US-based drug developer Qrativ has launched with $8.3m of series A funding from investors including medical research group Mayo Clinic.
The series A round also featured private equity firm Matrix Partners, investment manager Matrix Capital Management and Andrew Badley, Qrativ’s co-founder and chief medical officer.
Mayo Clinic and artificial intelligence software provider Nference co-launched Qrativ, which will combine Nference’s AI-driven knowledge platform with Mayo Clinic’s medical data and expertise to discover new treatments for diseases not yet gaining the requisite medical needs.
Qrativ’s platform, Darwin.ai, will facilitate systematic drug purposing: the exploration of all possible uses for drugs in an early stage of their development. Mayo Clinic said it will use revenue from Qrativ to support the delivery of education, research and patient care.