Causaly, an AI platform for drug discovery and biomedical research, raises $60M

London-based startup Causaly has secured $60 million in a Series B funding round led by ICONIQ Growth. The funding will be utilised for research and development (R&D) activities and expanding the team.

Causaly, has developed an artificial intelligence (AI) platform designed to accelerate the drug development and testing processes. The company currently collaborates with 12 major pharmaceutical firms and leading medical research organisations, including Gilead, Novo Nordisk, Regeneron, the Food and Drug Administration, and the National Institute of Environmental Health Sciences.

Utilising its cloud-based platform, Causaly assists these organisations throughout various stages of drug development. It aids in identifying potential research targets, determining specific biomarkers associated with these targets, and enhancing pathophysiology understanding to better comprehend diseases, thereby facilitating the identification of suitable pharmaceutical and therapeutic solutions.

According to Kiachopoulos, Causaly's platform can significantly reduce the typical timeline of taking an idea from target identification to the completion of clinical trials. Instead of the usual 10-15 years, the platform aims to shorten this process to "several" years, leading to substantial cost savings.

In addition to accelerating drug development, Causaly's platform aims to minimise the occurrence of false starts and dead ends often encountered in the drug discovery journey. 

Causaly differentiates itself from other startups in the drug discovery field by providing tools and a software-as-a-service (SaaS) platform to biomedical teams, rather than directly engaging in drug development. The company's collaborations and partnerships with leading research organisations have been instrumental in driving its success.

With the latest funding secured and the support of investors, Causaly is well-positioned to continue revolutionising the way scientists find, visualise, and collaborate on scientific evidence in pharmaceutical and life sciences research.

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