Aqemia raises $38M to find new drugs by meshing theoretical physics with GenAI

Aqemia, a French startup that’s meshing “quantum-inspired physics” with machine studying to seek out new medicine, has raised $38 million in a contemporary spherical of funding led by San Francisco-based VC firm Cathay Innovation.

That is Aqemia’s second fundraise of the 12 months — it announced a €30 million ($31.5 million) elevate again in January — and it takes the corporate’s whole funding raised previous the $100 million mark.

Based in Paris by Maximilien Levesque and Emmanuelle Rolland-Martiano (pictured above) in 2019, Aqemia is considered one of numerous startups applying AI to drug discovery. In 2024 alone, we’ve seen the likes of Healx raise $47 million to sort out uncommon ailments; Sam Altman-backed Formation Bio raise $372 million; and Xaira emerge from stealth with a whopping $1 billion in funding.

Google DeepMind CEO Demis Hassabis and Director John Jumper, in the meantime, shared one-half of the Nobel Prize in chemistry for his or her work on Alphafold, an AI system that precisely predicts protein buildings — very important for drug discovery.

Aqemia, for its half, says it’s utilizing physics and statistical mechanics algorithms to coach a generative AI system, which then helps design potential drug candidates for “vital ailments.” The preliminary focus is on oncology (most cancers) and immuno-oncology (utilizing the physique’s immune system to battle most cancers).

The corporate says this strategy to coaching AI negates the necessity for experimental knowledge, which is dear and time-consuming, and as an alternative makes use of algorithms to primarily generate artificial knowledge to foretell the properties of potential drug molecules and the way they may work together with the goal.

London’s calling

It’s clear that AI-enabled drug discovery is a scorching area proper now, and Aqemia itself has already been making headway in business. Final December, the startup signed a multi-year settlement with French pharmaceutical large Sanofi, a deal that may very well be value as much as $140 million relying on the end result of sure R&D milestones.

With a contemporary $38 million within the financial institution, the corporate is now gearing as much as bolster its recruitment efforts. That features a new workplace in London that’s set to open in early 2025 — a transfer designed to present Aqemia “entry to the UK’s wealthy expertise pool,” in keeping with a press release. Having a worldwide VC agency like Cathay Innovation on board may additionally open the door to new markets.

“Lower than a 12 months after our final spherical, this profitable fundraising and the opening of our new London workplace mark important strides towards our ambition to speed up the invention of recent medicines on a worldwide scale,” Levesque stated in a press release. “Partnering with Cathay Innovation brings worldwide experience, significantly within the U.S. and Asia, reinforcing our imaginative and prescient and mission.”

Apart from lead backer Cathay Innovation, Aqemia’s newest spherical noticed participation from current buyers Wendel, Bpifrance Massive Enterprise, Eurazeo, and Elaia.