Biotech startup Gero has raised $2.2 million in a Series A round led by Belarus-based Bulba Ventures, the Singapore-based startup said in a press release on Tuesday.
The financing brought the total capital raised by the firm to more than $7.5 million, the company said. Gero had raised seed funding in May 2019, according to Crunchbase data.
Previous investors and serial entrepreneurs in the pharmaceutical, IT and AI fields also participated in the latest round, Gero said.
Yury Melnichek, the co-founder of Bulba Ventures, has joined Gero’s board of directors following the investment.
Gero plans to use the funds to continue developing its AI platform for analysing clinical and genetic data to find treatments for “complicated” diseases, such as age-related chronic illnesses, mental illnesses and others.
“We are happy with the recognition and support from these strategic investors who themselves are acknowledged leaders in the fields of AI and biotechnology. This will help us attain the necessary knowledge at the junction of biological sciences and AI/ML technologies that is necessary for the radical acceleration of drug discovery,” Gero’s founder Peter Fedichev said in the statement.
“We hope that the technology will soon lead to a meaningful healthspan extension and quality of life improvement,” he added.
Gero said it has used large datasets of medical and genetic information from large numbers of people and located a protein in blood which, when blocked, should spur “rejuvenation.” Experiments involving aged animals have demonstrated improvements after treatment, Gero said.
The company’s platform is also being used to develop drugs for other areas, including for potential COVID-19 treatments, the statement said.