Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Drug Discovery Startup GTN Raises £2.1M Seed

London-based startup GTN uses AI and quantum physics to test and discover new medicines (via https://bit.ly/2IxNQN1)

London-based machine learning startup GTN has raised £2.1 million in a Seed round led by  Octopus Ventures and Pentech, and also backed by Entrepreneur First . Founded in 2017 by Noor Shaker and Vid Stojevic, the company is using AI tech and quantum physics to discover new drugs.

According to GTN, bringing a novel drug to the market takes 15 years on average and can cost over £2.1 billion ($2.9 billion). GTN has created technology called Generative Tensorial Networks, which blends machine learning and quantum physics to experiment simulations and discover new medicinal molecules. This is aimed at making drug development more efficient and quick.

GTN might  predict a molecule’s fundamental properties such as binding energy and toxicity. The fresh injection of cash will be used to further grow the company’s tech.

Cofounder and CEO Professor Noor Shaker commented on the funding  round in a statement. “GTN uniquely combines multiple scientific disciplines, including quantum physics, biochemistry and deep learning to revolutionise medicine discovery,” she said.

“Interdisciplinary solutions are key to solving some of the most fundamental challenges in one of the world’s most important and commercially valuable targets for scientific R&D. We can see early indications that drug discovery will be transformed in the coming years and we are proud to be working with world-leading advisors, partners and investors at the forefront of these transformative changes”.

Octopus Ventures partner Luke Hakes also commented on the round: “GTN is on a mission to revolutionise drug discovery and we are thrilled to support them on their journey. This is exactly the kind of innovative early-stage business Octopus Ventures wants to invest in,” he said in a statement.

“GTN has already established their capabilities by demonstrating their novel approach and we are excited to see what they will achieve,” Hakes concluded .

Image via bit.ly/2IxNQN1

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