Colorcon Ventures Invests in AI Solutions Provider

Colorcon Ventures, a corporate venture fund of Colorcon Inc., announced on August 12, 2020 that it has invested in Atomwise, a provider of artificial intelligence (AI) solutions for drug discovery.

According to a Colorcon press release, Atomwise’s technology, AtomNet, works to eliminate the barriers of physical screening for small molecule drug discovery. The technology currently screens libraries of more than 16 billion molecules against novel biological targets in less than two days.

“Atomwise aligns with the Colorcon Venture fund’s strategic focus on developing transformational technology solutions for the pharmaceutical industry, and Colorcon will be a strong partner for the company,” said Martti Hedman, CEO at Colorcon, in the press release. “R&D productivity is a major pain point for the pharmaceutical industry. Atomwise is the leading company using AI for small molecule drug discovery, enabling significant time and cost savings for our global customer base. We embrace Atomwise’s approach to partnering with leading pharmaceutical companies in their research and development efforts and are open to strategic alignment with our customers where appropriate.”

“We are pleased to have Colorcon Venture's support as we scale Atomwise,” added Abraham Heifets, Atomwise’s co-founder and CEO, in the press release. “With their support, we will be able to further our mission to make better medicines faster and improve the lives of billions of people.”

Source: Colorcon