Israeli Biotech CytoReason Raises $130M to Revolutionize AI-Driven Disease Modeling and Drug Development
July 19, 2024Israeli biotech startup CytoReason has secured a total of $130 million in funding.
The recent $80 million investment came from investors such as OurCrowd, NVIDIA, Pfizer, and Thermo Fisher.
Nvidia's participation underscores its focus on AI technology investments, marking over 30 AI-related investments by the end of 2023.
CytoReason specializes in AI-driven disease modeling.
The funding will be used to expand CytoReason's models, data, and establish a US office in Cambridge, Massachusetts.
A strategic collaboration with Pfizer includes an initial $20 million investment, potentially reaching $110 million by 2027.
Partnerships with Pfizer and leading data organizations have helped CytoReason scale its AI-powered disease models.
CEO David Harel highlights the importance of data modeling in pharmaceutical R&D and aims to streamline drug development processes to benefit patients globally.
Summary based on 6 sources
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Sources
Yahoo Finance • Jul 17, 2024
Nvidia, Pfizer lead $80 million funding for Israeli medical AI tech firm CytoReasonThe Times of Israel • Jul 17, 2024
Backed by Nvidia and Pfizer, Israeli AI medical startup raises $80m in fresh capital