Aqemia Raises $38 Million to Develop New Drugs Using Theoretical Physics and Generative Artificial Intelligence

French Startup Aqemia Leverages Quantum-Inspired Physics and Machine Learning to Discover New Drugs

In a significant development in the field of drug discovery, French startup Aqemia has raised $38 million in funding from San Francisco-based VC firm Cathay Innovation. This fresh injection of capital takes Aqemia’s total funding to over $100 million, further solidifying its position as a leader in AI-enabled drug discovery.

Aqemia: Revolutionizing Drug Discovery with Quantum-Inspired Physics and Machine Learning

Founded in Paris by Maximilien Levesque and Emmanuelle Rolland-Martiano in 2019, Aqemia is one of the many startups leveraging AI to accelerate drug discovery. The company’s approach involves combining quantum-inspired physics and machine learning algorithms to train a generative AI system. This system then helps design potential drug candidates for critical diseases, with an initial focus on oncology (cancer) and immuno-oncology (using the body’s immune system to fight cancer).

How Aqemia Works

Aqemia’s approach negates the need for experimental data, which is costly and time-consuming. Instead, the company uses algorithms to generate synthetic data that predicts the properties of potential drug molecules and how they might interact with their target. This innovative method enables Aqemia to identify promising candidates more efficiently than traditional methods.

Aqemia’s Second Fundraise of the Year

This $38 million raise follows a previous €30 million ($31.5 million) funding round in January, which brings Aqemia’s total funding to over $100 million. The company plans to use this new capital to bolster its recruitment efforts and expand its presence globally.

New Office in London

As part of its expansion plans, Aqemia is set to open a new office in London in early 2025. This move will provide the company with access to the UK’s rich talent pool and enable it to tap into the region’s expertise in AI and life sciences.

Global Ambitions

Aqemia’s partnership with Cathay Innovation, a global VC firm with a strong presence in the US and Asia, is expected to open doors to new markets for the company. Levesque noted, "Less than a year after our last round, this successful fundraising and the opening of our new London office mark significant strides toward our ambition to accelerate the discovery of new medicines on a global scale."

Existing Investors Participate in Latest Round

In addition to lead backer Cathay Innovation, Aqemia’s latest funding round saw participation from existing investors Wendel, Bpifrance Large Venture, Eurazeo, and Elaia.

Related Developments in AI-Enabled Drug Discovery

Aqemia is not the only startup making waves in AI-enabled drug discovery. In 2024 alone, we’ve seen:

Healx raise $47 million to tackle rare diseases
Sam Altman-backed Formation Bio raise $372 million
Xai raise $1 billion in funding

Google DeepMind’s Alphafold

Google DeepMind’s Alphafold, an AI system that accurately predicts protein structures, has made significant contributions to the field of drug discovery. Demis Hassabis and John Jumper, the CEO and Director of Google DeepMind respectively, shared one-half of the Nobel Prize in chemistry for their work on Alphafold.

Aqemia’s Impact

Aqemia’s innovative approach to AI-enabled drug discovery has already made a significant impact in the industry. Last December, the company signed a multi-year agreement with French pharmaceutical giant Sanofi, which could be worth up to €1 billion ($1.1 billion) over five years.

Conclusion

Aqemia’s latest funding round and plans for global expansion demonstrate its commitment to revolutionizing drug discovery through AI. With its innovative approach and significant investment from Cathay Innovation, Aqemia is poised to make a major impact in the industry.