AI startup OutSee Secures £1.8M in Seed Funding to Expand Artificial Intelligence Applications in Therapeutic Development
OutSee, a pioneering genomics and drug discovery company, has announced the successful acquisition of £1.8 million in seed funding. The investment was led by Ahren Innovation Capital, with additional support from Kadmos Capital, Empirical Ventures, and Panacea Ventures.
The funding will enable OutSee to leverage the full potential of its proprietary technology, Nomaly, to uncover new therapeutic targets and bolster its in-house pipeline. Nomaly predicts disease and phenotype directly from a single genome, offering a next-generation genomic analysis tool with the potential to transform drug discovery.
Dr Julian Gough, CEO and Founder of OutSee, commented, "Nomaly technology is a next-generation genomic analysis tool with the potential to revolutionize drug discovery." He further added, "This investment will support our growth strategy, focusing on expanding our in-house target discovery program and establishing new strategic partnerships."
The use of AI in predictive genomics is rapidly transforming the drug discovery landscape. Key technologies, such as protein folding prediction, virtual screening, molecular modeling and simulation, generative AI for novel molecule design, predictive toxicology, and drug repurposing, are offering innovative approaches to molecule design, target identification, and toxicity prediction.
Dr Joanna Green, Principal of Ahren Innovation Capital, stated that OutSee's genomics-first approach goes beyond existing technologies, enabling precise data combing. "Nomaly uses hypothesis-free, predictive modelling to draw conclusions from the fundamental molecular and cellular biology of the genome," she explained.
OutSee's technology has been developed for use across a broad range of application areas, with the in-house program initially focused on CNS, rare, and metabolic diseases. The company remains open to additional investment opportunities and welcomes enquiries from pharma and biotech industry partners.
Dr Paul Wallace, Chair of OutSee, expressed gratitude to investors and partners for their support and confidence in OutSee's mission. "We look forward to seeing OutSee's continued growth and success, and to working closely with the team to support them through their journey," he said.
Previously, OutSee received over £500k in precision medicine grants from Innovate UK to support technology extensions and to test their application on dementia case studies. With the recent seed funding, OutSee is poised to make significant strides in the field of drug discovery, unlocking a deeper understanding of genomic data, discovering new therapeutic targets, and driving the development of next-generation treatments for various human diseases.
Science and technology have significant roles in OutSee's mission to revolutionize drug discovery. The funding from investors will amplify the application of the Nomaly technology, a next-generation genomic analysis tool, in the discovery of new therapeutic targets and the development of next-generation treatments for various human diseases, making substantial strides in the field of science.
