Tencent-backed US drug discovery firm Atomwise closes $123m Series B round

Atomwise, which uses artificial intelligence for structure-based small molecule drug discovery, has raised $123 million in an oversubscribed Series B round, according to a company statement on Tuesday. The San Francisco-based firm said it will use the proceeds to scale and build its own pipeline of experimental drugs.

The Series B round was led by global venture capital firm B Capital Group and Sanabil Investments, a commercial investment company owned by Saudi Arabia’s sovereign wealth fund, the Public Investment Fund. Atomwise has appointed Raj Ganguly, co-founder and managing partner at B Capital Group as a new board member, and Hani Enaya, head of VC at Sanabil, as a board observer.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter