Investors include Woodford Investment Management, Lundbeck, and Lansdowne Partners. The identity of some investors has not been disclosed.
BenevolentAI says the funding round is one of the largest in the AI pharmaceutical sector to date -- which is not surprising considering the industry is in its infancy and the technology driving the industry is relatively new.
BenevolentAI says that artificial intelligence can be used to lower the cost of developing new drugs by utilizing machine learning (ML) to quickly generate drug candidates at scale.
AI can also take the labor out of analyzing diseases at the molecular level in order to link them to patients with difficult to treat diseases -- paving the way for more effective, faster, personalized medicine.
The startup has developed a machine learning-based "brain" which analyzes over 50 billion medical data records to generate new insights into drug discovery.
BenevolentAI's technology is currently in use for the development of treatments across diseases including Motor Neuron Disease, Parkinson's Disease, Glioblastoma, and Sarcopenia.