Monday, 26 February 2024

Singapore-based startup Engine Biosciences raises $27 M for precision oncology medicine development

Extension brings Series A total to $70 million, and total funds raised to date to $86 million

Engine Biosciences, a venture-backed Singapore and Silicon Valley based startup leveraging machine learning and high-throughput biology to discover and develop precision oncology medicines, has announced the completion of a $27 million Series A extension.

The financing was led by Polaris Partners, with participation from both new and existing investors, bringing the total funds raised since inception to $86 million. Additional participating investors include existing investors ClavystBio (a life sciences venture investor set up by Temasek), Invus, and Singapore-based global investor EDBI, as well as new investors Coronet Ventures (a Singapore-based investment entity of Cedars Sinai Intellectual Property Company) and SEEDS Capital (investment arm of Enterprise Singapore). In conjunction with the financing, Wen Qi Ho Ph.D., Therapeutics Lead at ClavystBio, has joined Engine’s Board of Directors.

Engine’s proprietary platforms, NetMAPPR (machine learning-enabled network biology) and CombiGEM (combinatorial genetics experimentation), are engineered for drug hunters and clinical developers to discover and optimise precision medicines. 

With the additional funds secured, Engine will further advance its biomarker and target discoveries toward the clinic through internal development, collaborations, and partnerships.

 

Published on : 01st November, 2023