Drug discovery startup GTN lands £2.1m Seed from Octopus Ventures

May 4, 2018 · uktech.news

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London-based startup GTN has raised £2.1m in Seed funding in a round led by Octopus Ventures to transform drug discovery.

Pentech and existing investor Entrepreneur First also contributed to the round, which will be used to build on GTN’s drug discovery technology.

On average, bringing a new drug to the market costs $2.9bn and takes 15 years, with a high chance of failure; plus an expected 50% drop in R&D output every nine years.

GTN, a female-led company, has developed a technology called Generative Tensorial Networks. It combines and builds upon techniques from machine learning and quantum physics to simulate, filter and discover new molecules. The company says this will help bring efficiencies to the drug development cycle, discovering much-needed medicines for patients with cancer, autoimmune and infectious diseases.

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