In the field of medical artificial intelligence, new drug discovery is still relatively unfamiliar to most people. Although the development of this segment is not as good as medical imaging, there has been a unicorn company, BenevolentAI. BenevolentAI is located in the King's Cross area of ​​London with a knowledgeable block. The company uses artificial intelligence technology to extract knowledge and new verifiable hypotheses that drive drug development from distracting mass information. The process of drug development.
In the fourth quarter of 2013 to the third quarter of 2015, BenevolentAI conducted a total of four rounds of financing, totaling 87.72 million pounds (about 100 million US dollars), with a valuation of 1.78 billion US dollars. Based on the amount of financing, BenevolentAI has become Europe's most valuable artificial intelligence startup, and can rank in the top five globally. In January 2017, it was named “Top 100 Global Artificial Intelligence Enterprises†by CB Insights.
Why BenevolentAI is favored by capital and pharmaceutical companies, the author interprets it.
Good entrepreneurs will get long-term support from capital
The company was founded in 2013 by Ken Mulvany and was originally called Stratified Medical. In October 2016, it was renamed BenevolentAI.
Ken Mulvany is a serial entrepreneur. In 2003, Ken Mulvany founded a pharmaceutical company, Proximagen. Proximagen is committed to providing new drugs and innovative new therapies for central nervous system (CNS) diseases. The company obtained two rounds of financing in June 2009 and September 2011 respectively, with a total amount of US$96.5 million. One of the investment institutions is Lingbei Pharmaceutical. In September 2012, Ken Mulvany sold Proximagen to US pharmaceutical company Upsher-Smith for $555 million.
The sale of Proximagen has created a good income for investors and has also accumulated a good reputation for Ken. So when Ken Mulvany founded BenevolentAI, the two former investment institutions and two pharmaceutical companies provided BenevolentAI with £8 million in angel financing, which was Lundbeck, Upsher-Smith and Woodford Investments. Management company and Lansdowne Partners.
R&D drugs have been burned and they have been combined with artificial intelligence. The eyes and guts of these investment institutions have to be admired. From the current Benevolent AI valuation of 1.78 billion US dollars, these institutions and pharmaceutical companies have made a profit.
There is also a small episode. Ulf Wiinberg, the former CEO of Lingbei Pharmaceutical, once received a gift from Ken, a share of BenevolentAI. In the process of property declaration, he missed this part, so he Lost your job.
On August 31, 2016, BenevolentAI split the business and established two wholly-owned subsidiaries: BenevolentBio and BenevolentTech.
BenevolentBio has inherited the main business of BenevolentAI and continues to focus on applying the company's technology to healthcare and drug discovery, and is committed to inflammation, neurodegenerative diseases such as Parkinson's, Alzheimer's, and other rare diseases.
BenevolentTech will continue to refine and develop the AI ​​engine that promotes bioscience discovery and will apply this technology to other areas.
Founder Ken Mulvany said: The purpose of this is to combine AI with biotechnology, chemical and pharmaceutical technologies, accelerate the development of innovative drugs, and then quickly promote this technology.
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