Ropes & Gray Represents Genesis Therapeutics in $52 Million Financing to Accelerate AI Innovation and Drug Discovery Pipeline
Ropes & Gray represented Genesis Therapeutics in completing a $52 million Series A financing to accelerate artificial intelligence innovation and to launch a drug discovery & development pipeline. The financing was announced on December 2.
Rock Springs Capital led the financing round. Several other investors participated, including funds and accounts advised by T. Rowe Price Associates, Inc., Seed-round lead investor Andreessen Horowitz, Menlo Ventures, and Radical Ventures. Dr. Kris Jenner, co-founder and managing partner of Rock Springs, has joined Genesis’ Board of Directors; Dr. Vijay Pande, who led Genesis’ seed round at Andreessen Horowitz, and Greg Yap of Menlo Ventures have joined as Board observers.
Genesis will use the funds to drive its drug discovery and development programs by hiring more AI researchers, software engineers, medicinal chemists and biotechnology talent; accelerate innovation in AI technologies and advance its therapeutics pipeline.
The Ropes & Gray team included life sciences venture capital & emerging companies partner Bradford Flint (Boston) and litigation & enforcement counsel Brendan Hanifin (Chicago).