New funding to support platform advancements and proprietary pipeline
NEW YORK–(BUSINESS WIRE)–Schrödinger
today announced that several new investors have joined its latest
funding round, which was completed with a total raise of $110 million to
support continued advancement of the company’s industry-leading
computational platform and expansion of its therapeutic pipeline.
New investors include Invus, Pavilion Capital, Oculus co-founder Michael
Antonov through his investment fund, Tubus Management, Laurion Capital
Management, and others. Previous investors in the round included the
Bill and Melinda Gates Foundation Trust, WuXi AppTec’s Corporate Venture
Fund, Deerfield Management, Baron, Qiming Venture Partners, and GV
(formerly Google Ventures).
“Our platform has been validated again and again across hundreds of
targets in real-world drug discovery projects,” said Schrödinger CEO
Ramy Farid, Ph.D. “We are committed to leveraging the platform to speed
the discovery of new medicines, and we’re delighted to receive such
broad support from investors to further our mission.”
The funding will support the advancement of Schrödinger’s wholly-owned
drug discovery pipeline and enable continued expansion of the company’s
collaborations with biopharma companies worldwide. These partnerships
have already led to two FDA-approved oncology drugs, several
clinical-stage assets, and more than two dozen additional programs
moving through discovery and development.
The investment will also support Schrödinger’s ongoing research and
development efforts to extend the reach of its proprietary technology
platform, which integrates novel physics-based molecular simulations and
machine learning to enable exploration of vastly more chemical space
than is possible through traditional drug discovery methods. This
expanded and accelerated exploration opens new frontiers for discovery
of novel compounds for both therapeutic indications and materials design.
Schrödinger has a substantial and growing global business, licensing its
industry-leading computational platform to pharmaceutical,
biotechnology, chemical, and electronics companies to accelerate R&D in
both drug discovery and materials design. Schrödinger has built a robust
pipeline of therapeutic assets, held both internally and in
partnerships, and has co-founded leading biotech companies, including
Nimbus Therapeutics and Morphic Therapeutic. Schrödinger’s significant
and ongoing investment in basic research continues to drive advances in
its computational platform. Founded in 1990, Schrödinger has nearly 400
employees in its New York City headquarters and around the world. Visit schrodinger.com
for more information.
Stern IR, Inc.