Funding Update - Biotech GenAI Startups

• Cradle raises $73M Series B to advance AI-Powered Protein Engineering. The new funding will help accelerate three key areas for Cradle: Expand wet lab to further research into additional protein modalities/properties to improve foundational models. Grow engineering team to tackle more complex protein engineering challenges. Scale go-to-market and operations, to bring their platform to more scientific teams. Cradle

• Bluenote raises $10M for its Generative AI platform, that streamlines regulatory workflows for Life Sciences companies. Bluenote

GenAI Collab Update

Another month and another round of GenAI collaborations. Pharma and Biotech companies continue to partner with Generative AI companies.

• Gilead and Terray Therapeutics announce collaboration to discover and develop novel small molecule therapies. As part of the collaboration, Terray will leverage its tNova drug discovery platform to identify small molecule therapeutics against targets of interest. Gilead has exclusive option to develop and commercialize products from the collaboration. Gilead

• AQEMIA announces collaboration with Sanofi to accelerate the discovery of small molecules across various therapeutic areas, leveraging its unique Deep Physics platform combined with Generative AI. BusinessWire

• AI Proteins announces collaboration with Bristol Myers Squibb - BMS to discover and develop novel miniprotein-based therapeutics valued up to $400M. Under this collaboration, AI Proteins will leverage its AI-driven platform to design and optimize miniproteins against targets of interest to BMS. AI Proteins

1. Patsnap launches Hiro Life Sciences (LS), a generative AI assistant for accelerating drug discovery. At the core of Hiro LS sits PharmaGPT, Patsnap’s own pharma-trained LLM. Patsnap

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