GLASGOW, Scotland--(BUSINESS WIRE)--Aug 2, 2023--
Chemify, a pioneering company operating its proprietary molecular design, discovery, and chemical manufacturing technology to provide pharmaceutical, biotechnology, and industrial partners with better molecules, today announced funding of $43 million including a Series A led by Triatomic Capital, joined by new investors including Hong-Kong based Horizon Ventures, US-based Rocketship Ventures, Possible Ventures, Alix Ventures, Scotland-based Eos, and the UK Government Innovation Accelerators program. Existing investor BlueYard Capital also participated in the round.
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Lee Cronin, CEO, Chemify (Photo: Business Wire)
Founded in 2019 by CEO Lee Cronin with backing from David Cleevely (co-founder of Abcam), Chemify is based on decades of chemistry research, robotics, AI, and conceptual advancements from Cronin’s Digital Chemistry Laboratory at the University of Glasgow in Scotland. Professor Cronin’s pioneering research spans the digitization of chemistry including the use of artificial intelligence in chemistry to explore ‘chemical space’ - to access and create the trillions of possible combinations of natural elements. Chemify can help reduce the amount of costly and time-consuming experimentation required to discover promising new molecules, speeding up their development as products to underpin advances in medicine, farming, materials science, and green energy.
Lee Cronin said: “It has long been our dream to digitize chemistry, and I’m delighted that through this funding, Chemify is building a company that can design, make, and discover complex molecules on demand using digital blueprints faster, more efficiently, and safely than is currently possible. Our mission is to deliver better molecules for pharmaceutical and industrial partners in a fraction of the time and cost currently required.”
Chemify spun out from the University of Glasgow in March 2022 and has built a world-class team to commercialize the digitization of chemistry. The underlying technology was designed and developed by Cronin and his team at the University of Glasgow, based at the Mazumdar-Shaw Advanced Research Centre. With over $30 million invested in the foundational research behind Chemify, the team developed a new digital chemical approach to program chemistry.
Chemify’s vision is to build the infrastructure to digitize chemistry and enable the execution of chemical code for drug discovery, chemical synthesis, and materials discovery. Chemify is creating a digital chemical future where the access to important molecules, drugs, and new materials, currently unimaginable, are instantly accessible. Chemify’s aim is to radically increase the speed of innovation, solving problems and generating new chemical technologies for the benefit of humanity.
Steve Hochberg from Triatomic Capital says: “We are excited to be leading the series A in Chemify focussing on delivering digital-chemical solutions to many partners where molecular design and manufacturing is a critical bottleneck.”
By working closely with select partners with world-class expertise in drug discovery, advanced materials, industrial chemicals, and other specialties, Chemify aims to provide access to its platform and help solve the most complex and impactful chemical design and manufacturing challenges.
To learn more about Chemify, visit our website at www.chemify.io or follow us on LinkedIn or Twitter.
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CONTACT: Nick Freer
nick@freerconsultancy.com
KEYWORD: UNITED KINGDOM EUROPE
INDUSTRY KEYWORD: BIOTECHNOLOGY TECHNOLOGY MANUFACTURING HEALTH ROBOTICS OTHER SCIENCE RESEARCH SOFTWARE ARTIFICIAL INTELLIGENCE SCIENCE CHEMICALS/PLASTICS
SOURCE: Chemify
Copyright Business Wire 2023.
PUB: 08/02/2023 07:00 AM/DISC: 08/02/2023 06:58 AM
http://www.businesswire.com/news/home/20230802317135/en
