Primavera Venture Partners Co-Leads Investment in AI Pharma Company Accutar Biotechnology, Ramping Up Investment in AI Healthcare
Accutar Biotechnology (Accutar), a leading global AI pharmaceutical company, today announced the completion of a new round of financing of tens of millions of dollars with Primavera Venture Partners as the co-lead investor. Accutar will use the funds to increase technological investment in end-to-end drug discovery and development, and to foster development in drug candidate identification from IND filing to clinical trial advancement.
Founded in 2015, Accutar is a global leader in AI-enabled pharmaceuticals, dedicated to using AI technology to improve drug screening accuracy and efficiency, as well as building an algorithmic platform to accelerate next-generation drug development. Accutar’s CEO, Dr. Jie Fan studied under Professor Nikola Pavletich, a member of the National Academy of Sciences, and was honored to have Nobel Prize winner Dr. Gunter Blobel as his postdoctoral supervisor.
As a leading company in the field of AI pharmaceuticals, Accutar has established partnerships with many of the world’s preeminent pharmaceutical companies. Accutar has a proven ability to provide optimal solutions in all the core steps of the preclinical research stage of new drugs and helps multiple target drugs to achieve end-to-end output.
Accutar uses AI technology to improve the accuracy and efficiency of drug screening. Its independently built cloud computing platform, Orbital Drug Design, is the industry’s most advanced drug development tool in the current molecular docking-based compound virtual screening program, which can further accelerate the calculation and shorten the validation cycle.
Johnny Zou, co-head of Primavera Venture Partners, said, “Together with Accutar’s professional team and other shareholders, Primavera will strive to create value for Accutar and help the company in various areas, such as drug expert introduction, AI talent recruitment, and drug commercialization. We will help lay a solid foundation for Accutar’s long-term sustainable development.”
Since its inception, Primavera Venture Partners has sought to identify investments which represent the intersection of AI and healthcare. Looking forward, Primavera Venture Partners will continue to identify outstanding companies and encourage independent innovation in line with national policies. It seeks to achieve the objectives of reducing the cost of drugs and medical treatment for patients, improving the operational efficiency of medical institutions, and accelerating industrial transformation.