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OpenAI-Backed Chai Reaches $1.3B Valuation for AI Drug Design
16 Dec
Summary
- Chai secured $130 million in Series B funding, valuing it at $1.3 billion.
- The biotech startup uses AI to accelerate the drug discovery and design process.
- Chai's latest AI model, Chai 2, shows improved success in designing custom antibodies.
Chai Discovery, a biotech innovator backed by OpenAI, has successfully closed a $130 million Series B funding round, propelling its valuation to $1.3 billion. This substantial financial milestone, led by prominent investors General Catalyst and Oak HC/FT, brings the company's total funding to over $225 million since its inception.
The company is leveraging artificial intelligence to revolutionize drug development, aiming to significantly expedite the process. Chai's core mission is to develop a "computer aided design suite" for molecules, enabling faster and more efficient discovery of potential cures. Their latest advancements include the Chai 2 AI model, which reportedly achieves superior success rates in de novo antibody design.
This funding will likely fuel further innovation in Chai's pursuit of building foundation models tuned for drug discovery. CEO Josh Meier stated that their models can now design molecules with desirable drug-like properties and target challenging diseases, positioning Chai as a key player in the future of pharmaceutical research and development.
