Chinese biopharmaceutical firm WuXi AppTec’s corporate venture fund and The Bill and Melinda Gates Foundation Trust have jointly led an $85-million financing round for drug discovery firm Schrödinger Inc.
According to Schrödinger’s announcement on Friday, the round was joined by life science and tech investors Deerfield Management, Baron, Qiming Venture Partners and GV (formerly known as Google Ventures).
The company plans to use the fresh funding to support its ongoing research and development efforts to extend the capabilities of its computational platform for drug discovery and materials research. It also plans to hire more scientists and developers to work on a growing pipeline of assets.
“Schrödinger has demonstrated that precise molecular design can significantly accelerate drug discovery and lead to unexpected solutions that stand to benefit patients. We’re pleased to support this exciting stage in Schrödinger’s growth,” said Bill Gates, who has led three previous investments in Schrödinger since 2010.
The company provides advanced molecular simulations and enterprise software solutions to accelerate and increase the efficiency of drug discovery and materials design. It has also co-founded biotech firms including Nimbus Therapeutics and Morphic Therapeutic.
The company currently has nearly 400 employees at its offices across the United States, Europe, Japan and India.