Biotech startup Zephyr AI has successfully closed a $111 million series A funding round.
Revolution Growth, Eli Lilly & Company, Jeff Skoll, and EPIQ Capital Group were among the participants in the round. Cooley served as legal counsel for Zephyr AI.
The firm is developing improved data federation tools along with various machine learning algorithms in the areas of oncology and cardiometabolic disease.
In a statement, Zephyr AI said that the funds would be used to further enhance its analytical speed and fortify its extensive collection of training and validation datasets, as well as expand the firm's scientific and commercial teams, supporting "the democratization of precision medicine through the advancement of novel explainable [artificial intelligence] AI algorithms."
"The expansion of our diverse multimodal data resources will accelerate the advancement of Zephyr AI's algorithms, paving the way for us to transform the landscape of precision medicine and improve outcomes for our partners and patients," said Jeff Sherman, Zephyr AI's co-founder, interim CEO, and chief technology officer.
The company also noted that it has two abstracts accepted for publication that will be presented at the American Association for Cancer Research annual meeting that is being held in San Diego from April 5 to April 10, 2024. The two abstracts are "Reconstructing a latent representation of gene expression from genomic alterations to improve clinical utility of real-world clinicogenomics data," and "Generative Bayesian networks for augmentation of molecular data from commercial genetic panels."
