Online investment platform OurCrowd has invested in CytoReason as part of an $80 million funding round. OurCrowd joined a group of big names in supporting the firm as NVIDIA, Pfizer, and Thermo Fisher all participated in the funding round. Bank Hapoalim was said to have provided structured financing through its Tech Sector, Business Banking Division.
CytoReason is already an OurCrowd portfolio company as the company has previously raised $16,617,224 in four prior offerings on the platform.
CytoReason is said to be developing computational disease models that will not only reduce R&D timelines but also improve the probability of success and regulatory approval across the life sciences. CytoReason aims to provide “molecular-level insights” and AI tools to make data-driven decisions, to boost the probability of success and optimize R&D portfolio.
CytoReason is expected to use the funding to expand the application of its models into additional areas.
CytoReason previously revealed a partnership with Pfizer in 2022. It says it has now added three major pharma partnerships, expanding its coverage of disease models to the central nervous system (CNS)- related diseases.
Reportedly, six of the world’s top ten pharma companies use CytoReason’s tech to make decisions in immunology, inflammation, immuno-oncology, metabolism, and other therapeutic areas.
While thanking the investors, David Harel, co-founder and CEO of CytoReason, said the world understands that data alone is not enough and insights need data modeling. “CytoReason is at the forefront of this revolution in pharma R&D.”
Jon Medved, CEO of OurCrowd, commented:
“We’re thrilled to see yet another Israeli company leading the way in healthcare’s AI revolution. CytoReason’s strategic partnership with NVIDIA only emphasizes this point. I’m convinced that the involvement of leading asset managers and critical strategic partners in this funding round will further propel CytoReason’s journey.”
Typically, OurCrowd makes the investment and then lists the offering on its online investment platform, making it available for smaller (Accredited) investors. Minimums usually are $10,000.
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