Qubit Pharmaceuticals, a Franco-American deeptech startup born in 2020which specializes in simulation and molecular modeling using quantum physics, announces the completion of a funding round for an amount of 16.1 million euros.
A total of 23 million euros raised since the launch
The investors are the funds XAnge, Omnes, Quantonation and Octave Klaba, famous founder of the hosting company OVH. This seed round brings together investors specializing in life sciences and Deep Tech. It brings to 23 million euros the total amount collected since the creation of the startup.
Qubit Pharmaceuticals wants to halve the time needed to select a drug candidate and halve the associated cost. The company is the result of Franco-American university research. It intends to build a portfolio of 10 drug candidates in the fields of cancer and inflammatory diseases.
The fundraising aims to strengthen its proprietary Atlas software platform, developed to take advantage of the computing power of supercomputers and quantum computers. This computing power should accelerate the development of more effective and safer drug candidates. Qubit Pharmaceuticals has long-term partnerships with key technology players.
Key technology partnerships with Nvidia, AWS, Genci and Pasqal
Qubit uses hybrid computing combining HPC (High Performance Computing) and quantum computing. This involves the development of high-performance computing infrastructures with Nvidia (use of GPU graphics processors), the GENCI (large national intensive computing equipment) and AWS (Amazon Web Service), and quantum computing, with the French Pasqal (who also works with Crédit Agricole) and the University of Sherbrooke (Canada). In this way, Qubit Pharmaceuticals wants to continuously improve the precision of its digital twins and extend the field of applications to increasingly complex targets.
” Qubit Pharmaceuticals is a bridge between the world of mathematicians and physicists and pharmaceutical and biotech players” describes Robert Marino, President of Qubit Pharmaceuticals. ” The former are developing hyper-fast computing tools based on quantum research, and the latter are looking for new drugs he continues. Qubit Pharmaceuticals works to model molecules and to simulate their interactions through ultra-fast computing. The Atlas platform creates digital twins of physical molecules. The startup models and simulates the interactions between molecules. It announces that it can perform calculations in a few hours that require several years by conventional means, i.e. an acceleration of a factor of 100,000.
As a result, Qubits declares that it is no longer necessary to synthesize the drug candidates developed in chemistry or using artificial intelligence algorithms to validate their effectiveness. Atlas allows the modeling of molecules, their description and the prediction of their action. Qubit boasts a breakthrough technology that solves 3 key problems in drug development: the quality of predictions, the interpretability of results and the speed of simulations, which generates an improvement and acceleration of therapeutic product portfolios.
Objective to quickly grow the company to 60 people
The company employs 20 people specializing in quantum chemistry, computational chemistry, machine learning and medicinal chemistry, and through the use of supercomputers and quantum computers. Qubit Pharmaceuticals will strengthen its teams, which should quickly reach 60 people spread between Paris and Boston. Qubit Pharmaceuticals wants to become a world leader in ultra-rapid drug design.
With the Atlas platform, the Qubit Pharmaceuticals teams declare that they have discovered new drug candidates against Covid in less than 6 months and have initiated research programs in the field of cancer and inflammation. ” We bring to the industry a new generation of tools for rapid and predictive molecular modeling, coupled with acceleration and visualization strategies based on high performance computing, quantum computing and artificial intelligence to carry out very high precision molecular simulations concludes Jean Philip Piquemal, Scientific Director and co-founder of Qubit Pharmaceuticals.
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