Key points from article :
Biotech company Generate:Biomedicines has raised $273 million in a Series C funding round to advance its AI-driven approach to developing new protein-based therapies. The financing was backed by major investors, including Amgen, MAPS Capital, and NVentures, alongside previous backers such as Flagship Pioneering and the Abu Dhabi Investment Authority.
The funding will support the company’s pipeline of 17 therapeutic programs, with plans to initiate around 10 new projects annually. These programs span immunology, oncology, and infectious disease. The investment will also help Generate:Biomedicines submit multiple investigational new drug (IND) applications next year and launch new clinical trials.
CEO Mike Nally highlighted the company's mission to use generative AI to improve the precision and speed of drug development. With its first therapy now in clinical trials, the company is moving closer to demonstrating the power of AI in tackling complex diseases. Since 2020, Generate:Biomedicines has raised $700 million in equity financing to advance its innovative approach to therapeutic discovery.
