Funding to advance the company’s proprietary, industry-leading, computational platform and support expansion of wet lab capacity
SUZHOU, China & SHANGHAI–(BUSINESS WIRE)–TandemAI today announced it has raised $25 million in Seed and pre-Series A financing to advance its proprietary computational platform and expansion of its wet lab operations. The company will tightly integrate the computational platform with wet labs for biophysics, medicinal chemistry, and biology in order to accelerate the design and optimization of drug candidates for partners. The round was led by OrbiMed and Chengwei Capital.
“Advances in artificial intelligence tools rooted in rigorous biophysics represent a new frontier in drug discovery,” said David Wang, M.D., Ph.D., Senior Managing Director and Partner at OrbiMed, who will also join the company’s Board of Directors. “TandemAI has assembled an outstanding core team to leverage this opportunity with a vision for creating a new drug discovery engine that is based on accurate quantum mechanics, large scale experimental data, and artificial intelligence.”
“The investments by OrbiMed and Chengwei Capital, both leading venture firms, are strong votes of confidence in our strategy, business model, and team,” said Jeff He, MBA, co-founder, and CEO of TandemAI. “The funds will accelerate our expansion and enable us to attract the best talent for our platform and discovery operations.”
TandemAI’s co-founders bring deep experience and exceptional track records in building, leading, and financing innovative drug discovery and development organizations. Mr. He has more than 20 years of experience in senior business leadership roles at companies, including most recently at HiFiBiO, where he served as co-founder and COO, and Harbour BioMed, where he was a co-founder and CFO. Wei Tang, Ph.D., TandemAI’s COO, was previously the CEO of Shanghai ChemPartner and a member of its board of directors. Before joining ChemPartner, he served at Merck in several senior research roles, with his latest position as a Distinguished Senior Investigator.
TandemAI is rapidly setting up state-of-the-art wet labs and high-performance computing clusters in China.
About OrbiMed
OrbiMed is a leading healthcare investment firm, with over $17 billion in assets under management. OrbiMed invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed’s team of over 100 professionals is based in New York City, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets. www.orbimed.com
About Chengwei Capital
Founded in 1999, Chengwei Capital is one of the world’s leading evergreen funds. Over the past 20 years, Chengwei has been involved in high-end manufacturing, Internet, semiconductor, corporate services, biotechnology, and other areas. Its cumulative total investment exceeds $2 billion U.S. dollars with more than 100 invested companies. Chengwei is based in Shanghai with offices globally. www.chengwei.com
About TandemAI
TandemAI is an advanced technology company dedicated to reinventing drug discovery infrastructure. The company integrates proprietary AI-driven, high-performance computation with its efficient, large-scale in-house wet lab operations to deliver a turnkey drug discovery solution. TandemAI has built its networked platform from the ground up in China to increase the speed of drug discovery and deliver cost-effective opportunities to its partners and to the global scientific community. Learn more at www.tandemai.com
Contacts
Jeff He
CEO
j.he@tandemai.com
Robert Gottlieb
RMG Associates, LLC
Robertmg52@gmail.com