OpenAI-backed biotech firm Chai Discovery raises $130M Series B at $1.3B valuation

In Brief

Chai Discovery, a biotech startup with backing from OpenAI, announced an $130 cardinal Series B circular astatine a $1.3 cardinal valuation connected Monday.

The circular was led by General Catalyst and Oak HC/FT, the institution said. Other participants see Menlo Ventures, OpenAI, Dimension, Thrive Capital, Neo, Yosemite task fund, Lachy Groom, SV Angel, and caller investors Glade Brook and Emerson Collective. The firm’s full backing present stands astatine implicit $225 million.

The institution is 1 successful a increasing industry that sees AI arsenic a faster way towards cause development. In August, Menlo Ventures announced it was starring Chai’s $70 cardinal Series A round. The capitalist described Chai arsenic a startup that was gathering instauration models tuned for cause discovery, specifically to foretell interactions betwixt biochemical molecules truthful they could beryllium reprogramed for cures.

Chai says that its ambition is to “build the “computer aided plan suite” for molecules.” Last year, the startup announced the Chai 1 AI exemplary and is present offering Chai 2, it’s latest model. The institution says Chai 2 is achieving important improvements successful occurrence rates implicit different methods for de novo antibody design, meaning gathering customized antibodies from scratch, not modifying existing ones.

“Our latest models tin plan molecules that person properties we’d privation from existent drugs, and tackle challenging targets that person been retired of reach,” Josh Meier, Chai’s co-founder and CEO said successful a prepared statement.

Previously, Meier, who’s inheritance is successful instrumentality learning, worked successful probe and engineering astatine Facebook and, anterior to that, worked for OpenAI, according to his LinkedIn. Chai Discovery was founded successful 2024, the illustration notes.

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