{"id":51115,"date":"2022-11-22T08:02:33","date_gmt":"2022-11-22T07:02:33","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/turbine-raises-e20-million-in-series-a-financing-to-advance-programs-partnerships-towards-the-clinic-with-worlds-first-cancer-cell-simulation-platform\/"},"modified":"2022-11-22T08:02:33","modified_gmt":"2022-11-22T07:02:33","slug":"turbine-raises-e20-million-in-series-a-financing-to-advance-programs-partnerships-towards-the-clinic-with-worlds-first-cancer-cell-simulation-platform","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/turbine-raises-e20-million-in-series-a-financing-to-advance-programs-partnerships-towards-the-clinic-with-worlds-first-cancer-cell-simulation-platform\/","title":{"rendered":"Turbine Raises \u20ac20 Million in Series A Financing to Advance Programs & Partnerships Towards the Clinic with World\u2019s First Cancer Cell Simulation Platform"},"content":{"rendered":"
\n

\n— Turbine\u2019s Simulated Cell\u2122 platform identifies novel cancer treatments and high unmet need patient groups to target where current experimental or computational approaches fail to succeed<\/i>\n<\/p>\n

LONDON & BUDAPEST, Hungary–(BUSINESS WIRE)–Turbine, a company developing a cell behavior simulation platform, today announced the closing of a \u20ac20 million Series A financing round. Mercia and MSD Global Health Innovation (GHI) Fund (MSD is the trade name of Merck & Co., Inc., Rahway NJ, USA) co-led the financing, joined by Day One Capital and existing investors Accel, Delin Ventures, and XTX Ventures. In conjunction with the financing, MSD GHI Fund and Mercia Asset Management have delegated members to Turbine’s new Board.\n<\/p>\n

<\/a><\/p>\n

\nTurbine will use the financing proceeds to drive its next generation, potential first-in-class programs targeting DNA Damage Repair. These programs were the first ever to be selected using Turbine\u2019s proprietary Simulated Cell, which revealed relationships not described in public data before. Turbine leverages its technology at every stage of development, identifying associated biomarkers and combination strategies, as well as selecting in vitro<\/i> and in vivo<\/i> biological models for experimental validation. Turbine partners with biopharmaceutical companies seeking to deploy simulation to understand patients and overcome causes of resistance hindering drug development efforts in the clinic. Simulated Cells have already guided the pipelines of several global partners generating multiple predictions currently in clinical validation, including Bayer and two of the top 20 pharma companies by global revenue in 2021. Furthermore, the technology successfully identified dozens of clinically validated targets invisible to any other computational approach.\n<\/p>\n

\n\u201cMSD GHI looks forward to enabling acceleration of Turbine\u2019s growth and expansion,\u201d said David M. Rubin, Ph.D., Managing Director, MSD GHI Fund. \u201cWe believe Turbine\u2019s Simulated Cell has the potential to transform key aspects of the oncology drug discovery and development process, providing insight at scale that will shed light on even the most challenging biological mechanisms.\u201d\n<\/p>\n

\n\u201cWhile Mercia has a long track record of investing in companies using AI technologies for life sciences and healthcare, Turbine is one of our first investments in an AI platform designed to address historic challenges to drug development,\u201d said Daniela Tsoneva, Investment Manager, VCT Funds at Mercia. \u201cTurbine\u2019s core technology is highly differentiated and already validated by early work with large pharma partners. We are excited to support Turbine as it advances the Simulated Cell, deepens our collective understanding of cancer biology, and makes drug development more efficient and more successful across the biopharma industry.\u201d\n<\/p>\n

\n\u201cThe idea sprung from our frustration that conventional experiments frequently lead to expensive and time-consuming drug development failures,\u201d said Szabolcs Nagy, Chief Executive Officer and Co-founder, Turbine. \u201cWe\u2019ve come a long way since 2016, when a handful of biologists and data scientists bootstrapped a technology to predict experiments better reflecting patients and more likely to translating in the clinic. With over 60 experts across the globe and the support of investors like MSD Global Health Innovation Fund and Mercia Asset Management, we\u2019re poised to demonstrate that simulations not only reveal new ways of treating cancer but increase the likelihood of success at every single step of the drug development process.\u201d\n<\/p>\n

\nOsborne Clark LLP provided legal advice to Turbine on the transaction. Paul Hastings LLP and Green Shoots Consulting advised the MSD Global Health Innovation Fund and Eversheds Sutherland acted for Mercia.\n<\/p>\n

\nAbout Turbine<\/b>\n<\/p>\n

\nBased in London, UK, with offices in Budapest, Hungary and Cambridge, UK, Turbine was founded in 2016 by Kristof Szalay, Ph.D., Daniel Veres, M.D., Ph.D., and Szabolcs Nagy to overcome the limitations of existing methods in identifying oncology treatments that truly benefit the patients who receive them by combining molecular biology and artificial intelligence (AI). Since its founding, Turbine has developed and validated the Simulated Cell\u2122, a proprietary and cutting-edge platform that runs billions of simulations prior to ever initiating preclinical development guiding real-life experiments with invaluable biological insights. This improves the likelihood of success for truly novel therapies and allows existing assets to be optimally targeted to patients most likely to benefit from them. Turbine\u2019s technology leverages artificial intelligence (AI) to build a constantly evolving, predictive simulation of cellular signaling. These virtual cells are used for in silico<\/i> experiments having never been run in lab, capturing patient biology better than available experimental models and testing more drug-like effects than current high throughput screening approaches. Validating the uncovered mechanisms and using the resulting data as feedback further improves the model\u2019s capabilities to reveal novel biological mechanisms.\n<\/p>\n

\nSimulations have already been validated from target discovery to patient stratification and life cycle management in collaborations with multiple big pharma companies. Turbine is now leveraging the Simulated Cell platform to develop its own stream of programs; expanding from an early focus on overcoming resistance to DNA Damage Response (DDR) inhibitors, the company is pursuing multiple high unmet oncology needs. Turbine is also working with partners to extend its pipeline to various modalities and cancer mechanisms. For more information, visit www.turbine.ai<\/a><\/b><\/span>.\n<\/p>\n

\nAbout Mercia<\/b>\n<\/p>\n

\nMercia is a proactive venture capital investor that aims to be the first-choice partner for growth. Mercia currently has c. \u00a3959million of assets under management and, since its IPO in December 2014, has a portfolio of over 400 start-ups from pre-seed to Series B and beyond. Mercia makes initial equity investments of between \u00a3250k and \u00a310million across all sectors, specialising in Software, Consumer and Life Science investments. Within the Life Sciences sector, Mercia supports innovations in biotechnology, digital healthcare and medical devices, which enable efficiencies and deliver material improvements in the standard of care. The firm has nine offices in the UK and over 60 in its investment team, all drawing on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help our partner companies successfully achieve their ambitions.\n<\/p>\n

\nMercia\u2019s venture funds sit alongside the Mercia Group\u2019s wider private equity, debt and proprietary balance sheet capital, in order to provide a \u2018Complete Connected Capital\u2019 solution for our portfolio. Mercia Asset Management PLC is quoted on AIM with the epic “MERC”. www.mercia.co.uk<\/a>\n<\/p>\n

Contacts<\/b> <\/p>\n

\nCorporate Inquiries:<\/b>
Tamas Torok
\n
Turbine
\n
tamas.torok@turbine.ai<\/a>
+36 30 633 7154\n<\/p>\n

\nMedia Inquiries:<\/b>
Hal Mackins
\n
Torch Communications
\n
hal@torchcomllc.com<\/a>
+1 415-994-0040\n<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

— Turbine\u2019s Simulated Cell\u2122 platform identifies novel cancer treatments and high unmet need patient groups to target where current experimental or computational approaches fail to succeed LONDON & BUDAPEST, Hungary–(BUSINESS WIRE)–Turbine, a company developing a cell behavior simulation platform, today announced the closing of a \u20ac20 million Series A financing round. Mercia and MSD Global … [Read more…]<\/a><\/span><\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"entry","1":"post","2":"publish","3":"author-business","4":"post-51115","6":"format-standard","7":"category-industry"},"yoast_head":"\nTurbine Raises \u20ac20 Million in Series A Financing to Advance Programs & Partnerships Towards the Clinic with World\u2019s First Cancer Cell Simulation Platform - Pharma Trend<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pharma-trend.com\/en\/turbine-raises-e20-million-in-series-a-financing-to-advance-programs-partnerships-towards-the-clinic-with-worlds-first-cancer-cell-simulation-platform\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Turbine Raises \u20ac20 Million in Series A Financing to Advance Programs & Partnerships Towards the Clinic with World\u2019s First Cancer Cell Simulation Platform - Pharma Trend\" \/>\n<meta property=\"og:description\" content=\"— Turbine\u2019s Simulated Cell\u2122 platform identifies novel cancer treatments and high unmet need patient groups to target where current experimental or computational approaches fail to succeed LONDON & BUDAPEST, Hungary–(BUSINESS WIRE)–Turbine, a company developing a cell behavior simulation platform, today announced the closing of a \u20ac20 million Series A financing round. 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