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Chinese pharmaceuticals XtalPi secures $318.8 mn funding

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The funding round was jointly led by SoftBank’s Vision Fund 2

China-based pharmaceutical company XtalPi has secured around $318.8 million in its Series C funding round, media reports said.

The funding round for XtalPi was led by SoftBank’s Vision Fund 2, PICC Capital, PICC Group and VC firm Morningside Venture Capital.

Other investors that also participated include CICC Capital, the private equity arm of investment bank China International Capital Corporation (CICC); an investment fund of CMB International (CMBI) and Seoul-based financial services firm Mirae Asset.

XtalPi is an algorithm-driven artificial intelligence (AI) healthtech company that is reinventing the industry’s approach to drug research and development with its Intelligent Digital Drug Discovery and Development (ID4) platform. According to the company, the funding will be used to further develop XtalPi’s ID4 platform.

XtalPi is headquartered in Shenzhen but has offices in Beijing, Shanghai as well as Boston. The company has served more than 70 client so far across the US, Europe, and Japan.

In 2015, the pharmaceutical company raised around $5 million in its Series A funding round from investors such as Tencent. In 2018, it raised $46 million in its Series B1 funding round led by China Healthcare Fund. This was followed by $15 million raised in its Series B funding round led by Tencent, Google, and Sequoia Capital.

Earlier this year, XtalPi announced a strategic collaboration with Porton Pharma Solutions to integrate XtalPi’s next-generation computational tools with Porton’s experimental expertise to further empower pharmaceutical research in drug design and pre-clinical development.

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