Three PE/VC firms lead financing for AI-driven drug company

SoftBank Vision Fund 2, PICC Capital and Morningside co-led a $318 million financing of XtalPi, an artificial intelligence-based drug discovery and development company based in Massachusetts and China.

Founded in 2014 by a group of quantum physicists at MIT, XtalPi has since built a team with multi-disciplinary expertise in physics, chemistry, pharmaceutical R&D and algorithm design. XtalPi's cutting-edge technologies have led to the establishment of strategic partnerships with top international pharmaceutical companies.

The SoftBank Vision Fund was formed to accelerate the AI revolution through investments in market . . .

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