Basecamp Research secures $60 million in Series B funding to advance AI in life sciences

Basecamp Research, an innovative company leveraging artificial intelligence to address significant challenges within the life sciences sector, has successfully concluded a $60 million Series B financing. The funding round, led by Singular, adds to the company’s total funding, bringing it to $85 million. This financial boost is set to accelerate the company’s mission of expanding its extensive dataset and advancing the capabilities of AI in biological design.

Basecamp Research is renowned for building foundational AI models that operate on what is reportedly the world’s most expansive and ethically sourced database of biological information. This unique approach allows the company to design complex biological systems, with performance that significantly improves as the diversity and contextual understanding of AI broaden. The organisation’s initiatives have already positioned it as a valuable partner in the life sciences arena, collaborating with biopharmaceutical companies and academic institutions to design novel protein sequences and biological systems. This work has the potential to revolutionise therapeutic research and development.

The company’s expansive network includes over 100 biodiversity partners globally. This network aids in delivering scientific breakthroughs that may fundamentally impact healthcare and patient lives. In a notable development, Basecamp Research has entered a multi-year collaboration with Dr David R Liu’s laboratory at the Broad Institute of MIT and Harvard. Dr Liu is recognised for his pioneering work in genome editing and serves as a Howard Hughes Medical Institute Investigator.

The collaboration between Basecamp Research and the Liu Lab aims to propel new methodologies in developing programmable genetic medicines. Such advancements could transform treatments across a diverse spectrum of diseases. The partnership is focused on pioneering the development of innovative fusion proteins and other large molecules, which are envisaged to facilitate the next generation of genetic medicines.

Dr Glen Gowers, co-founder and Chief Executive Officer of Basecamp Research, emphasised the significance of addressing the fundamental data gap prevalent in the biotech industry. According to him, Basecamp Research is committed to exceeding the limitations of AI in biological design. The company’s proprietary datasets and AI models are designed to extend beyond the conventional reach of human-based design.

In discussing the culmination of the Series B funding, General Partner at Singular, Raffi Kamber, articulated the transformative potential of Basecamp Research’s work. Kamber highlighted how the company’s AI models offer a substantial shift in the performance of AI-driven design, fundamentally altering innovation methods within the life sciences community.

Returning investors in this financing round include notable names such as True Ventures and Hummingbird Ventures, with new investments from S32, redalpine, and influential figures in the industry including André Hoffmann, Vice-Chairman of Roche, Feike Sijbesma, Chair of Royal Philips and former CEO of DSM, and Paul Polman, former CEO of Unilever.

The newly acquired funds will primarily be allocated towards accelerating the scale and pace of Basecamp Research’s data collection processes. The company aims to enhance its foundational dataset, which already surpasses the advanced biological systems contained in publicly available databases frequently utilised by pharmaceutical researchers. The funding round also follows the successful completion of 15 commercial bioscience partnerships across an array of industries.

Co-founder Dr Oliver Vince expressed his enthusiasm for the forward momentum, underlining the significant breakthroughs achieved through AI in addressing formidable bioscience challenges. Vince conveyed optimism about future collaborations and projects that promise to push beyond current boundaries in biological science.

Overall, Basecamp Research’s increasing financial backing and strategic partnerships indicate a promising trajectory in the AI-driven exploration of biological systems, potentially setting new benchmarks for innovation within the life sciences industry.

Source: Noah Wire Services