Schrödinger Pools In $85 Million Funding For Drug Discovery Platform

Schrödinger Pools In $85 Million Funding For Drug Discovery Platform

$85 Million has been pooled in financing to support its computational platform and expanding pipeline by Schrodinger, a new york based drug discovery company that uses advanced molecular simulations.

The latest round of funding was led together by WuXi AppTec Corporate Venture Fund and Bill and Melinda Gates Foundation Trust. Deerfield Management, Viking Venture Partners and GV, formerly Google Ventures also joined in the form of funding.

The company added that it plans to hire more scientists and programmers as it expands its drug discovery teams focusing on possible new compounds directed in a variety of indications.

Schrodinger’s Chief executive Ramy Farid said that this $85 million investment won’t just aid in advancing their technology platform but will also help their customers accelerate their job in life science & material design.

In October, Schrödinger and WuXi AppTec unveiled a joint venture dubbed Faxian Therapeutics, which uses the organization’s drug discovery platform to identify new targets and create new drugs which will move through WuXi’s CRO services. Takeda, Sanofi, and other companies have also joined hands with Schrodinger.