Recently, Precision Scientific (Beijing) Co., Ltd. (hereinafter referred to as “Precision Scientific”) has completed a 150 million yuan B round of financing. This round of financing was jointly led by Yipu Capital and Gaotejia Investment and followed by Qichen Capital and Huiyuan Capital with its old shareholder, Innovation Works and Maixing Investment's additional investments.
This round of financing will enable the company to have stronger capabilities to help pharmaceutical partners build innovative and differentiated pipelines, including systematically improving the company's capabilities in the translational medicine/medicine field, and accelerating the platform upgrade of the company's AIBERT® (multi-group oncology for new drug development). Also, through omics data mining, it supports the source innovation of pharmaceutical companies's R&D, and strengthen the company's position as a "new R&D partner for pharmaceutical companies".
Precision Scientific is a new platform company driven by "multi-omics + data mining", focusing on innovative drug differentiation research and development strategies. The company takes advanced multi-omics technology, bioinformatics and AI algorithms as the core, based on the independently developed AI-driven massive multi-omics data mining system AIBERT®, to provide pharmaceutical companies and biotech companies with world-leading drug mechanism research , Biomarker discovery, differentiated R&D strategies based on biomarkers, clinical statistics, central laboratory, companion diagnostic development and other innovative services. At present, it has formed in-depth cooperation with many leading domestic and foreign pharmaceutical companies and biotechnology companies to help the development and approval of multiple new drugs. At the same time, the company is also forming a cooperative ecosystem with pharmaceutical companies and doctors on the clinical side, so as to provide patients with advanced testing services and help the clinical practice of precise drug use.
Dr. Ji Xuwo, Founder and CEO of Precision Scientific, expressed: "Thank you new and old investors for the recognition and support of Precision Scientific. Innovation at the source of new drug R&D is not only a major challenge for Chinese pharmaceutical companies, but also for the global new drug R&D industry. New challenges in the field of new drug research and development require us to systematically improve our understanding of life's complex systems and better analyze the overall regulatory network of diseases (such as tumors), so as to improve the ability to evaluate and discover targets, indications, and biomarkers in the molecular mechanism level. With the rapid increase in the amount of data generated by multi-omics technologies (such as single-cell sequencing) and the progress of AI algorithms such as deep learning and causal inference, it is possible for the first time in history to find this "answer" (system capability) based on data. Furthermore, we have the opportunity to apply the "new knowledge" of the mechanism to the research and development of new drugs and promote innovative and differentiated drug development. " The company's co-founder Professor Liang Han also emphasized: "In the past ten years, clinical sample multi-omics represented by the Cancer Gene Atlas (TCGA), functional omics represented by DepMap, and Human Cell Atlas (HCA) as the representative of the single-cell omics have provided a rich data foundation, systematic thinking and increasingly mature analysis techniques for understanding the nature of diseases and developing effective treatment strategies, which makes the vision of Precision Scientific possible, that is, combining the most valuable omics data with the most advanced artificial intelligence algorithms to fully empower their partners, thereby providing a strong impetus for China's new drug research and development and precision medicine practice. "
Precision Scientific's financing will further strengthen the construction of the technology platform, promote the R&D cooperation between the company and pharmaceutical company partners, and provide comprehensive support based on multi-omics and data mining for the entire cycle of new drug development. It is expected that more outstanding talents will join such a dreamy, passionate, and actionable team, to devote themselves to the exciting business of using "Omics Data Mining to improve the New Drug Research and Development".
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