Colorcon Ventures, the corporate venture fund of Colorcon Inc., has invested in VeriSIM Life, a San Francisco-based startup with a digital bio-simulation platform that accelerates drug development and reduces animal testing.
A vast majority of drugs that are tested in animals fail to pass human clinical trials, resulting in delayed development and high costs. VeriSIM’s BIOiSIM platform, driven by artificial intelligence (AI) and machine learning (ML), de-risks R&D decisions by providing meaningful insights much earlier in the drug development process with unprecedented accuracy and scalability. This first-in-class solution significantly improves R&D productivity, one of the biggest pain points for pharmaceutical and biotech companies.
Ali Rajabi-Siahboomi, Vice President and Chief Innovation Officer at Colorcon, said, “VeriSIM aligns with Colorcon Ventures’ strategic focus on improving efficiencies in the drug development process. We believe VeriSIM can lower overall pharmaceutical development cost and accelerate time to market.”
Jo Varshney, VeriSIM’s Founder and CEO, said, “We are pleased to have Colorcon join us as a strategic investor. Access to Colorcon’s global R&D relationships and expertise should prove helpful as we scale VeriSIM in the years ahead.”
Colorcon Ventures joins a prominent list of investors who also participated in VeriSIM’s recently announced Series A, including Morpheus Ventures, Debiopharm Innovation Fund, OCA Ventures, Intel Capital, Serra Ventures and Susa Ventures.
by Colorcon, Press Release
Source: colorcon.com
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