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Glasgow University Spinout Raises $43 Million to 'Digitize Chemistry'

By Financial Times

August 10, 2023

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Chemify, which was spun out of the U.K.'s Glasgow University in 2022, has received $43 million in funding to further its efforts to "digitize chemistry."

The firm received $34 million from venture investors including Triatomic Capital, and $9 million from the U.K. government's Innovation Accelerators program.

The company uses artificial intelligence (AI) to design new molecules on-demand in an automated lab.

However, Chemify is unique in that its "chemputer" technology can manufacture the newly designed molecules.

Chemify CEO Lee Cronin said, "We only select the dream molecules that can be actually manufactured efficiently. We make the AI work."

Leveraging lab robotics, the chemputer can manufacture complex molecules requiring up to 15 steps to synthesize.

Cronin said there is "extremely high" interest from pharmaceutical companies, with partnerships to be announced in the near future.

From Financial Times
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