Former Google AI Expert's Biotech Start-Up Raises $100 Million for AI-Driven Drug Innovation

Palo Alto, 13th September 2023 - Inceptive, a biotech start-up founded by former Google AI expert Jakob Uszkoreit, has successfully secured $100 million in funding, with significant contributions from Nvidia and Andreessen Horowitz. The funds will be used to drive advancements in AI-driven drug developments, particularly in the field of generative AI applications for pharmaceuticals.

Inceptive, based in Palo Alto, aims to develop innovative vaccines and drugs using cutting-edge AI technology. Jakob Uszkoreit, known for co-authoring a pivotal paper in generative AI that contributed to models like ChatGPT, envisions a novel approach – "biological software" – where AI principles are applied to manipulate cells within the human body.

This investment places Inceptive at the forefront of a new generation of start-ups focusing on AI-powered drug development. The pharmaceutical industry, in collaboration with investors, is actively pursuing the potential of a $50 billion AI market in this sector, according to a recent Morgan Stanley report.

Founded just two years ago, Inceptive's valuation soared from $100 million in 2021, following a $20 million seed funding round, to over $300 million with this latest funding round, including participation from Obvious Ventures.

Inceptive's AI software platform creates unique molecules using mRNA, similar to the technology underpinning successful Covid-19 vaccines from Pfizer and BioNTech. These molecules, tested in-house, are licensed to pharmaceutical companies for further development and clinical trials.

Collaborating with a major European pharmaceutical company, Inceptive is exploring the potential of its molecules in crafting a new infectious disease vaccine, building on the success of mRNA-based Covid-19 vaccines.

The future holds substantial promise for AI-driven drug development, with estimates suggesting over 700 mRNA drugs could be in development by the end of the decade. Jakob Uszkoreit's pioneering work in AI, alongside strategic investments from Nvidia and Andreessen Horowitz, underscores the industry's growing convergence with AI technology in the pursuit of innovative healthcare solutions.