Dublin-based biotech Meta-Flux has announced a $2 million (€1.8 million) seed funding round to grow its AI-based platform that helps pharma teams validate drugs earlier and reduce failure.
The company has secured the backing of pharma executives from Pfizer, Merck and Gilead Sciences, along with tech leaders from Google and Amazon for its software, which is designed to reduce waste and delays in drug development.
The platform simulates disease biology, combining biological data such as genes, transcripts, proteins and metabolism to give a more holistic view.
“It is building a bridge between preclinical and clinical, using AI to build little bridges between these data sets,” said chief executive and cofounder Lee Sherlock.
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Founded in 2021, Meta-Flux has been working on building AI-driven models that will help further this goal. It has already begun commercialising the technology, winning a number of multiyear contracts.
Mr Sherlock said the goal of the technology is to give a “birds eye view” of the drug development maze, and test out all the potential routes for drugs.
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Chief technology officer and cofounder Brendan Martin said the priority for the money is building the team, with plans to hire four engineers based in Ireland in the coming months. It will also be used to acquire the data needed to build out the models.
“Data is difficult, but also the right data,” he said. “That’s a huge challenge. You don’t want to spend a lot of money and resources on building a model that is not going to benefit our customers and our future goals.”
Although the company has links with the US and plans to grow in collaboration with the US market, having a base in Ireland is important to its founders.
“Ireland has made a name in pharmaceutical manufacturing, but I think we overlook some of the innovation that comes out of here, and the platform that Ireland has the potential to build off,” said Mr Sherlock.
“There is innovation here, and there are fantastic minds. As a part of our tech team, we would definitely love to tap into that.”
