Causaly, a London-based startup that specializes in AI-driven drug discovery and biomedical research, has secured $60 million in a Series B funding round. The investment will be used to further develop the company’s research and development efforts and expand its team. Leading the funding round is ICONIQ Growth, along with participation from previous investors Index Ventures, Marathon Ventures, EBRD, Pentech Ventures, and Visionaries Club. With this latest funding, Causaly has raised a total of $86 million since its inception.
Founded just over six years ago by CEO Yiannis Kiachopoulos and CTO Artur Saudabayev, Causaly already boasts an impressive client list that includes 12 of the world’s largest pharmaceutical companies, as well as prominent names in medical research such as Gilead, Novo Nordisk, Regeneron, the Food and Drug Administration, and the National Institute of Environmental Health Sciences. These organizations utilize Causaly’s cloud-based platform to streamline their drug development processes, from identifying research targets and biomarkers to understanding diseases on a deeper level and finding potential treatments.
Causaly’s platform has the potential to significantly reduce the time and cost associated with drug development. According to Kiachopoulos, the platform can shorten the typical 10-15 year timeline for bringing a drug to market down to approximately six years. This accelerated timeline could save pharmaceutical companies billions of dollars by minimizing the number of false starts and unsuccessful trials.
The biomedical research field is ripe for disruption, and AI technology has emerged as a powerful tool to address its inherent inefficiencies. By leveraging AI to analyze vast amounts of data and improve computational modeling, Causaly aims to revolutionize the drug discovery process. However, unlike many AI startups in the industry, Causaly does not develop its own therapeutics. Instead, it provides researchers and scientists with the tools they need to optimize their work, making the company a trusted partner in the pharmaceutical and life sciences sectors.
Caroline Xie, a general partner at ICONIQ Growth, will be joining Causaly’s board as part of the funding round. Xie believes that Causaly is at the forefront of delivering AI-powered solutions to scientists in a reliable and effective manner. She views Causaly’s platform as a game-changer that will significantly enhance productivity and drive commercial impact for major pharmaceutical companies.
Carlos Gonzalez-Cadenas, a partner at Index Ventures, also expressed praise for Causaly’s platform, stating that it represents one of the most practical and impactful applications of AI technology. The platform’s adoption by leading research organizations further underscores its potential to transform biomedical research and development.
With the latest funding injection, Causaly is well-positioned to continue its mission of empowering scientists to tackle the world’s most significant challenges through AI-driven research. The company’s commitment to providing valuable insights and collaborative tools sets it apart in the industry. As Causaly continues to innovate and expand, it is poised to make lasting contributions to the field of drug discovery and biomedical research.
