Protai, a proteomics and AI-powered drug discovery startup has today announced a $12 million extension to its seed funding round, bringing the total amount to $20 million.
Since receiving initial funding, Protai has opened laboratories at its Israel R&D centre for data acquisition, biological validation and drug discovery activities and recruited an experienced drug discovery team, as well as establishing collaborations with several hospitals.
The additional funding will be used to build Protai’s oncology drug discovery pipeline. Initially focusing on targets with a clearly-defined novel patient population biomarker, derived from its AI proteomics platform. The funding will also be used to expand data acquisition as well as increase its discovery activities via pharma partnerships.
“We are excited to announce this funding that supports our mission to enhance the drug development pathway from discovery through to commercialization,” said Eran Seger, CEO and co-founder of Protai.
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