VeriSIM Life secured $15 Million in Series A funding

VeriSIM Life, a California based AI-enabled, R&D decision de-risker for breakthrough drug development, has secured $15 million in a Series A funding round.

VeriSIM Life was founded by Dr Jo Varshney in the year 2017. It has developed a computational platform that leverages advanced AI and ML techniques to improve drug discovery and development by reducing the money and time it takes to bring a drug to market.

Dr Jo Varshney, founder and CEO of VeriSIM Life, said, "We are excited to partner with these strategic investor groups to expand our platform so pharma/biotech companies can make more informed decisions on investigational drugs. This new funding will allow us to accelerate our growth and bring the future of more efficient, cost-effective clinical trials to life. Our goal is to make VeriSIM the gold standard in addressing the translational gap in the industry."

Morpheus Ventures’ partner, Damien Petty, said, "VeriSIM has surpassed customer expectations in delivering better, faster and more comprehensive development decisions. We have long believed in the disruptive potential of applying AI/ML to challenging problems. While others have made progress applying AI to fixing the drug discovery process, the long and costly post-discovery development phase has been largely overlooked. VeriSIM is unique in applying physics-based AI/ML models to disrupting the drug development phase to achieve significant results for its customers and partners."

The round was backed by the Morpheus Ventures with participation from Colorcoon Ventures and Debiopharm Innovation Fund and existing investors Intel Capital, Susa Ventures, OCA Ventures and Serra Ventures.

The company, as of now, has plans to use the new funds to expand operations, fast track its sales and marketing efforts and continue work on transformation partnership with academia and industry, notes the announcement.