Colorcon Ventures Invests in Industry Leading AI Provider for Drug Discovery Atomwise
Colorcon Ventures Invests in Industry Leading AI Provider for Drug Discovery Atomwise
Atomwise provides rapid and cost-effective compound screening to address pharmaceutical R&D productivity
HARLEYSVILLE, PA. August 12, 2020 – Colorcon Ventures, a $50 million corporate venture fund of Colorcon Inc., has invested in Atomwise, a leading provider of artificial intelligence (AI) solutions for drug discovery and inventor of the first deep learning AI technology for structure-based drug design. The company’s technology, called AtomNet®, removes the barriers of physical screening that have limited the success of traditional methods for small molecule drug discovery. Today, AtomNet® screens libraries of over 16 billion molecules against novel biological targets in less than two days.
Martti Hedman, CEO at Colorcon, said “Atomwise aligns with the Colorcon Venture fund’s strategic focus on developing transformational technology solutions for the pharmaceutical industry, and Colorcon will be a strong partner for the company. R&D productivity is a major pain point for the pharmaceutical industry. Atomwise is the leading company using AI for small molecule drug discovery, enabling significant time and cost savings for our global customer base. We embrace Atomwise’s approach to partnering with leading pharmaceutical companies in their research & development efforts and are open to strategic alignment with our customers where appropriate.”
Abraham Heifets, Atomwise’s co-founder and CEO, said, “We are pleased to have Colorcon Venture's support as we scale Atomwise. With their support, we will be able to further our mission to make better medicines faster and improve the lives of billions of people.”
About Colorcon Ventures
Colorcon Ventures targets investments in transformational solutions for the pharmaceutical industry, across manufacturing, supply chain, and the delivery of pharmaceutical products and services. Colorcon Ventures is the corporate venture fund of Colorcon Inc., a trusted design and development partner to over 4,000 pharmaceutical companies, around the world, providing expertise to fast track pharmaceutical formulation and manufacturing.
For more information, please visit www.colorcon.com/ventures or follow @ColorconVC
About Atomwise
Atomwise Inc. invented the first deep learning AI technology for structure-based small molecule drug discovery. Created in 2012, today, Atomwise performs hundreds of projects per year in partnership with some of the world’s largest pharmaceutical and agrochemical companies, as well as more than 200 universities and hospitals in 40 countries. AtomNet®, its AI platform built for drug discovery contains more than 16 billion molecules for virtual screening. Atomwise has raised over $174 million from leading venture capital firms to support the development and application of its AI technology. Learn more at atomwise.com or follow @AtomwiseInc.
Colorcon Ventures
Corporate Communications Contact:
Shahrzad Missaghi
Senior Manager - Product Development
