Verge Genomics Secures $98 Million in New Financing
December 16, 2021
SAN FRANCISCO–(BUSINESS WIRE)– Verge Genomics, a tech-enabled drug discovery company pioneering the use of artificial intelligence (AI) and human data to develop new drugs, announced today it has closed an oversubscribed $98 million equity financing. The Series B financing was led by funds managed by BlackRock and supported by new healthcare and technology investors, including Eli Lilly and Company, Merck Global Health Innovation Fund (Merck GHI), Section 32, and Vulcan Capital, alongside Verge’s existing investors, including Threshold Ventures, ALS Investment Fund, Tao Capital Partners, Lifeforce Capital, and others.
“We are thrilled that multiple stakeholders in our space, from leading pharmaceutical companies to healthcare and technology investors, recognize the potential of our human-centric AI platform to transform drug discovery for the most challenging diseases of our generation,” said Alice Zhang, co-founder and CEO of Verge Genomics. “Our platform has demonstrated its ability to identify novel targets from human datasets for these diseases and rapidly develop them into proprietary clinical candidates. With our Series B completed, the quality and breadth of our shareholder base allows us to validate our platform in the clinic. The addition of new clinical datasets has the potential to dramatically improve our self-reinforcing learning platform and accelerate us towards our mission of developing better drugs, faster.”
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