Engine Biosciences, a startup using machine learning and high-throughput biology to advance precision cancer medicine, announced the completion of a $2700 million Series A funding round, bringing its total funding to $8600 million.
Investors participating in the Series A round include ClavystBio, a life sciences venture capital firm founded by Temasek Holdings, Invus, and EDBI, a Singapore-based international investment company. New investors include Coronet Ventures, a Singapore investment institution established by Cedars Sinai Intellectual Property, and SEEDS Capital, an investment company under the Singapore Economic Development Board.
Concurrently, Dr. Wen Qi Ho, Head of ClavystBio's Therapeutics Business, will join the Engine Biosciences Board of Directors.
Engine Biosciences' precision medicine R&D platform is capable of deciphering biological networks and overcoming the challenges posed by complex biology. It boasts the ability to accurately identify key genetic interactions that cause disease, assist in identifying targets and treatments for biomarked patient groups, and thereby more quickly find effective precision medicine.
For tumor-related diseases, Engine Biosciences applies its proven synthetic lethality principles to invest in clinical translational research on treatments and biomarkers for diseases such as ovarian cancer, colorectal cancer, liver cancer, lung cancer, and prostate cancer.
Jeffrey Lu, Co-Founder and CEO of Engine Biosciences, said, "Our research findings support Engine Biosciences' mission to achieve clinical impact by delivering targeted therapies that are best suited for patients. We are grateful to our existing and new investors for their confidence in Engine Biosciences during this round of funding. We will continue to work with our partners to advance our research findings into the clinic."
Engine Biosciences has identified over 30 previously undiscovered precision medicine opportunities through data validation, laying a solid foundation for its product pipeline and partnerships. Its internal drug development biology and chemistry research teams are continuing to advance multiple research programs based on these initial identifications.
In oncology research, Engine Biosciences' ENB-812 research program independently discovered the novel synthetic lethal target PKMYT2019 in 1. It has now achieved preclinical proof-of-concept in multiple tumor types and animal models. This not only has clinical data support, but has also made significant progress in the discovery and optimization of lead compounds.
In addition to identifying high-value targets and drug candidates, Engine Biosciences has also established new patient screening biomarkers for a variety of targeted therapies.
For example, Engine Biosciences' biomarkers have been shown to increase tumor sensitivity to specific clinical-stage investigational drugs by 100-fold. These biomarkers have the potential to improve clinical trial outcomes in the short term, while also increasing medical commercial potential and the economic benefits of drug development.
Amy Schulman, Managing Partner of Polaris Partners, said: "Since investing in Engine Biosciences, we have witnessed its significant growth and how it continues to leverage technology to develop precision medicines that can achieve clinical translation. I am pleased to lead this strong group of investors in supporting Engine Biosciences in creating clinical value through the development of therapeutics, biomarkers, and partnerships."
Engine Biosciences' two patented platforms, NetMAPPR (Network Biology Powered by Machine Learning) and CombiGEM (Combinatorial Genetic Experiments), empower drug developers and clinical trial practitioners to discover and optimize precision medicine through sophisticated research and design. These platforms benefit from years of R&D efforts by teams in Singapore and Silicon Valley, as well as fundamental science from MIT, UCSF, UCSD, and the Mayo Clinic.
In addition to high-value targets and relevant biomarker patient groups, Engine Biosciences' rich biological knowledge and data can provide insights into the characteristics of ideal target products, assisting in the design and optimization of optimal therapies and drugs.
Dr. Wen Qi Ho, Head of Therapeutics at ClavystBio, said, "We are delighted to join a diverse group of life science investors in supporting Engine Biosciences' growth into a global biotech company. This investment aligns with our mission to translate breakthrough research into clinical impact and to establish an enterprise in Singapore that attracts international talent, data, and clinical opportunities."
Engine Biosciences' programs and platforms are built on an extensive patent portfolio. With this round of funding, Engine Biosciences will further advance the clinical application of biomarker and target discovery through internal R&D, collaborations, and partnerships.
"Coronet Ventures and Engine Biosciences believe that precision medicine is key to creating the next wave of breakthrough medicines. Our investment in Engine Biosciences reflects our commitment to translating groundbreaking research into clinical outcomes and supporting Singaporean companies with global potential," said Dr. Nirdesh Gupta, CEO of Coronet Ventures.
