PRESS RELEASE: POLARISqb, the Durham based developer of the world’s first drug discovery software built for quantum computers, announces that it has received the first round of their seed raise, totaling over $2 million dollars. This funding will allow Polaris to grow their team, scale the platform and develop assets faster.
POLARISqb’ seed round is led by OurCrowd, and joined by Infinity Medical. OurCrowd is a global venture investing platform empowering institutions and individuals to invest and engage in emerging companies. With $1.8 billion of committed funding, and investments in more than 280 portfolio companies and 28 venture funds. Infinity Medical focused on advanced digital health technologies, with portfolio companies on the cutting edge of health innovation, in transition from development to global sales.
“OurCrowd has allowed us to reach investors in a modern and engaging manner, building relationships that will provide opportunities for continued growth and connection with stakeholders from around the globe,” said POLARISqb CEO Shahar Keinan.
David Sokolic, Investment Partner at OurCrowd, explains “OurCrowd has developed a cogent investment thesis around quantum computing and has made several previous related investments in enabling hardware and software development tools. We are pleased to now add POLARISqb to our growing portfolio in this rapidly emerging field. POLARISqb’s unique approach of applying the power of quantum computing to the discovery of novel drug candidates at a fraction of the time and cost of conventional methods represents one of the first commercial examples of quantum-powered application software delivering tangible benefits surpassing what was previously achievable.”
Source: Polaris
POLARISqb is the first drug discovery platform built on a quantum computer. The company is transforming health for people everywhere by revolutionizing drug design with the acceleration of lead time for preclinical drug candidates. Founded in 2020 by Shahar Keinan, CEO, and Bill Shipman, CTO, POLARISqb uses the latest innovations in cloud, quantum computing, artificial intelligence, and machine learning to operate 10,000 times faster than any alternative solutions in the market. With real-time adaptability, POLARISqb can produce up to 100 assets each year. The resulting high-quality leads are synthesized, tested, and licensed to pharmaceutical partners for development within months, rather than years. Learn more today at www.polarisqb.com.
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