US-based molecular-simulation software developer Schrödinger increased a funding round featuring pharmaceutical firm WuXi AppTec and internet and technology conglomerate Alphabet to $110m on Sunday.
Invus, Pavilion Capital, Tubus Management, Laurion Capital Management and several unnamed investors contributed to the $25m extension, which follows a $85m first tranche secured in January 2019.
Wuxi AppTec’s Corporate Venture Fund co-led the initial close with Bill and Melinda Gates Foundation Trust, the endowment arm of philanthropic organisation Bill and Melinda Gates Foundation. It also featured Alphabet subsidiary GV, Baron, Deerfield Management and Qiming Venture Partners.
Schrödinger provides computational software that helps pharmaceutical, biotechnology and chemical companies with drug discovery, screening potential targets, preparing targeted proteins and modelling small molecules.
The proceeds from the round will accelerate the company’s drug discovery pipeline and support the formation of strategic partnerships with biopharmaceutical companies. The company will also use it to fund research and development efforts, expand its technology platform and hire additional staff.
Bill Gates had previously led a $22m round for Schrödinger in 2015, having also led a $20m round in 2012. Gates’ Cascade Investment firm had already invested $10m in the company two years earlier.