Accutar Biotechnology, a US-based drug discovery company backed by smart vision technology provider Yitu Technology, has completed a round sized at tens of millions of dollars, Leiphone reported on Wednesday.
Investment manager Coatue and private equity firms 3W Healthcare Fund and YF Capital supplied the funding.
Founded in 2015, AccutarBio is working on artificial intelligence-equipped drug discovery technology. Two of more than 10 cancer therapy candidates in its pipeline are set to enter clinical trials later this year with two more slated to begin studies in 2022.
Yitu backed a series B round for the company in the eight-digit dollar range featuring CDH Fund, IDG Capital and Primavera Capital in December 2020, which likely represented the $28.5m provided by undisclosed investors according to a securities filing the following month.
The company had raised $20m in September 2020, another filing showed, and the round followed $28m in funding the year before, also from undisclosed investors.
Yitu had already participated in AccutarBio’s $15m series A round in 2017, which was led by IDG Capital, while ZhenFund had taken part in an angel round at an undisclosed date.
