On December 29, 2020, Galixir announced the completion of the latest two rounds of tens of millions of dollars in financing. The investment was led by Red Dot China and Wuyuan Capital (formerly Morningside Capital), and Source Code Capital, BAI Capital, Gaorong Capital, and DCM followed up. Mingyue Capital served as the exclusive financial advisor for this transaction. Galixir said that the financing funds will be used to expand the scale of the R&D team and build a professional biochemical testing laboratory to form a closed loop of innovative drug generation, screening, evaluation and testing processes, so as to achieve rapid optimization and advancement of R&D projects.
In just four months, Galixir completed three consecutive rounds of financing. During this period, Galixir has made a number of major technological breakthroughs, and its leading advantages continue to expand in domestic and foreign competition: On the one hand, Galixir successfully completed the development of drug generation and screening evaluation models for innovative gene targets for difficult disease types. On the other hand, Galixir’s existing drug R&D pipelines have made good progress, and have successively entered the in vivo and in vitro laboratory verification stage: the results of experimental feedback conducted by authoritative institutions show that the screening efficiency of Galixir’s own drug activity evaluation module has been significantly improved , Its hit rate is more than ten times higher than that of the traditional method; in addition, the Galixir team uses its own molecular design module and compound optimization module to obtain multiple new molecular de novo designs or optimization solutions in a short period of time. These designs The plan has also passed the wet test verification link. “The results of the wet experiment prove that the Galixir platform can efficiently and accurately find new molecules with better activity than the target drug and with greater patent space. This makes it possible for us to rapidly advance multiple R&D pipelines”, Galixir founder and CEO Dr. Chengtao Li said.
Galixir was established in 2019 and is committed to using cutting-edge artificial intelligence technology to focus on preclinical drug research and development. Its self-developed artificial intelligence drug discovery platform is dedicated to helping drug research and development scientists greatly save time and cost in drug development, and can provide complete patent protection coverage for the drugs developed.
The founder and CEO of the company, Dr. Chengtao Li graduated from the Tsinghua Yao Class with a bachelor’s degree. He has a Ph.D. in computer science from the Massachusetts Institute of Technology. The rapidly growing Galixir team has professionals with a multidisciplinary background: the main members of the team come from well-known Internet companies, multinational pharmaceutical companies and drug research institutions. The team members have experience in leading new drug projects to be approved by the FDA, and they have also pioneered and optimized multiple artificial intelligence models in the field of drug development. At present, the Galixir research team is still exploring the cutting-edge technology of artificial intelligence in the field of drug development: this year, the Galixir team has joined with top universities and research institutes at home and abroad, and has published several papers in many top conferences and journals.
The “AI pharmaceutical” track where Galixir is located is a subdivision that has been favored by the industry in the “AI+” field in recent years. Generally speaking, drug research and development mainly includes four stages: drug discovery, preclinical research, clinical research, and approval and marketing.
The core of the AI pharmaceutical track competition is the depth of pipeline research and development. The later the drug pipeline is advanced, the greater the value. Galixir is in the lead on this track. Galixir’s technical capabilities are based on a sophisticated AI model, fully combining the two dimensions of computational chemistry and medicinal chemistry, and building a complete set of automated systems through different tools, which can achieve full coverage of drugs from seed compounds to preclinical candidates.
Galixir has created a variety of unique algorithms and established a series of deep learning models such as drug target discovery, candidate compound generation, compound structure optimization, druggability and toxicity prediction, and patent analysis. Galixir, which was established just over a year ago, has integrated hundreds of models and developed a process optimization program for drug discovery for cancer, metabolic diseases, and immune-related diseases, gradually establishing barriers in the AI+ new drug development track. According to the preliminary comparative analysis, the models and algorithms independently developed by Galixir have achieved the best results in related fields in multiple links, which can greatly shorten the development time and cost, and directly refer to the new drugs commonly encountered by domestic and foreign drug research and development companies. The problem of “high investment and long cycle” in research and development.
In terms of landing, Galixir has established a number of highly effective cooperative project teams, which can carry out multiple early drug discovery projects at the same time. At present, Galixir has signed strategic cooperation agreements with many well-known universities and pharmaceutical companies at home and abroad to ensure the smooth progress of upstream and downstream innovation and downstream testing of innovative drug discovery and development.
Yuan Wenda, the founding and managing partner of Red Dot China, mentioned: “New drug R&D costs are high, the cycle is long, and the success rate is very low. The need for AI technology to empower the industry and improve efficiency is becoming increasingly prominent. The application market scale of new drug R&D scenarios using AI It is expected to reach several billion U.S. dollars in 2024. The Galixir team led by Dr. Li Chengtao has breakthrough technology that can increase the accuracy of drug screening by more than 10 times that of traditional methods, and has signed an end-to-end agreement with multiple benchmark pharmaceutical companies. The pre-clinical drug R&D project has obtained actual revenue and demonstrated strong development potential. We are very happy to be the lead investor in the A round to support the company, and hope that Galixir will become one of the most dynamic platforms in the global AI drug discovery field. ”
Jing Xutian, Managing Director of Wuyuan Capital, said: “We discussed AI+ new drug research and development with Dr. Li in 2018. At that time, the technical verification and market prospects were still very uncertain. In just two years, a huge event happened on this track. Changes, and Dr. Li has not only formed a relatively complete team, built the algorithm platform for Galixir’s first-generation AI new drug discovery, and has verified its technical feasibility through wet tests. The Chinese pharmaceutical market is undergoing dominance by generic drug companies In the transformation to an innovative pharmaceutical company, brand-new pharmaceutical assets will be a scarce resource for the entire industry. With the help of AI, Galixir can continue to output high-quality innovative pharmaceutical assets for the industry.”
BAI Capital stated: “We firmly believe that artificial intelligence technology can bring about huge changes to the trillion-dollar pharmaceutical industry. We will build a new infrastructure for AI-enabled digital drug R&D from the three dimensions of computing power, algorithms, and data. We are firmly optimistic about Galixir Technology. Use innovative interdisciplinary methods to quickly and accurately discover drug molecules, and become an innovative platform-based company for the batch output of new drug pipelines.”
Mingyue Capital’s founding partner Wang Yutong Micky said: “Galixir has gathered top AI and pharmaceutical talents, and has continuously achieved various technological breakthroughs in a short period of time, which has significantly improved the efficiency of new drug development. Mingyue is firmly optimistic about Dr. Li and his The team, look forward to Galixir’s more performance in exploring the compound universe.”