Genesis Therapeutics raises $4.1M to ramp up drug development
Genesis Therapeutics, a San Francisco-based biotech company focused on AI technology, announced it has raised $4.1 million in seed funding. The funds are expected to go toward recruiting new software engineers, AI engineers and scientists, according to a prepared statement.
The company’s goal is to help develop drugs that could improve care for patients with severe health issues. Genesis Therapeutics first began at Stanford University, where founder and CEO Evan Feinberg, PhD, was researching advancements in AI.
“We spun Genesis out of Stanford so we could ambitiously expand our portfolio of cutting-edge AI technologies and recruit industry leaders in drug development to create the next generation of therapies for patients with severe medical conditions and unmet medical needs,” Feinberg said in the statement. “By continuously innovating in deep learning and forming a tight feedback loop between our software engineers and proven drug developers, we can, with greater rapidity, discover more potent, selective, and bioavailable small molecule therapies.”
Andreessen Horowitz led the funding round, and Felicis Ventures was “a major investor.”
“We chose Genesis as our bet in this nascent space because of our firm‘s conviction in the team’s rigorous science, continued innovation, and incredible track record of its leadership and founding board,” Vijay Pande, PhD, general partner at Andreessen Horowitz, said in the statement. “Between their internal programs and being poised as a unique partner for biopharma companies looking to optimize the outcomes of their pipeline, we are excited to see the impact Genesis will have in patient care over the coming decades.”
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.