TandemAI, a Suzhou, and Shangai, China, and New York-based technology company focused on transforming drug discovery infrastructure, announced that it raised $35 million in Series A financing.
Qiming Venture Partners led the financing along with participation from OrbiMed, Eight Roads Ventures, and F Prime Capital.
The funds will be used to expand its drug discovery service platform that integrates breakthrough computational tools with wet lab biophysics, medicinal chemistry, and biology.
“The financing is a strong endorsement of our strategy, value proposition, and the progress we have made to date,” said Jeff He, MBA, co-founder and CEO of TandemAI. “The funds will allow us to increase our wet lab capacity to over 500 chemists and biologists and continue the development of our world class computational tools to service the expanding biotech client base in the U.S. and China.” He noted the company’s client base currently includes about 50 companies.
Its fully integrated pre-clinical drug discovery platform is designed to empower researchers to discover better therapeutic candidates faster and more efficiently by democratizing access to the most innovative tools in drug discovery.
The company’s goal is to dramatically improve the success rate of pre-clinical therapeutic candidates and, ultimately, help improve the lives of people waiting for new treatment options.
Company: TandemAI Suzhou Co., Ltd
Raised: $35.0M
Round: Series A
Funding Month: March 2023
Lead Investors: Qiming Venture Partners
Additional Investors: OrbiMed, Eight Roads Ventures, and F Prime Capital
Company Website: https://tandemai.com/
Software Category: Drug Discovery
About the Company: TandemAI is an advanced technology company dedicated to reinventing drug discovery infrastructure. The company was established in late 2021 with a mission to lower the barrier to entry to the most advanced tools in drug discovery, including physics-based molecular simulation, artificial intelligence, and access to high-performance computing infrastructure. The company integrates proprietary AI-driven and physics-based high-performance computation with its efficient, large-scale in-house wet lab operations to deliver a turnkey drug discovery solution. TandemAI, with offices in New York, San Diego, and China, has built its networked platform from the ground up in China to increase the speed of drug discovery and deliver cost-effective opportunities to its partners and the global scientific community.
Source: https://www.businesswire.com/news/home/20230301005177/en/TandemAI-Raises-35-Million-in-Series-A-Financing-to-Expand-Integrated-Computational-and-Wet-Lab-Solutions-to-Accelerate-Drug-Discovery