Traditionally, building a portfolio of drug programs requires hundreds of millions of dollars and takes many years in the biopharmaceutical industry. The convergence of available biomedical data, affordable cloud computing, and advances in algorithms is now enabling companies to build these drug portfolios for an order of magnitude less money and in a fraction of the time it traditionally takes. This is precisely what twoXAR is doing.
twoXAR, Inc., an artificial intelligence (AI)-driven biopharmaceutical company, announced today that it has raised $10 million in Series A financing led by SoftBank Ventures, a SoftBank Group early stage venture capital arm.
At twoXAR we bring together a lot of disparate data to rapidly identify disease treatments. It’s through these different data that we gain our predictive power. However, more data isn’t always better — not if the new data is of poor quality. In other words, quantity doesn’t trump quality, and that’s because of a common data science saying: bad data in = bad data out.
twoXAR has been named as one of the inaugural MIT Startup Exchange (STEX) STEX25 companies. STEX25 is a select group of industry-ready startups that are actively promoted to members of the MIT Industrial Liaison Program (ILP).
Today we announced our collaboration with Santen, a world leader in the development of innovative ophthalmology treatments. Scientists at twoXAR will use our proprietary computational drug discovery platform to discover, screen and prioritize novel drug candidates with potential application in glaucoma. Santen will then develop and commercialize drug candidates arising from the collaboration. This collaboration is an exciting example of how artificial intelligence-driven approaches can move beyond supporting existing hypotheses and lead the discovery of new drugs.