PostEra Closes $24M in New Financing to Advance Drug Discovery
PR94003
BOSTON, Jan. 11, 2022 /PRNewswire=KYODO JBN/ --
PostEra, a biotechnology company specializing in machine learning for
preclinical drug discovery, today announced $24M in equity financing to
accelerate medicinal chemistry and bring new cures to patients.
Logo - https://mma.prnewswire.com/media/1722598/PostEra_Logo.jpg
PostEra will use the proceeds to advance a series of partnered drug discovery
programs, initiate its own internal drug discovery, and further develop its
medicinal chemistry platform. True to its collaborative ethos, the company
today also announced its multi-target strategic partnership with Pfizer, to
establish an AI Lab.
The Clermont Group, an international business group headquartered in Singapore,
led the Series A financing with participation from Breyer Capital, Lifeforce
Capital and I2BF Global Ventures, alongside existing investors including
Metaplanet, HOF Capital, Ace & Company, Pioneer Fund, and R. Martin Chavez.
"PostEra is excited to welcome the Clermont Group as a shareholder," said Aaron
Morris, CEO of PostEra. "We share the same passion for innovation and
commitment to improve lives by accelerating the discovery of treatments for
diseases."
"We invest in businesses dedicated to the greater good of society," said Sean
Gardiner, senior vice-president at the Clermont Group. "PostEra is at the
leading edge of advancing medicinal chemistry through its advanced AI
technology. We look forward to working alongside the team to build the
industry's leading drug discovery platform."
Over the last 18 months, PostEra has proven its platform on a wide variety of
drug discovery programs by tightly integrating the Design-Make-Test cycle of
medicinal chemistry. Results include the rapid development of COVID oral
antiviral candidates via COVID Moonshot, the advancement of several drug
discovery efforts with biopharma partners, and the launch of Manifold as an
industry leading synthesis platform.
"PostEra has made large strides in demonstrating the real utility of our
AI-first medicinal chemistry platform to accelerate small molecule drug
discovery," said Morris. "We have a proven record in deploying our machine
learning technology to unify the Design-Make-Test cycle of medicinal chemistry
and, vastly improve upon traditional trial-and-error based approaches."
About PostEra
PostEra was founded in 2019 and its technology is built on pioneering academic
research done by its founding scientists. PostEra's technology addresses some
of the key challenges in drug discovery R&D by integrating molecular design
with chemical synthesis. PostEra advances small molecule programs through
partnerships with biopharma, working on its own internal pipeline, and also
offering some of its synthesis technology via its Manifold (
) web platform. PostEra also launched and now helps lead the world's largest
open-science drug discovery effort; COVID Moonshot (
).
About the Clermont Group
The Clermont Group is an international business group headquartered in
Singapore. Founded in 1986 by New Zealand-born entrepreneur Mr. Richard F.
Chandler, the Clermont Group builds businesses in healthcare, financial
services and aerospace. Further information can be found at www.clermont.com
SOURCE PostEra
CONTACT: Aaron Morris, Chief Executive Officer, E-mail: founders@postera.ai
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