AQEMIA, a Paris-based MedTech enterprise that leverages generative artificial intelligence to facilitate atomic-scale drug discovery, is set to establish a presence in the United Kingdom. The company has secured over $100 million in funding, with the latest infusion of $38 million coming from various investors led by Cathay Innovation. This funding round comes less than a year after their previous financial boost.
The firm has announced plans to open an office in the King’s Cross area of London in January 2025. This expansion follows successful validation of AQEMIA's drug discovery platform through internal preclinical programmes and various partnerships with pharmaceutical companies, particularly in the field of oncology. Notably, AQEMIA has entered into a significant collaboration with Sanofi, valued at $140 million, which was revealed in December 2023.
The recent financial backing will facilitate AQEMIA's developmental objectives, which include preparations for clinical trials and a broader global expansion. Maximilien Levesque, CEO and co-founder of AQEMIA, emphasised the importance of this moment for the company. “Less than a year after our last round, this successful fundraising and the opening of our new London office mark significant strides toward our ambition to accelerate the discovery of new medicines on a global scale,” he stated.
Levesque further noted that partnering with Cathay Innovation would provide valuable international expertise, particularly in the US and Asia, which reinforces AQEMIA's vision and mission. He highlighted the potential for this momentum to lead the company towards clinical trials, moving closer to delivering transformative treatments for patients.
Cathay Innovation’s partner, Jacky Abitbol, expressed a commitment to supporting innovative entrepreneurs who are utilising AI's transformative capabilities to reinvent the healthcare landscape. “AQEMIA embodies the future of drug discovery, combining the power of AI with quantum mechanics,” he said. Abitbol asserted that the partnership extends beyond just capital investment, as Cathay Innovation aims to leverage its experience in scaling AI-driven companies, particularly in the US and Asia, to support AQEMIA as it progresses towards clinical trials and aims for a broader global impact.
In addition to Cathay Innovation, historical investors such as Wendel, Bpifrance Large Venture, Eurazeo, and Elaia also participated in the funding round, further underscoring the confidence in AQEMIA's innovative approach to drug discovery.
Source: Noah Wire Services