In a significant leap for the convergence of artificial intelligence and biotechnology, Chai Discovery has successfully raised $130 million in a Series B funding round. This latest capital injection propels the company’s valuation to $1.3 billion, cementing its status as a unicorn in the rapidly evolving life sciences sector.
The round was co-led by venture capital heavyweights General Catalyst and Oak HC/FT, signaling strong market confidence in Chai Discovery’s mission to transform biology into an engineering discipline. This financing brings the company's total funding to over $225 million, following a robust Series A round just months prior.
The investment round attracted a prestigious roster of participants, underscoring the high stakes and high potential of AI in pharmaceutical development. Returning investors include OpenAI, Thrive Capital, Menlo Ventures, Dimension, Neo, Lachy Groom, and SV Angel. They were joined by new strategic partners Glade Brook and the Emerson Collective. As part of the deal, Annie Lamont of Oak HC/FT and Hemant Taneja of General Catalyst will join Chai Discovery’s board of directors, bringing decades of experience in healthcare and technology scaling to the company’s governance.
Chai Discovery is building what it describes as a "computer-aided design suite" for molecular biology. The company’s proprietary technology leverages advanced foundation models to predict and reprogram biochemical interactions with unprecedented precision.
The funds will be dedicated to accelerating research and development, specifically for their flagship AI models, Chai-1 and Chai-2. While Chai-1 serves as a foundation model for molecular structure prediction, the newly released Chai-2 has demonstrated breakthrough capabilities in antibody design. According to the company, Chai-2 can design full-length monoclonal antibodies that meet rigorous preclinical standards, addressing complex biological targets that have historically been considered “undruggable.”
Josh Meier, co-founder and CEO of Chai Discovery, highlighted the exponential pace of innovation within the sector. "We are in awe of the rate of progress on the models what looked like five-year problems just months ago are now getting solved in weeks," Meier stated.
The company’s approach shifts drug discovery from a process of stochastic screening essentially trial and error to a programmable workflow. By designing therapeutics in silico with atomic precision, Chai Discovery aims to drastically reduce the time and cost required to bring life-saving medicines to patients.
With this substantial war chest, Chai Discovery is poised to expand its commercial operations and deepen its partnerships with pharmaceutical leaders, moving closer to a future where new cures are designed on computers rather than discovered by chance.
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