Converge Bio raises $5.5M Seed to speed up drug discovery and development with Generative AI [Yahoo! Finance]
BiomX Inc. COmmon Stock (PHGE)
Company Research
Source: Yahoo! Finance
it has raised $5.5 million in seed funding, led by TLV Partners. Converge Bio's platform uses large language models (LLMs) trained on biological and chemical data (DNA, RNA, protein sequences, and small molecules) to help biotech and pharmaceutical companies discover and develop better-performing drugs in less time. Developing new medications and biological products is a complex, lengthy, and costly endeavor. On average, bringing a new drug to market takes about 10 years and requires an investment of approximately $1 billion . The process is fraught with risk — of candidates fail during clinical trials after significant investments have been made. Generative AI has emerged as a powerful tool for drug discovery and development, with dozens of AI-discovered drugs currently in clinical trials. "Biological languages, like DNA and RNA, aren't just random sequences — they have intricate structures and rules, similar to the grammar and syntax of spoken languages," said Dov Gertz , co-fou
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News
- Microbiome Sequencing Services Business Report 2024-2030: Strong Investment in Genomics Research Crucial for Market Growth [Yahoo! Finance]Yahoo! Finance
- BiomX Inc (PHGE) Q3 2024 Earnings Call Highlights: Strong Net Income Amid Rising Expenses [Yahoo! Finance]Yahoo! Finance
- BiomX Announces Third Quarter 2024 Financial Results and Provides Business and Program Updates [Yahoo! Finance]Yahoo! Finance
- BiomX Announces Third Quarter 2024 Financial Results and Provides Business and Program UpdatesGlobeNewswire
- BiomX to Host Third Quarter 2024 Financial Results Conference Call and Webcast on November 14, 2024GlobeNewswire
PHGE
Earnings
- 11/14/24 - Beat
PHGE
Sec Filings
- 11/14/24 - Form 10-Q
- 11/14/24 - Form 8-K
- 11/13/24 - Form SCHEDULE
- PHGE's page on the SEC website