Beijing-based Phil Rivers Tech, a computational medicine-empowered drug developer, reportedly raised close to RMB 100 million (USD 14.9 million) in a Series A financing round. The funding was led by Insight Capital and Tenaya Capital, with participation from Highthink Med. The proceeds will be used for the upgrade of its computational medicine platform and the development of its self-developed product pipeline.
Company Background and Platforms
Phil Rivers Tech, incubated by the Institute of Computing Technology of the Chinese Academy of Sciences (ICT), boasts a new target and new mechanism presentation platform and a virtual clinical trial platform. These platforms are based on exclusive data and knowledge-driven artificial intelligence algorithms. They cover new targets, new mechanisms of action, and new biomarkers, and are capable of designing clinical trial protocols, predicting clinical trial results, and expanding new indications across six application scenarios.
Product Pipeline and Future Plans
The company is advancing multiple first-in-class pipelines targeting pancreatic cancer and other diseases. It is also working on new indication developments for marketed products. The funding will help accelerate these efforts and further enhance its capabilities in the field of computational medicine.-Fineline Info & Tech
