Drug discovery startup GTN lands £2.1m Seed from Octopus Ventures

May 4, 2018 · uktech.news

Noornew2 898x505

London-based startup GTN has raised £2.1m in Seed funding in a round led by Octopus Ventures to transform drug discovery.

Pentech and existing investor Entrepreneur First also contributed to the round, which will be used to build on GTN’s drug discovery technology.

On average, bringing a new drug to the market costs $2.9bn and takes 15 years, with a high chance of failure; plus an expected 50% drop in R&D output every nine years.

GTN, a female-led company, has developed a technology called Generative Tensorial Networks. It combines and builds upon techniques from machine learning and quantum physics to simulate, filter and discover new molecules. The company says this will help bring efficiencies to the drug development cycle, discovering much-needed medicines for patients with cancer, autoimmune and infectious diseases.

Read Complete Article

RT @LDN_CDO: V pleased @LDN_gov today publishes - free-to-use - ‘GLA OPS’ code we’ve developed for over £4bn of grant-making for housing &…

Westminster tube station is now open. Police are in the process of removing wider cordons & Parliament Square has r… https://t.co/Y60ubhiPzX

#TechX365: only 4% of the UK has access to full-fibre broadband, compared to South Korea's 93% https://t.co/SviTadr2Fj

How an airline with just six planes came up with the world's best in-flight entertainment https://t.co/ICXnyl3gKd

How to grow revenue using this 7-step customer retention process via @jeffbullas https://t.co/Q1p11anYjI #strategy