Manchester-based Biorelate has bagged £6.5m in Series A investment for its AI drug discovery platform for medical companies.
Its “Galactic AI” platform uses natural language processing and machine learning, both branches of AI, to collect “billions of biomedical data points” that can be used by medical companies to develop drugs.
Dan Jamieson, founder and CEO of Biorelate, said: “We are at a time where there is a stupendous amount of untapped evidence, like cause-and-effect, sat dark and subsequently unused by these same companies.”
“Our mission at Biorelate is to capture this untapped data and help them make sense of it.”
The Series A capital came from YFM, Maven, Triple Point Ventures, Northern Powerhouse Investment Fund and Manchester Tech Trust angels.
Founded in 2014, the firm will use the funds to expand into the US along with increasing its commercial and technical teams.
Andy Thomas, partner at YFM Equity Partners, said: “By quickly and effectively processing the growing and evolving swathe of publicly available biomedical data, Biorelate has the ability to be at the forefront of innovation in the pharmaceutical and life sciences industry.”
Biorelate is not alone in applying AI technology to the drugs space – others include iLof, AMPLY and Nucleome Therapeutics.