What is Deargen?
Established in December 2016, Deargen is at the forefront of AI-based drug discovery and development. The company possesses core AI technologies in areas such as biomarker prediction, disease target selection, and candidate compound extraction, utilizing meta-analysis of big genome data. Deargen gained recognition for its study results predicting COVID-19 treatments, including remdesivir, and has demonstrated its technological prowess by winning top awards at prestigious deep-learning and AI-based new drug development competitions. The company actively collaborates with pharmaceutical firms and research institutions to develop novel drugs, showcasing its robust capabilities in the competitive biotech landscape.
How much funding has Deargen raised?
Deargen has raised a total of $17M across 1 funding round:
Series B
$17M
Series B (2022): $17M with participation from Korea Development Bank and The Wells Investment
Key Investors in Deargen
Korea Development Bank
Korea Development Bank is a state-owned financial institution focused on financing and managing major industrial projects to foster economic development. It supports strategic industries and facilitates corporate restructuring.
The Wells Investment
The Wells Investment is a venture capital and private equity firm that invests in growth-stage businesses, particularly in bio-healthcare, deep tech, and IT services, aiming to drive industrial and societal change.
What's next for Deargen?
With the recent major enterprise-level funding, Deargen is poised to accelerate its research and development initiatives. The strategic investment is expected to bolster the company's efforts in expanding its drug discovery pipeline and forging new collaborations. Deargen's focus on proprietary AI technologies positions it for continued growth and impact in the pharmaceutical sector, aiming to bring innovative treatments to market more efficiently. The company's trajectory suggests a strong future in leveraging AI for addressing unmet medical needs.
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