NEW YORK (GenomeWeb) – Drug discovery startup Engine Biosciences announced today that it has raised $10 million in seed funding.
The oversubscribed round was co-led by Danhua Capital and 6 Dimensions Capital, and included WuXi AppTec, EDBI, Pavilion Capital, Baidu Ventures, WI Harper, and Nest Bio Ventures.
Engine said it would use the funding to continue development of its drug discovery platform, which combines high-throughput wet lab experimentation with artificial intelligence algorithms, as well as to expand its scientific and executive teams in Singapore and San Francisco. The company also aims to conduct preclinical studies internally and with partners.
"Engine's data-driven platform allows researchers to uncover the critical gene interactions underlying diseases and also test therapies that specifically target these interactions in a faster, cheaper, and more precise fashion than currently possible," Engine Cofounder and CEO Jeffrey Lu said in a statement.