Inceptive, a biotechnology startup headquartered in Palo Alto, and co-founded by one of the creators behind ChatGPT‘s technology, Jakob Uszkoreit, has reportedly secured $100 million in a fresh funding round. This investment was spearheaded by the prominent Silicon Valley entity, NVIDIA’s NVentures (known for investing in Moon Surgical and Outrider) and Andreessen Horowitz. The investment comes at a time when investors are betting big on startups that merge biotech and AI.
This funding round, which tripled Inceptive’s valuation to over $300 million reflects the rising confidence that AI can accelerate drug discovery. The company plans to harness the power of AI to create unique vaccine proteins and revolutionise drug development. Moreover, the funding grants Inceptive access to NVIDIA’s cutting-edge computing platforms, including its latest chips.
Deploys AI for pharmaceutical innovation
Founded in 2021 by former Google AI researcher Jakob Uszkoreit, Inceptive is actively working on an AI platform capable of crafting distinctive mRNA sequences. This development has the potential to transform the pharmaceutical landscape, with projections suggesting the emergence of approximately 700 mRNA-based drugs by the close of the coming decade.
The company aims to use artificial intelligence to design novel biological molecules for vaccines, therapeutics, and other treatments. With its technology, the company is poised to redefine the landscape of pharmaceutical innovation. Its technology allows Inceptive to rapidly create and test new molecular structures in the lab. The startup then licenses successful molecules to pharmaceutical partners to develop into new medicines.
Role of AI in pharma industry
A prediction by Morgan Stanley claims that there is a $50 billion investment opportunity for Big Pharma that can utilise AI. However, it’s essential to acknowledge the uncertainties that still loom over this landscape.
As AI continues to advance its presence in the pharmaceutical industry, it is essential to acknowledge that the majority of time and expenses in drug development are still primarily allocated to clinical trials, as opposed to the creation of molecular designs.
The safety and efficacy of Inceptive’s computer-generated compounds in human subjects are yet to be established. Nevertheless, the company’s collaborations with leading pharmaceutical firms indicate that its AI-based methodology shows considerable potential. Given that Inceptive’s counterparts such as London-based Benevolent AI faces some setbacks, including layoffs, we need to see how well Inceptive can overcome the challenges out there despite its immense potential.