UK biotech company LabGenius has successfully raised £35 million in a Series B funding round to further develop its antibody discovery platform and progress its pipeline of cancer treatments. The company aims to leverage its innovative machine learning-powered platform, EVA, to focus on creating targeted solid tumor drugs that could potentially reduce off-tumor toxicity levels.
EVA, LabGenius’ proprietary technology, was previously utilized in collaboration with pharmaceutical giant Sanofi to identify novel candidates for inflammatory diseases under a partnership established in 2021. The platform’s capabilities have shown promise in accelerating the drug discovery process by utilizing advanced algorithms and data analysis techniques.
With the latest funding injection, LabGenius is poised to expand its research efforts in the oncology space, specifically targeting solid tumors with the goal of developing more effective and safer treatment options. By harnessing the power of machine learning and artificial intelligence, the company aims to unlock new opportunities for combating cancer and improving patient outcomes.
This significant financial backing underscores the growing interest and investment in biotechnology companies leveraging cutting-edge technologies to drive innovation in healthcare. As LabGenius continues to make strides in the field of oncology research, the potential impact of its work on the future of cancer treatment remains a focal point of industry attention.
Frequently Asked Questions (FAQs) Related to the Above News
What is LabGenius?
LabGenius is a UK biotech company specializing in antibody discovery and drug development, with a focus on advancing cancer treatments using machine learning technology.
What is EVA?
EVA is LabGenius' proprietary machine learning-powered platform that accelerates the drug discovery process by identifying novel candidates for various diseases, including cancer.
How much funding did LabGenius raise in its Series B funding round?
LabGenius raised £35 million in its Series B funding round to further develop its antibody discovery platform and advance its pipeline of cancer treatments.
What is LabGenius' current focus in oncology research?
LabGenius is focusing on creating targeted solid tumor drugs using EVA to potentially reduce off-tumor toxicity levels and develop more effective and safer treatment options for cancer patients.
What are some of the benefits of leveraging machine learning technology in drug discovery?
By utilizing advanced algorithms and data analysis techniques, machine learning technology can help accelerate the discovery of novel drug candidates, leading to more efficient and innovative treatment options for various diseases, including cancer.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
