Causaly, an AI platform for biomedical research, has closed a £46 million round of Series B funding.
Developing a new drug is an arduous process that typically spans over a decade, involving extensive research, development and rigorous clinical trials. There is real urgency to expedite this process for the most complex and unsolved diseases of our age, such as Parkinson’s, lung cancer or multiple sclerosis.
Causaly’s AI solution is specifically designed to untangle this complexity, empowering scientists to deeply understand the underlying disease biology.
The funding into London-based Causaly was led by ICONIQ Growth, with participation from Index Ventures, Marathon Venture Capital, EBRD, Pentech Ventures and Visionaries Club. Strategic individuals also participated in the round, including Alex Gorsky (former chairman and CEO of Johnson & Johnson) and Olivier Pomel (CEO and co-founder of Datadog).
The latest round comes after the company recently tripled revenue and customers. It now serves 12 of the top 20 pharma companies.
“Recent advances in AI open completely new possibilities, and there is a great need for transparent AI systems that science leaders can trust,” said Yiannis Kiachopoulos, co-founder and CEO.
“Knowledge is the lifeblood of research organisations, and we are committed to our mission to make it discoverable, working with our customers to make sense of their scientific data and apply insights to enable evidence-driven decisions.”
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Using a hybrid approach that combines a knowledge graph with the latest advances in generative AI, Causaly enables researchers to conduct deep, unbiased scientific exploration.
The technology is being adopted at scale by teams of researchers in diverse workflows from target identification to biomarker discovery, with customers including Gilead, Novo Nordisk, Regeneron, the Food and Drug Administration and the National Institute of Environmental Health Sciences.
It says the result is a 10x productivity gain, novel discoveries, and ultimately, a higher success rate of preclinical programmes.
“The sciences are at a turning point driven by the adoption of AI, and we believe Causaly is a leader in delivering this power to scientists in a highly trusted and verifiable manner,” said Caroline Xie, general partner at ICONIQ Growth and newest member of the Causaly board of directors.
“Causaly stands out to us as a uniquely powerful and user-oriented platform applying AI to drive significant productivity gains and commercial impact for many major pharmaceutical companies today. We are thrilled to support the entire Causaly team in their mission to revolutionise the way scientists find, visualise and collaborate on scientific evidence across pharma, life sciences, and beyond.”