Schrödinger Closes $85 Million Financing to Advance Computational Platform and Expand Drug Discovery Pipeline
January 04, 2019 at 03:08 pm
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Schrödinger announced the closing of an $85 million financing to support continued growth and innovation of its computational platform and expansion of its drug discovery pipeline. The Bill and Melinda Gates Foundation Trust and WuXi AppTec’s Corporate Venture Fund co-led the round, joined by leading life science and tech investors Deerfield Management, Baron, Qiming Venture Partners, and GV (formerly Google Ventures). The new investment will support Schrödinger’s ongoing research and development to extend the capabilities of its widely adopted computational platform for drug discovery and materials research. The company also plans to add scientists and developers and expand its drug discovery team to work on a growing pipeline of assets. Schrödinger’s pipeline spans both partnered and proprietary programs for a range of indications, including several compounds in clinical development.
Schrodinger, Inc. operates a physics-based computational platform that enables the discovery of molecules for drug development and materials applications. The software platform is used by biopharmaceutical and industrial companies, academic institutions, and government laboratories around the world. The Company operates through two segments: Software and Drug Discovery. The Software segment is focused on selling its software to transform drug discovery across the life sciences industry, as well as to customers in materials science industries. The Drug Discovery segment is focused on building a diverse portfolio of preclinical and clinical programs, internally and through collaborations, that have advanced to various stages of discovery and development. The Company's pipeline of drug discovery programs includes SGR-1505 (MALT1 Inhibitor), SGR-2921 (CDC7 Inhibitor), SGR-3515 (WEE1 Inhibitor). Its software was used by researchers around the world at more than 1,760 academic institutions.
SCHRÖDINGER, INC. 
