SoftBank Invests in Quris, Which Developed An Alternative to Animal Testing
December 20, 2022 07:00 ET
BOSTON and TEL-AVIV, Israel, Dec. 20, 2022 -- Quris, an artificial intelligence (AI) innovator disrupting the pharmaceutical arena, today announced it has secured an additional $9 million in seed funding – bringing its total seed round funding to $37 million. Led by SoftBank Vision Fund 2, alongside existing private and institutional investors such as GlenRock Capital, iAngels, Welltech Ventures and Richter Group, the additional capital will help Quris advance its Bio-AI platform, grow its team, strengthen industry collaborations and speed its novel drug research.
“We believe the early forecasting capability that Quris is developing brings real potential impact to the global pharmaceutical industry,” said Yossi Cohen, Director of Israel Operations for SoftBank Investment Advisers. ”Harnessing the novel application of AI, Dr. Bentwich and his team could save the enourmous costs of drugs failing in clinical trials, and in doing so create a business in Israel of significant economic value.”
Quris is the first Bio-AI clinical-prediction platform that simulates clinical trials by leveraging a patented patient-on-chip system through the use of stem-cell derived tissue and AI to simulate a real human body’s reaction to drugs without relying on time-intense, inaccurate animal testing. Better predicting which drug candidates will safely work in humans, Quris reduces drug development cost and duration.
“SoftBank’s ecosystem comprises an impressive cluster of companies leading the field of artificial intelligence for pharma. As an investment partner, it gives them a unique perspective on this young and promising field that has already begun to produce significant unicorns,” added Dr. Isaac Bentwich, founder and CEO of Quris.