MindRank AI Secures Over $20 Million in Series A+ Financing to Accelerate Innovative Drug Pipeline and Commercialization of AI Drug Discovery Platform

July 18, 2023MindRank Announces Over $20 Million in Series A+ Funding, Focusing on AI-Driven Drug DiscoveryLed by Xiehe Investment, the other investors include several well-known investment institutions from the life sciences and healthcare sectors. PW Capital served as the exclusive financial advisor. This round of financing will be used to accelerate the advancement of self-developed drugs, achieve the evolution and commercialization of the AI drug discovery platform.

With the help of its self-developed one-stop AI drug discovery platform Molecule Pro, MindRank's MDR-001 project took only 19 months from initiation to obtaining the IND approval. In June 2023, it commenced Phase I clinical trials and completed the first subject dosing. Additionally, the company has successfully delivered preclinical candidate compounds (PCC) to several publicly listed pharmaceutical enterprises.

MindRank's Molecule Pro platform has completed a major model upgrade iteration. The core machine learning module outperforms internationally leading software and current State-of-the-Art models in the field, and has been fully validated across dozens of new drug research and development projects. Dozens of related papers have been published in top international journals and conferences such as Nature, Cell series sub-journals, and ICML. The company has signed AI technology cooperation orders with multinational pharmaceutical enterprises and deepened AI technology collaboration with several leading biopharmaceutical companies to advance the commercial implementation of its AI + R&D service platform.

MindRank Founder & CEO Zhangming Niu stated:"We hope to push the boundaries of AI-assisted drug discovery capabilities through continuous technological innovation and algorithm iteration. With the assistance of the Molecule Pro platform, the company is committed to developing better drugs more quickly, providing superior therapies for patients worldwide."

Xeno Investment stated:"The AI technology platform of MindRank has a clear logic and rapid iteration, forming a good capability match in the fields of biology, pharmaceuticals, and algorithms. The team is highly motivated with significant room for growth. Although the self-developed pipeline and collaborative business are still in relatively early stages, they have already demonstrated obvious efficiency advantages. We look forward to the company maintaining its rapid growth momentum, continuously making progress in both its self-developed pipeline and collaborative business, while further enhancing its capabilities."

MindRank is an AI-driven innovative drug discovery company. The company's vision is to continuously deliver differentiated and high clinical value drug candidates by promoting the integration of various cutting-edge technologies in artificial intelligence and new drug research and development, thereby helping more lives regain health. MindRank’s AI pharmaceutical solutions were recognized as one of the "11 most important AI drug R&D breakthrough achievements globally from 2018-2020" by the authoritative European and American institution Deep Pharma Intelligence.

Guangzhou Xieno Investment Group Co., Ltd. was established on August 1, 2013, with its headquarters located in Guangzhou. Xieno ChenTu, the group's equity investment fund company, was registered by Xieno Investment Group on December 25, 2014. It is duly recorded with the Asset Management Association of China under certificate number P1014565 and operates as a private equity fund management company focused on primary market equity investments. Its key investment areas include new energy, semiconductors/new materials, healthcare, and artificial intelligence. Since its inception, the company has completed investments in over 50 enterprises, among which 14 companies, including CATL and Ronbay Technology, have successfully gone public.