AI Biotech Firm Turbine Secures $25M in Funding

Why it matters

- The funding round was led by Interactive Venture Partners and included participation from Beiersdorf Venture Capital, the corporate venture arm of the parent company behind NIVEA and Eucerin skin care brands. - Turbine's core technology, the "Simulated Cell," uses AI to create digital models of cancer cells, allowing researchers to conduct millions of virtual experiments to predict how cells will react to different drugs and identify new treatment strategies. - This new funding will help Turbine expand its platform beyond oncology into new areas like immunology and dermatology, with a new partnership already established with a top 10 pharmaceutical company to model immune cell behavior. - The company was co-founded by a diverse team, including Kristof Szalay, a computer scientist turned biochemist; Daniel Veres, a medical doctor and cancer researcher; and Szabolcs Nagy, a serial entrepreneur. - Turbine already has a track record of collaborating with major pharmaceutical companies, including MSD (Merck & Co.), AstraZeneca, and Bayer, on more than 30 drug discovery programs. - The company's technology aims to solve a critical problem in medicine: over 90% of drug candidates fail in clinical trials, and by simulating experiments, Turbine can help select more promising candidates. - Turbine’s "Virtual Lab" is a no-code platform, meaning scientists can design and run simulated experiments without needing to be programmers themselves, making the technology more accessible to biologists and clinicians. - The AI in drug discovery market is a rapidly growing field, with projections suggesting it could reach over $13 billion by 2032 as more pharmaceutical companies adopt AI to reduce the time and cost of developing new medicines.

Key numbers

• Budapest-based AI biotech company Turbine raised $25 million in a Series B funding round.
• This new funding will help Turbine expand its platform beyond oncology into new areas like immunology and dermatology, with a new partnership already established with a top 10 pharmaceutical company to model immune cell behavior.
• Turbine already has a track record of collaborating with major pharmaceutical companies, including MSD (Merck & Co.), AstraZeneca, and Bayer, on more than 30 drug discovery programs.
• The company's technology aims to solve a critical problem in medicine: over 90% of drug candidates fail in clinical trials, and by simulating experiments, Turbine can help select more promising candidates.

What happens next

• Turbine's core technology, the "Simulated Cell," uses AI to create digital models of cancer cells, allowing researchers to conduct millions of virtual experiments to predict how cells will react to different drugs and identify new treatment strategies.
• This new funding will help Turbine expand its platform beyond oncology into new areas like immunology and dermatology, with a new partnership already established with a top 10 pharmaceutical company to model immune cell behavior.
• The company's technology aims to solve a critical problem in medicine: over 90% of drug candidates fail in clinical trials, and by simulating experiments, Turbine can help select more promising candidates.

Sources

• Turbine raised
• The funding round was
• Turbine's core technology
• This new funding will
• The company's technology
• The AI in drug discovery

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