Boston-based drug developer DeepCure announced Monday it raised $40 million in fresh funding. The Series A round was led by Morningside Venture, and makes up a lion’s share of the $47 million in funding the three-year-old startup has pulled in this far.
Put simply, DeepCure’s AI-enabled drug discovery platform is being used to create better molecules and faster cures across several therapeutic areas. The goal is to develop medications for conditions that are ordinarily considered “undruggable” or “impossible” due to their complexity.
Now, with $40 million of fresh capital in its coffers, DeepCure is expanding into five additional oncology programs, as well as developing an “automated robotic wet lab” to fulfill its mission of building what co-founder and CEO Kfir Schreiber describes as an “end-to-end drug discovery pipeline designed, optimized, synthesized and analyzed by AI.”
“We have made tremendous progress since founding DeepCure a few years ago, and this financing reflects strong support for our technology platform, people, strategy, and most importantly, our mission to accelerate the discovery and novel targets and therapies which were previously undruggable,” Schreiber said in a statement.
The funding will also be used to double its headcount in the next year, which includes a global expansion with the launch of two new sites in Greece and Israel.
