US-based genomic drug developer Verge Genomics secured $32m in series A funding on Monday, from investors including pharmaceutical firm WuXi AppTec, which participated through its corporate venturing fund.
Venture capital firm DFJ led the round, which also featured the amyotrophic lateral sclerosis (ALS)-focused ALS Investment Fund, venture capital firm Agent Capital and VC fund OS Fund. DFJ partner Emily Melton will join the company’s board of directors.
Founded in 2015, Verge has created a drug development platform that utilises experimental biology and machine learning and neuroscience technology, and is working on treatments for Parkinson’s disease and ALS. It also runs large genomic databases covering patient data for both conditions.
Edward Hu, WuXi AppTec’s chief financial officer and chief investment officer, said: “Importantly, Verge’s integrated approach to drug development aligns patient data with animal models to ensure the use of appropriate translational research.
“With our investment in Verge, we continue to strategically build multiple relationships in the area of artificial intelligence and machine learning applying to drug discovery.”
The funding comes after a $4m seed round for the company in 2015 that was led by IA Ventures and backed by Two Sigma Ventures, Draper Associates, Great Oaks VC, Slow Ventures, Karlin Ventures and angel investors Elad Gil and David Lee.