Ropes & Gray Represents Genesis Therapeutics in Oversubscribed $200 Million Series B Financing to Advance its AI-Enabled Drug Development Pipeline

In The News
August 23, 2023

Ropes & Gray represented Genesis Therapeutics in completing an oversubscribed $200 million Series B financing to advance the company’s physics-based artificial intelligence-enabled drug development pipeline. The financing was announced on August 21.

Genesis will use the funds to evolve into a clinical stage biotechnology company, further invest in its innovative AI platform and expand its drug discovery pipeline against previously undruggable targets.

The financing was co-led by a large public healthcare investment fund and returning investor Andreessen Horowitz (a16z). Genesis’ new lead investor was joined by other new investors Fidelity, NVentures (NVIDIA’s venture capital arm) and BlackRock. Several existing investors that participated include: T. Rowe Price, Rock Springs Capital, Radical Ventures and Menlo Ventures.

The internal pipeline programs have been enabled by the Genesis Exploration of Molecular Space (GEMS) AI platform, which leverages proprietary, field-leading, generative and predictive AI methods to produce novel molecules and make rapid, accurate predictions of properties such as potency and selectivity. GEMS is capable of identifying and enabling drug candidates for challenging, data-poor, and previously undruggable targets and underserved patient populations.

The Ropes & Gray team included venture capital & emerging companies partner Brad Flint and venture capital & emerging companies associates Jordan Kiellach, Spenser Easterbrook and Jenny Zhang.