Jerusalem, Wednesday, July 24, 2024 – CytoReason, an Israeli artificial intelligence (AI) company developing disease models, announced an $80 million funding round on Wednesday, July 17.
The investment underscores the growing importance of AI in the pharmaceutical industry.
Leading chipmaker Nvidia, pharmaceutical giant Pfizer, scientific instrument manufacturer Thermo Fisher Scientific, and venture capital firm OurCrowd participated in the funding round.
CytoReason’s technology utilizes machine learning to create computational disease models.
This allows researchers to analyze vast amounts of data and predict how drugs might affect patients. The company’s approach, likened to a “GPS for the immune system,” aims to accelerate drug discovery and development while reducing costs and increasing success rates in clinical trials.
CytoReason in a report emphasized the growing reliance on data modeling within the pharmaceutical industry.
The funding round signifies a vote of confidence from major players in both technology and pharmaceuticals.
Analysts say that collaboration with Nvidia has already yielded significant improvements. CytoReason’s platforms now run ten times faster on Nvidia’s latest AI hardware, according to Kimberly Powell, the company’s vice president of healthcare.
Pfizer, a previous investor with a $20 million stake in CytoReason, continues to see value in the partnership.
CytoReason plans to leverage the new funding to expand its disease modeling capabilities, increase its data assets, and establish a U.S. office in Cambridge, Massachusetts.
This strategic move will place the company closer to America’s biotech hub, fostering new partnerships.
CytoReason’s technology has already made a significant impact. Six of the top ten pharmaceutical companies globally utilize the company’s platform to make data-driven decisions in areas such as immunology, inflammation, and cancer treatment.
