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AI pharmaceutical company Galixir absorbs a new funds in its latest financing
Chinese AI pharmaceutical startup Galixir announced the completion of a new round of financing. The round was led by Shanghai Artificial Intelligence Industry Investment Fund.
The existing shareholders also participated in the round, including Gaorong Capital, DCM, Source Code Capital, Redpoint China Ventures, 5Y Capital and BAI Capital. Maxceed Capital acted as the exclusive financial advisor for the round.
Founded in 2019, Galixir is a solution provider that supports the research and development of new drugs based on AI technology. It aims to combine artificial intelligence with pharmacy, chemistry, biology and other technologies to build an AI drug discovery platform to reduce scientists’ development cycle and cost in the drug research and development process, thereby promoting the various processes of new drug research and development.
Currently, the firm has built a drug discovery platform PyxirTM based on original algorithms and combining domain knowledge, tools and experience in medicinal chemistry, computational chemistry and biology, which has been validated and has made technical progress in stages. This round of financing plays an important role in further strengthening the platform's functionality, and the funds raised will be used to continue to advance multiple drug discovery project pipelines, expand the talent pipeline and deepen the research technology advantage.