CytoReason Secures $80M from OurCrowd, NVIDIA, Pfizer, and Thermo Fisher Scientific to Scale Its AI Disease Models and Establish US Hub in Cambridge, Massachusetts
17 Julio 2024 - 10:57AM
Business Wire
New funding will expand CytoReason’s disease models and
proprietary data, enabling R&D leaders at partner companies to
make strategic decisions with greater speed and precision.
CytoReason, a leader in developing computational disease models
for predictive insights, announced today it secured an aggregated
$80 million from OurCrowd, NVIDIA (Nasdaq: NVDA), Pfizer (NYSE:
PFE), and Thermo Fisher Scientific (NYSE: TMO).
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CytoReason is a tech company transforming
biopharma’s decision-making from trial and error to data-driven,
using computational disease models for predictive asset insights.
Therapeutic area leaders, research teams, and scientists of all
levels rely on CytoReason’s technology to increase the speed and
accuracy of R&D decisions (Photo: Business Wire)
CytoReason will use this investment to expand the application of
its models into additional indications, grow its proprietary
molecular and clinical data, and establish an office in Cambridge,
Massachusetts later this year.
Reduced R&D timelines and improved probability of technical
and regulatory success (PTRS) are top priorities across life
sciences companies. Speed, safety, and accuracy are critical when
making asset-related R&D decisions. CytoReason provides
therapeutic area leaders with molecular-level insights and valuable
AI tools to make data-driven decisions, helping them improve the
probability of phase 2 success and optimize their R&D
portfolio.
Since the company announced the expansion of its Pfizer
partnership in 2022, CytoReason has added three major pharma
partnerships, expanded its coverage of disease models to central
nervous system (CNS)-related diseases, and partnered with leading
data organizations.
CytoReason’s technology and scientific breakthroughs are
regularly published in top-tier journals such as Nature, Cell, and
Gut. In 2023 alone, CytoReason’s scientists published 20
peer-reviewed articles in 16 journals, demonstrating the scientific
throughput of the company’s team and technology.
Six of the world’s top ten pharma companies use CytoReason’s
technology to make data-driven decisions in immunology,
inflammation, immuno-oncology, metabolism, and other therapeutic
areas.
David Harel, Co-founder and CEO of CytoReason, said:
“CytoReason is grateful for this infusion of new capital from
industry technology powerhouses such as NVIDIA, Pfizer, and Thermo
Fisher. The world understands that data alone is not enough, and
that the future of data-driven insights is in data modeling.
CytoReason is at the forefront of this revolution in pharma
R&D.”
Kimberly Powell, Vice President and General Manager,
Healthcare at NVIDIA, said: “Over the last year, CytoReason has
strengthened its platforms using NVIDIA’s latest accelerated
computing and AI platforms, achieving more than 10x acceleration
for inference workloads. Our continued collaboration with
CytoReason will help enable more life sciences companies to benefit
from CytoReason’s predictive clinical insights.”
Mikael Dolsten, Chief Scientific Officer and President,
Worldwide Research, Development and Medical at Pfizer, said:
“The rapid expansion of new technologies, like artificial
intelligence, holds tremendous potential to help transform what is
possible in human health. Our collaboration with CytoReason
leverages its cutting-edge immunology multiomics platform to
augment Pfizer’s own R&D capabilities and generate invaluable
insights into new drug development pathways for patients. We’re
pleased to see the company’s recent growth and look forward to our
continued work together.”
Bhooshi De Silva, Head of Strategic Capital at Thermo Fisher
Scientific, commented on the strategic investment: "Our
investment in CytoReason underscores the significant potential of
computational disease models to revolutionize data usage in pharma
R&D. By combining Thermo Fisher’s vast data repositories and
proven life sciences expertise with CytoReason’s AI technology, we
aim to push the boundaries of what is possible in personalized
healthcare.”
Jon Medved, CEO of OurCrowd said: "We're thrilled to see
yet another Israeli company leading the way in healthcare's AI
revolution. CytoReason’s strategic partnership with NVIDIA only
emphasizes this point. I’m convinced that the involvement of
leading asset managers and critical strategic partners in this
funding round will further propel CytoReason's journey."
CytoReason is excited to use this new funding to accelerate its
growth and further cement its position in the market. This will
enable more pharma and biotech companies to increase the speed and
accuracy of asset development across therapeutic areas to benefit
more patients worldwide.
Bank Hapoalim provided structured financing through its Tech
Sector, Business Banking Division. Nomura International Plc and
Locust Walk advised the company in the transaction.
About CytoReason
CytoReason is a tech company transforming biopharma’s
decision-making from trial and error to data-driven, using
computational disease models for predictive asset insights.
Therapeutic area leaders, research teams, and scientists of all
levels rely on CytoReason’s technology to increase the speed and
accuracy of R&D decisions. For example, scientists can
prioritize potential targets and indications, and stratify patient
populations. Program leaders can compare drugs across multiple
diseases or multiple drugs within a single disease. C-level
executives can gain valuable insights by comparing their R&D
portfolios to treatment alternatives. Learn more at
www.cytoreason.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240717912688/en/
CytoReason Media Contact Zeev Ben Shachar
zeev.benshachar@cytoreason.com