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Nvidia, Pfizer lead $80 mln funding for Israeli medical AI tech firm CytoReason
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Nvidia, Pfizer lead $80 mln funding for Israeli medical AI tech firm CytoReason
Jul 17, 2024 5:21 AM

JERUSALEM, July 17 (Reuters) - Israel's CytoReason,

which uses AI to develop disease models, said on Wednesday it

had raised $80 million in a private funding round.

Nvidia ( NVDA ), Pfizer ( PFE ), Thermo Fisher and

venture capital investor OurCrowd participated in the round,

CytoReason said.

The company said it aims to expand the application of its

models into additional indications and grow its proprietary

molecular and clinical data.

It also plans to establish an office in Cambridge,

Massachusetts, later this year.

In 2022, Pfizer ( PFE ) expanded its partnership with CytoReason

with a $20 million investment that could reach $110 million by

2027.

"The rapid expansion of new technologies, like artificial

intelligence, holds tremendous potential to help transform what

is possible in human health," said Mikael Dolsten, Pfizer's ( PFE )

chief scientific officer.

"Our collaboration with CytoReason leverages its

cutting-edge immunology multiomics platform to augment Pfizer's ( PFE )

own R&D capabilities and generate invaluable insights into new

drug development pathways for patients."

CytoReason said six of the world's top 10 pharma companies

use its technology to make data-driven decisions in immunology,

inflammation, immuno-oncology, metabolism, and other therapeutic

areas using an AI platform of computational disease models.

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