Antiverse raises £2.5m from new and existing backers to fund in-house asset development.
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The financing was supported by new investors including InnoSpark alongside returning backers such as the Development Bank of Wales.
Antiverse is a techbio company that uses artificial intelligence and in-house laboratories to design therapeutic antibodies for complex disease targets. Headquartered in Cardiff, the firm develops treatments for conditions involving challenging molecular structures.
Cardiff-based biotechnology company Antiverse has secured £2.5m in funding to advance its in-house therapeutic assets. The investment round was backed by a coalition of new and existing venture capital firms and regional investors. The fresh capital will be directed towards developing the company's newly identified antibodies targeting G-protein-coupled receptors. This milestone follows the successful identification of functional antibody clusters using the firm's proprietary computational platform.
From the founder
"This is the most comprehensive validation of our platform thus far. While identifying antibodies to GPCRs has traditionally been a complex and time-intensive process requiring expensive specialist technology and training, we have demonstrated that Antiverse’s drug discovery platform can achieve this in a fraction of the time and cost. GPCRs are commercially interesting targets associated with various indications, and these antibodies offer a path to first in vivo results and can potentially be our first assets. I would like to thank our investors, this funding will enable us to continue to develop these assets in-house with our academic collaborators."
Murat Tunaboylu
Co-Founder and CEO at Antiverse
Investor perspective
"We see tremendous potential in the Antiverse platform. Their combination of AI-driven antibody design with proprietary laboratory validation shows great promise in targeting historically challenging GPCRs linked to cancer and a wide variety of other conditions. We congratulate the team on their achievement in the pursuit of bringing new treatments to patients."
Matt Fates
Partner, InnoSpark
Use of funds
- 01Continue product development
Investors
Matt Fates
InnoSpark
AngelHub
Kadmos Capital
Tomorrow Scale
Tensor Ventures
Deep Science Ventures
Development Bank of Wales
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