NEW YORK (GenomeWeb) – Startup drug discovery firm Verge Genomics today announced it has raised $4 million in seed funding.
IA Ventures led the round, joined by Two Sigma Ventures, Draper Associates, Great Oaks VC, Slow Ventures, Karlin Ventures, and other private investors. San Francisco-based Verge came out of the Y Combinator accelerator and is also a spinout of the University of California, Los Angeles.
The firm is looking to change drug development for neurodegenerative diseases by using algorithms to find the gene networks contributing to those diseases and matching drugs that can affect the entire network.
Verge said in a statement that it will use the proceeds to expand development on its leading algorithmic platform while advancing lead drug candidates through further preclinical proof-of-concept experiments.