Quantum maps quicker path to anti-cancer treatment
Polarisqb collaboration with Auransa yields results + New strategic partner
- Polarisqb's Tachyon drug-discovery platform yields promising candidates against triple-negative breast cancer in major collaboration with Auransa
- Polarisqb signs agreement with additional strategic partner
- Bill Shipman, CTO and Co-founder, named among Quantum Insider's 51 CTOs Transforming the World of Quantum Tech
- On track for first revenue of $1M in 2022, projecting $5.6M in 2023
- CLA with $40M cap at 20% discount led by OurCrowd
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Dear Josb,
Only 12% of new drugs that enter clinical trials earn FDA approval. Including the money wasted on drugs that fail, the average cost of bringing a new drug to market is $2.6B. The crucial first step, drug discovery, takes years and costs millions of dollars.
OurCrowd is reinvesting in Polaris Quantum Biotech (Polarisqb), the first company to successfully deploy quantum computing in the search for new drugs, allowing it to scan billions of molecules in one minute. The details in this email are based on information received from, and verified solely by, the company.
The company is on track for its first year of revenue in 2022, and projecting more than 400% YOY revenue growth in 2023.
Since OurCrowd first launched this opportunity in June, the company reports the following significant developments:
Promising results for triple-negative breast cancer with Auransa: On Aug. 9, Polarisqb and Auransa Inc. announced encouraging progress in a joint project to identify a new molecule that could help tackle triple-negative breast cancer, an aggressive condition accounting for about 15% of breast cancers. The companies identified a biological pathway that is predicted to be relevant and hence likely to be important for patient outcomes. The outcome is potentially a drug that will assist treatment.
New strategic client: In Q2 2022, Polarisqb signed an agreement with another major strategic client for which the company has started to work on a challenging target transmembrane protein. Progress is good, and success will significantly improve Polarisqb's abilities.
CTO transforming the quantum world: Bill Shipman, Polarisqb CTO and Co-founder, was named among 51 CTOs Transforming the World of Quantum Tech by Quantum Insider. The company was named among the 10 Hottest Quantum Computing Startups of 2022 by Startup Savant.
The Team
Polarisqb has an experienced computational chemistry team headed by CEO Dr. Shahar Keinan who holds three patents, has over 50 publications, and previously served as CSO for Cloud Pharmaceuticals.
The Round
OurCrowd is leading this CLA with a $40M cap at a 20% discount. Funds will be used to support development of new molecular assets and to scale up the platform.
Meet the CEO
Watch an investor briefing with CEO Shahar Keinan and learn more about Polarisqb.
The Polarisqb Solution
Polarisqb's Tachyon platform uses D-Wave's quantum annealer to achieve unparalleled performance, scanning billions of molecules in one minute. The process starts with bioinformatics, selecting a biological target leveraging artificial intelligence and machine learning. A molecular library is used to build a solution space of billions of molecules. Quantum computing is used to find the right molecules. After the right molecules are found, they are synthesized and measured, and the company files for IP protection to support a sale/licensing of the asset.
Next steps:
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