Israeli biopharmaceutical decision-making company citorisonTechnologies, which develops AI-powered computational disease models for predictive insights, today announced the completion of an $80 million funding round from OurCrowd, Nvidia, Pfizer, and Thermo Fisher Scientific.
Cytorison says it will use the new funds to expand the application of its models in additional indications, grow its molecular and clinical data, and establish an office in Cambridge, Massachusetts, later this year.
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Pfizer expands collaboration with disease modeling company CytoReason
CytoReason says it provides therapeutic leaders with molecular-level insights and valuable AI tools to make data-driven decisions, helping them improve the probability of Phase II success and optimize their R&D portfolio. Since announcing the expanded partnership with Pfizer in 2022, CytoReason has added three major pharmaceutical company partnerships, expanded its disease modeling coverage to include CNS diseases, and partnered with leading data organizations. Six of the world’s top 10 pharmaceutical companies use CytoReason technology to make data-driven decisions in immunology, inflammation, immuno-oncology, metabolism, and other therapeutic areas.
“CytoReason is grateful for this new influx of capital from industry giants like NVIDIA, Pfizer, and Thermo Fisher,” said David Harrell, co-founder and CEO of CytoReason. “The world has realized that data alone is not enough, and that the future of data-driven insights lies in data.
“We are excited to see another Israeli company leading the AI revolution in healthcare,” added OurCrowd CEO John Medved. “The strategic partnership between CytoReason and NVIDIA underscores this point. I am convinced that the participation of leading asset managers and key strategic partners in this funding round will propel CytoReason’s journey forward.”
This article was published in Globes, Israeli Business News – en.globes.co.il – on July 17, 2024.
© Copyright Globes Publisher Itonut (1983) Ltd., 2024.