Biorelate, a Manchester, UK-based technology platform using artificial intelligence (AI) to efficiently curate data in biomedicine, raised £6.5 million in Series A investment for its AI drug discovery platform for medical companies.
The round was led by Maven Capital Partners and YFM Equity Partners, alongside support from Triple Point Ventures and other angel investors.
With the funding, Biorelate plans to build out its commercial and technical capacity ahead of a planned foray into the US market with its software.
Dan Jamieson, founder and CEO of Biorelate, said: “We are at a time where there is a stupendous amount of untapped evidence, like cause-and-effect, sat dark and subsequently unused by these same companies.” “Our mission at Biorelate is to capture this untapped data and help them make sense of it.”
Its “Galactic AI” platform uses natural language processing and machine learning, both branches of AI, to collect “billions of biomedical data points” that can be used by medical companies to develop drugs.
Biorelate's platform is already used by big pharma giant AstraZeneca, Swiss pharmaceutical house Idorsia, and several "undisclosed names".
Company: Biorelate Ltd.
Round: Series A
Funding Month: November 2022
Lead Investors: Maven Capital Partners and YFM Equity Partners
Additional Investors: Triple Point Ventures
Company Website: https://www.biorelate.com/
Software Category: AI Drug Discovery Platform
About the Company: Biorelate was founded in 2014 from cutting-edge scientific research into how biomedical curation can utilize existing dark knowledge to accelerate future drug discovery. Biorelate developed Galactic AI to provide scientists with the tools and insights they need to develop the innovations of the future. Biorelate's Galactic AI software uses natural language processing to automatically build research intelligence trees from 38.3 million biomedical sources, like academic papers. Its mission is to curate knowledge to advance the world's most promising biomedical innovations.