Evozyne wants to fundamentally change the drug discovery process using generative artificial intelligence, and has raised $81 million to put toward that goal.
Founded in 2020 by Paragon Biosciences, a Chicago-based incubator and fund that invests in and builds life-science companies, the local biotech startup, which combines engineering and AI to develop medical solutions, announced a Series B investment round this week.
The funding was led by Fidelity Management & Research Co. and OrbiMed with participation from NVentures, NVIDIA's venture capital arm. Previous investors Paragon Biosciences and Valor Equity Partners also expanded their support in the round.
Named to this year's Chicago Inno Fire Awards list, Evozyne expects to focus on maximizing its generative AI platform for drug development and carbon capture over the next three years.
The company named Chicago tech industry vet Mike Gamson as its CEO in January.
