The financing round was backed by ACF Investors, o2h Ventures, Jonathan Milner, and R42 Group.
"This latest funding will enable us to build on and accelerate our successful computational design-led discovery focus. We are excited to be playing a pivotal role in the innovation of oncological treatments leading to better outcomes for cancer patients worldwide. Our groundbreaking new approach stands to be initially validated by the proof-of-concept studies. We are achieving rapid progress not only with our industry-leading drug discovery programme, but also our proprietary AI platform. This has led to increasing interest from third parties in our machine learning capabilities, so we are keen to capitalise on this demand and establish a commercial effort in this area"
Koch Disruptive Technologies led the Series B round to support the commercialisation of the Veros diagnostics platform.
"This Series B round is crucial in providing us with the resources to grow our Veros platform to revolutionize decentralized point-of-care testing; and it is particularly important as we commercialize our Veros COVID-19 test, which delivers laboratory quality results directly to users within minutes, without an instrument. This will be an essential tool in the effective management of outbreaks of this and other diseases,"
The financing round was led by BGF with participation from new and existing backers to support clinical development.
"We are thrilled to include this exceptional group of investors in PhoreMost’s Series B funding round. We are grateful for the continued support of existing investors and are delighted to welcome BGF, alongside strategic investors XtalPi with whom we have a highly valued ongoing research collaboration, and Astellas Venture Management."
