VC Funding for Artificial Intelligence in Drug Development Climbs to $5.2 Billion

06th January 2020 – Written by Ulrik Kristensen, Ph.D – Features on BioSpace.com – The last few years there has been regular news about advances in artificial intelligence (AI) and machine learning increasingly being a focus of interest for the biopharma industry. For example, in September 2019, San Francisco-based Atomwise, which focuses on AI for drug discovery, signed three deals. It launched a joint venture with Cleveland-based OncoStatyx, a joint venture with Seattle’s SEngine Precision Medicine, and a joint venture with Belmont, California-based Atropos Therapeutics.

A recent market report by Signify Research found that venture capital investment for AI in drug development and clinical trials had reached $5.2 billion, although it pointed to investments slowing down in 2019 with only four new companies being formed. ‚”Any new start-ups will have to prove themselves able to compete against well-funded first-generation vendors, and existing vendors are under pressure to demonstrate results,‚” wrote Ulrick Kristensen, senior market analyst with Signify.