METiS Therapeutics, a firm focused on the development of an AI-driven drug discovery and delivery platform, announced on Wednesday that it has completed two consecutive rounds of financing totaling $150 million.
These two rounds were led by PICC PE and China Life Private Equity, followed by Sequoia Capital China, 5Y Capital, CMB International, Lightspeed China, Monolith and FreesFund, while China Renaissance served as the exclusive financial consultant. Among them, Source Code Capital supported the firm with several rounds of financing, starting from its angel investment.
METIS was hatched by XtalPi in the early stages, and devoted itself to promoting the development of an AI-driven drug discovery and delivery platform. Through independent research and development and active cooperation with others, METiS promoted many drugs to the clinical stage in the field of small molecule and nucleic acid therapeutics.
The METiS platform (AiTEM) combines state-of-the-art AI data-driven algorithms, mechanism-driven quantum mechanics and molecular dynamics simulations to calculate Active Pharmaceutical Ingredient (API) properties and predict chemical, physical and pharmacokinetic properties of small molecule and nucleic acid therapeutics in specific microenvironments. This enables efficient lead optimization, candidate selection and formulation design.
At present, METiS has applied for a number of patented technologies with important application value, and its products under research are expected to carry out clinical practice in 2023.
It is worth mentioning that METiS has built a nucleic acid drug development capability, integrating mRNA sequence design and LNP delivery system design with independent intellectual property rights. It has also won a number of cooperation opportunities from large pharmaceutical companies, both within China and abroad, to jointly develop products.