BenevolentAI

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BenevolentAI
Private
Traded asNYSE: FTCH
FoundedNovember 13, 2013
HeadquartersLondon, England

BenevolentAI is a UK-based advanced technology company that uses artificial intelligence to accelerate the development of new medicines for untreated diseases[1] . CEO of BenevolentAI is Joanna Shields, British-American technology executive. Shields took over from cofounder Ken Mulvaney who was appointed as chairman. [2]

The company's core product, which they refer to as their AI brain[3] , processes and contextualizes data to determine the causes of a disease, recommend a drug target, make a molecule to treat the specific disease, and define the right test audience.

BenevolentAI’s first clinical trial started in June 2018, in the USA and Europe[4].  The trial targets excessive daytime sleepiness in Parkinson’s patients.[5]

Funding[edit]

BenevolentAI is funded by five investors over two rounds of funding. Investors include Goldman Sachs[6], Woodford Investment Management, Lansdowne Partners Lundbeck, and Upsher Smith Laboratories[7] . The most recent round of funding raised $115 million[8]  and valued the company at $2 billion[9].

  1. ^ "Bloomberg - Are you a robot?". www.bloomberg.com. Retrieved 2018-10-24.
  2. ^ Shead, Sam. "BenevolentAI Makes Joanna Shields New CEO". Forbes. Retrieved 2018-10-24.
  3. ^ "BenevolentAI, which uses AI to develop drugs and energy solutions, nabs $115M at $2B valuation". TechCrunch. Retrieved 2018-10-24.
  4. ^ Medeiros, João. "This AI unicorn is disrupting the pharma industry in a big way". Retrieved 2018-10-24.
  5. ^ "BEN-2001 in Parkinson Disease Patients With Excessive Daytime Sleepiness - Full Text View - ClinicalTrials.gov". Retrieved 2018-10-24.
  6. ^ "Drug development start-up BenevolentAI made £35m loss last year". This is Money. Retrieved 2018-10-24.
  7. ^ "BenevolentAI Funding & Investors - CB Insights". Retrieved 2018-10-24.
  8. ^ Browne, Ryan (2018-04-19). "A start-up that aims to discover new drugs for incurable illnesses is now worth $2 billion after funding". CNBC. Retrieved 2018-10-24.
  9. ^ Editorial, Reuters. "AI pharma firm BenevolentAI raises $115 million in funding". U.S. Retrieved 2018-10-24.