deals.
In November, XtalPi announced a strategic collaboration with Hong Kong-listed CK Life Sciences, the healthcare division of CK Hutchison Group, to develop a novel AI tumour vaccine R&D platform to improve the discovery and design capabilities of tumour vaccines and accelerate the development of more vaccine types.
Founded in 2014 by a group of quantum physicists from MIT, XtalPi’s key technology lies in its Intelligent Digital Drug Discovery and Development (ID4) platform, which combines physics-based simulations with experimental validation and refinement, automation for rapid synthesis, and machine learning to continuously improve prediction accuracy and process efficiency, with operations in both China and the US.
Sun Rock Capital leads TowardPi’s $43m Series C round
Ophthalmic equipment maker TowardPi Medical Technology has snapped 300 million yuan ($43 million) in a Series C round led by Sun Rock Capital, the firm announced on Tuesday.
Tao Capital and Kunlun Capital joined the round, while a joint venture set up by Shenzhen-listed Eyebright Medical Technology, Suzhou Qingfen Capital Management, and Insight Capital, which is TowardPi’s existing shareholder, re-upped.
Since its inception in October 2017, the firm has completed six financing rounds, with research centres located in Beijing and Shanghai. The firm innovates and sells its own ophthalmic equipment products such as optical biometer and surgical microscopes.
Previously, the firm snapped 200 million yuan in a Series B round in December 2021, led by Eyebright Medical Technology and Fosun Health Technology Group, a subsidiary of Shanghai Fosun Pharmaceutical Group.
Innermed notches $43m in Series D round
Innermed has bagged 300 million yuan ($43 million) in a Series D round led by Green Pine Capital Partners and Simiao Capital.
The round, joined by investors such as Cornerstone Venture Capital, Minsheng Securities, Dice Investment, and Longgang Financial Holding, will help the firm in R&D, product line, and market expansion, as well as ramping up hires, the firm said.
Founded in 2015, the firm provides solutions and products in early-cancer detection. Its core products include ultrasonic miniature probes, endoscopies, and other related equipment targeting diseases such as gastroenterology, pneumology, and cardiology.