Antiverse, a tech company that is designing antibodies for challenging targets, today announced it had added £3.5 million ($4.6 million) to its seed funding.
This funding will facilitate the company’s growth, including appointments to strengthen the team and continued development of its antibody design programs, many in partnership with pharmaceutical companies. And the latest funding round was led by i&i Biotech Fund I (i&i Bio) and Kadmos Capital, with additional investment from existing investors InnoSpark Ventures, UKI2S (managed by Future Planet Capital), Tensor Ventures, and AngelHub. This brings the total equity financing raised to £7.2 million ($10.1 million).
The funding will be used for expanding the company’s laboratory and machine learning teams, bolstering the development of its internal assets against G-protein-coupled receptors (GPCRs) and ion channels towards the clinic, as well as facilitating ongoing collaborations with pharma and biotech companies. This funding will also be used to improve the predictive accuracy of the design platform, focusing on curating training data. Lastly, Antiverse has opened new facilities in Boston, MA, and Prague, Czech Republic, demonstrating its expansion.
Antiverse utilizes a machine-learning-centred approach to design antibodies for challenging targets, helping to bring needed therapies to patients. The current version of the platform uses ‘target-specific libraries’. These libraries are designed by using structural and sequence data to generate a library with high confidence against the target. And this enhances the predictive accuracy compared to traditional antibody libraries, enabling Antiverse to design antibodies for many challenging targets, including GPCRs and ion channels. The platform accelerates the antibody discovery process to 6 months.
KEY QUOTES:
“A third of all FDA-approved drugs target GPCRs, yet, despite decades of research and billions of funding, only a few GPCR-targeting antibodies exist. Thanks to the support of our investors, we are one step closer to making GPCRs and other challenging targets druggable, bringing needed therapies to patients across the globe.”
-Murat Tunaboylu, Co-Founder and CEO of Antiverse
“Antiverse has made significant progress in the field of antibody design. Antiverse’s mission to make GPCRs druggable focuses on a key issue and we are pleased to be supporting them.”
-Jaromir Zahradka, CEO at i&i Bio
“Antiverse’s AI-driven antibody design platform demonstrates significant potential in advancing the development of novel antibody therapeutics, particularly for complex drug targets. We’re excited to support Murat and the team in their effort to significantly accelerate the development of life-saving treatments, and have a transformative impact on the pharmaceutical industry.”
-John Gebeily, Operating Partner at Kadmos Capital
