AI for drug discovery draws a $1 billion launch—and a lot of hope [Yahoo! Finance]
ROCHE HOLDING LTD S/ADR (RHHBY)
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Source: Yahoo! Finance
Therapeutics, emerged from stealth with $1 billion in funding. The San Francisco-based firm aims to create AI models to develop new ways to connect biological targets and engineered molecules to human diseases. It's led by Genentech's former chief scientific officer and was incubated by Foresite Labs and Arch Venture Partners—the latter of which says Xaira is the largest initial funding commitment the firm has ever made in its 30 years of investing. Any funding round with a B—especially for an early-stage company—represents a big bet and a lot of hope. Aspirations are particularly high for the use of AI in drug discovery. While the upside of models that can create videos, music, and other creative works is still fuzzy (and in some ways even feel threatening), the societal benefits of breakthroughs in medicine that could help people live longer, healthier lives, and reduce suffering are crystal clear. It's one of the use cases for AI I've been most interested in for this reason. Even
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