Science

New Equilibrium Biosciences Raises $ 10 Million in Seed Funding

New equilibrium biosciences, a Cambridge, Massachusetts-based company that promotes rational drug design against intrinsically disordered proteins (IDPs), closed $ 10 million in seed funding.

RA Capital Management made the investment. New Equilibrium previously closed $ 350,000 in grants from the National Science Foundation and the Massachusetts Life Sciences Center, as well as a $ 250,000 pre-seed from the Petri Life Sciences incubator in Boston. Petri pledged an additional $ 500,000 for the $ 10 million seed.

The company intends to use the funds to expand its R&D facilities, expand the team and accelerate programs targeting IDPs while exploring strategic partnerships.

Led by Founder and CEO Dr. Virginia Burger, New Equilibrium provides a platform that reveals opportunities for structure-based design by learning biophysics with AI. The NEQ platform combines AI and biophysics to reveal experimentally invisible conformations of shape-shifting proteins. This technology enables the rational design of drugs targeting the elusive class of inherently disordered proteins, including many of the most desirable targets for cancer, neurodegeneration and other indications.

Prior to founding New Equilibrium in 2019, Dr Burger led scientific collaborations at the IA drug discovery company XtalPi and performed postdoctoral research in IDP biophysics at MIT. Its co-founder, Dr Peter Tompa, Chairman of the Scientific Advisory Board, is Professor of Biochemistry at the Flemish Institute of Biotechnology (VIB) who has led research on the relationship between the structure and function of IDPs since the emergence of the field. .

RA Capital’s Entrepreneur in Residence and Head of Computational Chemistry, Dr Soumya Ray – previously at Schrödinger – will join New Equilibrium as Chief Technology Officer.

FinSME

04/05/2021

Back to top button

Adblock Detected

Please consider supporting us by disabling your ad blocker