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Press release content from Business Wire. The AP news staff was not involved in its creation.

Schrödinger Announces Close of Latest Financing, Raising Total of $110 Million

May 19, 2019

NEW YORK--(BUSINESS WIRE)--May 19, 2019--

Schrödinger today announced that several new investors have joined its latest funding round, which was completed with a total raise of $110 million to support continued advancement of the company’s industry-leading computational platform and expansion of its therapeutic pipeline.

New investors include Invus, Pavilion Capital, Oculus co-founder Michael Antonov through his investment fund, Tubus Management, Laurion Capital Management, and others. Previous investors in the round included the Bill and Melinda Gates Foundation Trust, WuXi AppTec’s Corporate Venture Fund, Deerfield Management, Baron, Qiming Venture Partners, and GV (formerly Google Ventures).

“Our platform has been validated again and again across hundreds of targets in real-world drug discovery projects,” said Schrödinger CEO Ramy Farid, Ph.D. “We are committed to leveraging the platform to speed the discovery of new medicines, and we’re delighted to receive such broad support from investors to further our mission.”

The funding will support the advancement of Schrödinger’s wholly-owned drug discovery pipeline and enable continued expansion of the company’s collaborations with biopharma companies worldwide. These partnerships have already led to two FDA-approved oncology drugs, several clinical-stage assets, and more than two dozen additional programs moving through discovery and development.

The investment will also support Schrödinger’s ongoing research and development efforts to extend the reach of its proprietary technology platform, which integrates novel physics-based molecular simulations and machine learning to enable exploration of vastly more chemical space than is possible through traditional drug discovery methods. This expanded and accelerated exploration opens new frontiers for discovery of novel compounds for both therapeutic indications and materials design.

About Schrödinger

Schrödinger has a substantial and growing global business, licensing its industry-leading computational platform to pharmaceutical, biotechnology, chemical, and electronics companies to accelerate R&D in both drug discovery and materials design. Schrödinger has built a robust pipeline of therapeutic assets, held both internally and in partnerships, and has co-founded leading biotech companies, including Nimbus Therapeutics and Morphic Therapeutic. Schrödinger’s significant and ongoing investment in basic research continues to drive advances in its computational platform. Founded in 1990, Schrödinger has nearly 400 employees in its New York City headquarters and around the world. Visit schrodinger.com for more information.

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SOURCE: Schrödinger

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PUB: 05/19/2019 07:00 AM/DISC: 05/19/2019 07:00 AM


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