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Verge Genomics Secures $98 Million In New Financing

Dec 16, 2021•almost 4 years ago

Amount Raised

$98 Million

San Francisco

Description

Verge Genomics, a tech-enabled drug discovery company pioneering the use of artificial intelligence (AI) and human data to develop new drugs, announced today it has closed an oversubscribed $98 million equity financing. The Series B financing was led by funds managed by BlackRock and supported by new healthcare and technology investors, including Eli Lilly and Company, Merck Global Health Innovation Fund (Merck GHI), Section 32, and Vulcan Capital, alongside Verge’s existing investors, including Threshold Ventures, ALS Investment Fund, Tao Capital Partners, Lifeforce Capital, and others.

Company Information

Company

Verge Genomics

Location

San Francisco, California, United States

About

Verge uses artificial intelligence and human data to develop better drugs faster for large unmet diseases. Verge has built an end-to-end drug discovery and development platform, featuring one of the field’s largest and most comprehensive proprietary patient genomics datasets in neuroscience. Verge applies machine learning to reveal new targets from human datasets and develops drugs with greater probabilities of success using its human-centric biology and chemistry platforms. Verge is the first AI-enabled drug discovery company to internally develop a clinical candidate from a novel target discovered from its platform. Verge has further demonstrated the power of its platform by delivering a broad preclinical and discovery pipeline spanning diverse therapeutic areas, with its first program entering the clinic in 2022. The company is led by experienced drug developers and computational biologists with a shared belief that technology has created a new opportunity to deliver life-changing medicines more efficiently. For additional information, please visit www.vergegenomics.com. Follow us on LinkedIn and Twitter.

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