Prominent biotech leader, Engine Biosciences, has reportedly closed $43 million in a funding round led by Polaris Partners, which also saw participation from newcomers, Invus, and a lengthy list of existing investors. The company, a Singaporean outfit, made this move in order to keep growing in the field of drug discovery.
Notably, the money would be used in requisite testing and the paperwork which is involved in bringing a novel drug to the market on the basis of promising leads.
For the record, digital drug discovery is the large-scale analysis of biological data, including genes, binding sites, gene expression, protein structures, among others.
The company would be making use of a pair of tools, which it has named NetMAPPR and CombiGEM. While NetMAPPR would take special note of the errors to deliver a foothold for the treatment or molecule, CombiGEM would provide an instantaneous experimental confirmation of the targets as well as effects proposed by the digital side.
According to the Co-founder and CEO of Engine Biosciences, Jeffrey Lu, the company’s focus on gene interactions would set their approach apart. He has apparently claimed that the team is working towards a proven approach in cancer for effective precision medicines while considering the relevancy of gene interactions to all diseases.
The CEO confirmed that the team was already in possession of the chemical compounds, effectively the prototype drugs that show anti-cancer effects in diseased cells, which are directed towards the novel biology that the company has uncovered.
Sources also reveal that Engine is currently teaming up with other firms to advance its steps in automated animal testing, in order to forge a path for human trials.
Previously, the company had also raised a $10 million seed in 2018 and has been consistent in its activities. However, it would require more funding for bringing these developments to the market.
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