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MindRank Raises $20 Million in A+ Round to Support AI Drug Development Operations

publication date: Jul 24, 2023

Shanghai MindRank, an AI-based drug discovery company, completed an A+ round of more than $20 million to develop its own drugs and discover new candidates for other biopharmas. The company raised $19 million in a 2021 A round. Last month, MindRank began a China Phase I study of its lead candidate, which is aimed at treating obesity and type 2 diabetes mellitus. MDR-001 is an oral β-arrestin 2 small-molecule glucagon-like peptide 1 receptor agonist that was discovered using MindRank's proprietary AI platform, Molecule Pro. The A+ financing was led by Cherami Investment Group. More details....

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