Nvidia, Amgen back AI-driven drug firm Generate:Biomedicines' $273 million fundraise

STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Drug developer Generate:Biomedicines, which uses artificial intelligence to find new treatments, said on Thursday it has raised $273 million from investors including Nvidia's venture capital arm and Amgen.

Generate — founded by venture firm Flagship Pioneering, which has incubated biotech companies, most famously Moderna Inc — uses AI to replace trial-and-error drug discovery methods and create novel protein-based therapeutics. "The company has made significant advancements over the last five years, and I am confident this funding will enable us to realize a future where drug development is no longer a game of chance," Flagship's CEO Noubar Afeyan said in a statement.

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