Oxford Drug Design, a biotech company with its own computing and machine learning platform, has raised £ 2.2 million in funding.
A branch of Oxford University, ODD has been at the forefront of computer-aided drug design with its dual-channel AI drug detection platform.
The company has recently entered a phase of expanding oncology, capturing molecular and biological features that allow machine learning models with enhanced predictive power and precision molecule selection.
The company is currently focusing on unmet therapeutic needs in oncology, initially against lung cancer and colorectal cancer.
Funding comes from existing investors ACF Investors, o2h Ventures, Meltwind Advisory, a number of returning angels, and new investors and the American R42 Group. The total amount of grants and equity funding of the firm is over £ 10 million.
This capital growth will enable ODD to continue its research and discovery of medicines, starting with research validation concepts to validate its innovative, innovative approach against cancer. It will also create a new commercial offering of its patented AI platform for pharmaceutical and biotechnology companies.
The proven OOD platform is increasingly in demand by third parties in the pharmaceutical space and is already generating revenue apart from the company’s direct work to identify oncology drugs. The investment will also go towards operational goals and further expansion ahead of this year’s Series A investment round.
Alan D. Roth, CEO of Oxford Drug Design, said: “We are excited to play an important role in innovating cancer treatments that lead to better outcomes for cancer patients worldwide.
“Our groundbreaking new approach needs to be initially validated by research with proof of concept. We are making rapid progress not only through our industry-leading drug detection program, but also through our own AI platform.
“This has led to a growing interest of third parties in our machine learning capabilities, so we are committed to taking advantage of this demand and establishing commercial efforts in this area.”