EvolutionaryScale, a US AI startup, has secured $142 million in seed funding to develop AI technology that can generate new proteins for research, drug discovery, and medical therapies. The funding will strengthen the company’s partnership with the biotech industry. EvolutionaryScale, founded in 2023, is supported by major companies like Amazon Web Services (AWS) and NVIDIA.
The company recently unveiled its latest product, ESM3, a Gen AI model that can create new proteins. ESM3 is capable of generating proteins that would have taken 500 million years to evolve naturally. This advancement is a significant step towards integrating AI into the field of biology, as stated by Alexander Rives, co-founder and chief scientist of EvolutionaryScale.
The collaboration between EvolutionaryScale, AWS, and NVIDIA ensures that the ESM3 model is accessible to researchers worldwide and to a large number of the leading pharmaceutical companies. This AI model can have various applications, such as developing cancer treatments and carbon capture.
According to GlobalData, the global AI market in the medical device industry is projected to grow at a CAGR of 29.1% from $336 million in 2023 to $1.2 billion in 2027. This growth indicates the increasing importance and impact of AI technology in healthcare and pharmaceutical research.
The partnership between EvolutionaryScale, AWS, and NVIDIA signifies a significant advancement in the field of AI-driven protein generation. This development has the potential to revolutionize scientific research and medical treatments by accelerating the process of protein discovery and synthesis. Ultimately, the goal is to leverage AI technology to enhance the efficiency and effectiveness of drug development and therapeutic interventions.
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https://www.verdict.co.uk/amazon-and-nvidia-backed-startup-evolutionaryscale-raises-142m-to-advance-protein-g/
