South San Francisco–based biopharma Fountain Therapeutics has pulled in $15 million in Series A-2 financing, bringing its total Series A funding to $26 million. The company focuses on drug development for chronic degenerative diseases.
Eli Lilly and Company (NYSE:LLY), Alexandria Venture Investments and R42 Group joined as new investors in the funding round. Prior investors Khosla Ventures and Nan Fung Life Sciences also contributed to the Series A-2 financing.
Like many other biopharma startups, Fountain Therapeutics aims to use computer vision, artificial intelligence and machine learning to enhance its drug discovery efforts.
The company’s specific focus is on treating age-related diseases by reversing cellular age.
“We have already identified novel biology around known targets and potential new insights into chronic disease states that may lead to new therapies,” said Dr. William Greene, CEO of Fountain Therapeutics, in a press release. “We look forward to building on our positive momentum as we continue to build our insights, platform and pipeline.”
Fountain Therapeutics plans on investing the financing in its platform, pipeline and hiring new employees.
The company was founded in 2018.
Filed Under: Drug Discovery