Lux, Obvious Ventures lead €11.5m series-A for LabGenius

Mariia Bondarenko
24 October 2019

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Lux Capital and Obvious Ventures have led a тЌ11.5m series-A funding round for UK-based AI-driven drug discovery company LabGenius.

The round included participation from Felicis Ventures, Inovia Capital, Gigafund, Air Street Capital and other existing investors. Also investing is Recursion Pharmaceuticals' founder and CEO, Chris Gibson, as well as Inovia Capital general partner Patrick Pichette, who was formerly Google's CFO.

Lux partner Zavain Dar and Obvious Ventures managing director Nan Li will join the company's board of directors.

The fresh capital will be used to scale the company's team, expand the scope of its discovery platform, and initiate an internal asset development programme. LabGenius hopes to create antibody fragments capable of treating conditions that cannot be addressed using conventional antibody formats.

Previous funding
In November 2017, Kindred Capital and Acequia Capital led a £2.6m seed round for LabGenius. Backed VC, Beast Ventures, other corporate institutions and angel investors also joined the round.

Company
Founded in 2012 and headquartered in London, LabGenius is a drug discovery company specialising in protein therapeutics. The company's discovery platform, EVA, integrates artificial intelligence, robotic automation and synthetic biology. Following discovery and characterisation, LabGenius's proprietary molecules are taken to the clinic through pharma partnerships.

People
LabGenius – James Field (CEO, founder).
Lux Capital – Zavain Dar (partner).
Obvious Ventures – Nan Li (managing director).