How open banking is driving huge innovation
, a startup using to develop new medicines, today announced the closure of its $25 million series A round. The company says the capital will be used to advance its internal and partnered drug discovery program, further develop its platform, and grow its team of scientists and engineers.
Fewer than 12% of all drugs entering clinical trials end up in pharmacies, and it takes at least 10 years for medicines to complete the journey from discovery to the marketplace. Clinical trials alone take six to seven years, on average, putting the cost of R&D at roughly $2.6 billion, to the