Protai, an AI-powered drug discovery startup, announced on Wednesday its emergence from stealth, along with an $8 million seed financing round co-led by Grove Ventures and Pitango HealthTech.
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Protai has built an AI-based platform that maps the course of a disease on the protein level, enhancing the ability to observe cellular function and thereby improving the way in which new drugs are discovered. This technology allows Protai to increase accuracy in drug discovery and improve the development process, saving time and lowering research and development costs.
The funding will be used to further develop Protai's platform, accelerate its discovery programs and enhance its partnerships with pharmaceutical companies.
"Protai's platform is like a unique compass for directing drug discovery," said Eran Seger, CEO and co-founder of Protai. "We are systematically mapping diseases on the protein level to create an entirely new layer of functional information which enables us to identify therapeutic and diagnostic targets to better combat a wide range of complex diseases."
