Bio Tech Startup Antiverse Secures $10M to Fast-Track AI Drug Discovery

• Wales-based biotech company Antiverse has raised $4.6 million in seed funding.
• AI and biotech startups are continuing to attract millions in funding.
• Samsung recently acquired AI MedTech company Sonio in a deal reportedly worth $93 million.

Biotech company Antiverse has announced that it has secured $4.6 million in seed funding to continue the development of its antibody design programs.

The move marks the latest in a long line of AI and biotech firms to secure funding, as investors flock to splash their cash on startups working with emerging technologies.

Antiverse Funding

The new round of funding will help facilitate Antiverse’s growth and strengthen its current partnerships with pharmaceutical companies, the company said  in a news release.

The cash injection, led by i&i Biotech Fund I (i&i Bio) will also help Antiverse expand its AI and laboratory and machine learning teams, with new facilities planned for Prague and Boston.

“Antiverse has made significant progress in the field of antibody design,” Jaromir Zahradka, CEO at i&i Bio, said.

Antiverse uses an AI machine-learning-centered platform for the design of antibodies to use in needed therapies to patients.

The biotech platform uses “target-specific libraries” designed with structural and sequence data to create the best possible library of antibodies against the target. Antiverse says the platform accelerates the antibody discovery process to 6 months.

Samsung’s Foray Into Med Tech

In September, Samsung acquired AI MedTech company Sonio in a deal reportedly worth $93 million.

French startup Sonio develops AI that helps physicians analyze ultrasound scans with more efficiency and accuracy.

Samsung’s interest in the MedTech sector has spanned over a decade, first beginning in 2010 with its acquisition of Medison.

Over ten years on from the initial purchase, Samsung Medison has emerged as a leading manufacturer of medical imaging equipment.

The Rise of AI and Biotech

The global AI sector secured $24 billion in venture capital funding in the second quarter of 2024, representing 30% of global venture capital investment, according to research  from Story Pitch Decks.

Meanwhile, Biotech firms secured $17 billion in the same quarter “securing its position as a critical area for investment due to its potential in healthcare and medicine,” the company wrote.

This investment reflects the interest in startups that leverage AI in healthcare to address real-world problems, such as reducing diagnostic errors and cutting costs.

AI’s proven ability to enhance diagnostic precision and improve operational efficiencies has increased investor confidence in its potential, making them an attractive opportunity to venture capitalists.

AI and biotech is also easily scalable, making the technologies an attractive possibility to investors looking for a large return on their investment.

Traditional healthcare systems have-long struggled with scaling due to limitations in workforce and resources, AI is providing innovative startups with an answer to this problem.