- The funds will be used to tackle undruggable targets 

neoX Biotech, a next-generation biotech company specializing in computational 
design for novel drug research and development, recently announced that it had 
raised US$30 million in Series A funding. The financing was co-led by Sky9 
Capital and 5Y Capital (formerly known as Morningside Venture Capital), with 
participation from BAI Capital and Vertex Ventures alongside existing investors 
Vision Plus Capital and Sequoia Capital China.

The funds will be mainly used to enhance its artificial intelligence 
(AI)-driven novel drug R&D platform, accelerate the preclinical development of 
several new medicine pipelines and expand international business cooperation. 

neoX's value creation in AI-enabled new drug R&D is based on the underlying 
computable logic of biological systems and drug action. With this guiding 
principle in mind in tandem with the goal of studying and characterizing 
protein-protein interactions (PPI), the company has developed a sophisticated 
innovative drug R&D platform that integrates AI, biophysics and high-throughput 
experiments. neoX has achieved demonstrable preclinical progress in several 
innovative drug pipelines derived from this platform, with the expectation of 
soon producing some first-in-class and best-in-class drugs. In 2020, neoX 
garnered the Best Innovation award from MIT Technology Review China for major 
technological breakthroughs in new drug research and development. 

"We are focusing on cutting-edge drug modalities, such as multispecific 
molecules and biologics," said Dr. Michael Chen, co-founder and CEO of neoX, 
"We use our next-generation neoPlatform to design new drug modalities and to 
truly 'think out of the box', in an effort to address undruggable targets." 

In terms of bispecific molecules commonly used for protein degradation 
technology, through an in-depth study of PPI, neoX can accurately predict the 
ternary complex of target protein, bispecific molecule and ubiquitin ligase, 
gain a deeper and more comprehensive understanding of the biophysical 
principles of protein action and degradation, and enable efficient design, 
screening and iterative optimization of protein degradation drugs. In the field 
of macromolecular drugs, Dr. Chen said that neoX designs and develops 
nanobodies, multispecific antibodies and neoantigen-T cell receptors.

With its leading interdisciplinary novel drug R&D platform, neoX is expected to 
conquer the pain point of undruggable targets while accelerating the research 
and development of innovative drugs, in a move to meet unmet clinical needs and 
eventually bring innovative therapeutics to patients.

Contact: info@neoxbiotech.com

SOURCE  neoX Biotech