Saturday, Sep 19, 2020
International Finance
Healthcare Magazine

Singapore-based biotech startup Gero raises 42.2 mn funding

The funding round was led by VC firm Bulba Ventures

Singapore-based artificial integrated (AI) biotech startup Gero has secured around $2.2 million in its Series A funding round, the media reported.

The funding round for Gero was led by venture capital firm Bulba Ventures.

Other existing investors of Gero also participated in its funding round.

The deal will see co-founder of Bulba Ventures Yury Melnichek joined Gero’s Board of Directors.

Gero’s founder Peter Fedichev said in the statement, “We are happy with the recognition and support from these strategic investors who themselves are acknowledged leaders in the fields of AI and biotechnology. This will help us attain the necessary knowledge at the junction of biological sciences and AI/ML technologies that is necessary for the radical acceleration of drug discovery.”

“We hope that the technology will soon lead to a meaningful healthspan extension and quality of life improvement,” he added.

The Singapore-based startup, which develops new drugs to combat aging and other disorders, has raised around $7.5 million in funding so far.

According to Gero, it will use the latest funds to further develop its AI platform for analysing clinical and genetic data to find treatments for “complicated” diseases, such as age-related chronic illnesses, mental illnesses and others.

Last month, Singapore-based healthtech startup Plano announced a strategic alliance with Japan’s Santen Pharmaceuticals, to tackle myopia.

Myopia is one of the most common health problems in the world, affecting an estimated 2 billion people, or about 28 percent of the world’s population. The number of people with myopia is expected to increase to 5 billion by the year 2050, which is about half of the world’s population.

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