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Chai Discovery raises $70M to build molecular discovery foundation AI models - SiliconANGLE
Chai Discovery raises $70M to build molecular discovery foundation AI models Chai Discovery, a company that builds frontier artificial intelligence models to predict and reprogram interactions between biochemical molecules, today announced it has raised $70 million to continue its mission to accelerate how scientists create therapeutic medicines. Menlo Ventures led the company's Series A round, which brings the total funding raised by Chai to $100 million. The round included investment from Menlo's Anthology Fund, a joint partnership with Anthropic PBC to identify and back promising AI companies, with additional participation from new investors Yosemite, DST Global Partners, SV Angel, Avenir, DCVC, and existing investors Thrive Capital, OpenAI, Dimension, Neo and others. Founded in 2024, the company develops and deploys foundation models for AI-driven drug discovery. Last month, the Chai team unveiled Chai-2, what the company calls a breakthrough AI model for zero-shot molecular design, achieving "unprecedented double-digit success rates when designing fully de novo antibodies." This means Chai-2 can design and program antibodies, the Y-shaped proteins produced by the body's immune system for defense against foreign objects like bacteria and viruses, more effectively than previous methods. When testing just 20 designs using Chai-2, the model routinely discovers viable hits across a multitude of targets, the company said, claiming a near 20% hit rate, making it a clear contender for rapid and precise atomic-level molecular engineering. In comparison, traditional laboratory methods must test millions of samples and billions of antibodies to find hits, and the previous computational analysis methods had a hit rate of only 0.1%. "Progress toward game-changing drugs and treatments is far too slow, stymied by costly trial-and-error experiments," said co-founder and Chief Executive Joshua Meier. "Chai Discovery exists to push the boundaries of what's possible in this field, applying frontier AI to transform biology from science to engineering, so that breakthroughs can be designed rather than simply discovered." Drug discovery is an industry where AI and AI models can have a significant impact, and many companies have emerged to capitalize on this opportunity. AI model developers and AI platform companies such as Alphabet Inc.'s Google DeepMind, Latent Labs Inc., Terray Theraputics and Synfini Inc. have put AI to use with protein, molecular and biochemical discovery for therapeutics across numerous domains. According to Chai, its models have already shown significant promise. The company intends to use the funding to develop its platform further, applying it towards formerly inaccessible targets and bringing on board more partners. "Before Chai-2, the process was not unlike searching a giant bunch of keys for the right fit for a lock -- but there are millions of keys," said co-founder Matthew McPartlon. "Now, it's like having a master locksmith design exactly the right shape key, based only on your description of the lock."
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OpenAI-Backed Biotech Startup Chai Discovery Raises $70 Million Led by Anthology | AIM
The startup will use the funds to advance its flagship AI platform, including its latest model, Chai‑2. AI-driven biotech startup Chai Discovery has secured $70 million in series A funding, elevating its valuation to approximately $550 million. The round was led by Menlo Ventures through its Anthology Fund -- a joint effort with Anthropic -- alongside new investors Yosemite, DST Global Partners, SV Angel, Avenir, DCVC, and contributions from returning backers Thrive Capital, OpenAI, Dimension, Neo, Lachy Groom, and Fred Ehrsam. https://twitter.com/joshim5/status/1953157471272616442 The startup will use the funds to advance its flagship AI platform, including its latest model, Chai‑2, which delivers fully de novo antibody design with a ~20% hit rate -- far above the ~0.1% success rate of traditional lab-based methods. Mikael Dolsten, former chief scientific officer at Pfize
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Chai Discovery, an AI-driven biotech startup, has raised $70 million in Series A funding to advance its AI platform for molecular discovery in drug development. The company's latest model, Chai-2, shows promising results in antibody design.
Chai Discovery, a frontier artificial intelligence company focused on molecular discovery, has successfully raised $70 million in a Series A funding round. This investment brings the company's total funding to $100 million and values it at approximately $550 million 12. The funding round was led by Menlo Ventures through its Anthology Fund, a joint initiative with Anthropic PBC, and saw participation from both new and existing investors 1.
Source: Analytics India Magazine
At the heart of Chai Discovery's breakthrough is its latest AI model, Chai-2. This model has demonstrated remarkable capabilities in zero-shot molecular design, particularly in the realm of antibody creation. Chai-2 has achieved a near 20% hit rate when designing fully de novo antibodies, a significant improvement over traditional laboratory methods and previous computational analysis techniques 1.
Joshua Meier, co-founder and CEO of Chai Discovery, emphasized the potential impact of their technology: "Chai Discovery exists to push the boundaries of what's possible in this field, applying frontier AI to transform biology from science to engineering, so that breakthroughs can be designed rather than simply discovered" 1.
Source: SiliconANGLE
The implications of Chai-2's capabilities are profound for the pharmaceutical industry. Traditional methods of antibody discovery involve testing millions of samples and billions of antibodies, with a hit rate of only 0.1%. In contrast, Chai-2 can routinely discover viable hits across multiple targets by testing just 20 designs 1.
Matthew McPartlon, co-founder of Chai Discovery, provided an analogy to illustrate the advancement: "Before Chai-2, the process was not unlike searching a giant bunch of keys for the right fit for a lock -- but there are millions of keys. Now, it's like having a master locksmith design exactly the right shape key, based only on your description of the lock" 1.
Chai Discovery is not alone in leveraging AI for drug discovery. Companies such as Google DeepMind, Latent Labs Inc., Terray Therapeutics, and Synfini Inc. are also applying AI to various aspects of protein, molecular, and biochemical discovery for therapeutics 1.
With the new funding, Chai Discovery plans to further develop its platform and expand its applications to formerly inaccessible targets. The company also aims to bring more partners on board, potentially accelerating the pace of drug discovery and development across the industry 1.
The substantial investment in Chai Discovery reflects growing confidence in AI's potential to transform the pharmaceutical industry. Mikael Dolsten, former chief scientific officer at Pfizer, highlighted the significance of Chai's approach: "Chai's platform has the potential to dramatically accelerate drug discovery and development, addressing some of the most challenging diseases facing humanity" 2.
As Chai Discovery continues to advance its AI models and expand its partnerships, the company is poised to play a significant role in shaping the future of drug discovery and development, potentially leading to faster and more efficient creation of therapeutic medicines.
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Analytics India Magazine
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