Biomedical AI research platform Causaly has announced the conclusion of a $60 million Series B fundraise.

Causaly's platform uses AI to read millions of published biomedical literature to support better decision-making and research outcomes at the pre-clinical trial stage of drug development.

The latest round for the London-based company, which serves 12 of the 20 biggest names in the pharmaceuticals sector, brings its total funding to $93 million.

Noting that developing new drugs is an “arduous process” which typically takes a decade of more and involves extensive research, development and clinical trials, the company said it would use the funding to expand its AI tool’s capabilities and further develop commercial relationships.

The latest funding round was led by companies including Pentech Ventures, Index Ventures, and individuals including former Johnson & Johnson chairman and chief executive Alex Gorsky.

Causaly chief executive and co-founder Yiannis Kiachopoulos said that recent advances in AI open completely new possibilities, and there is “a great need” for transparent AI systems that science leaders can trust.

“We are excited to accelerate our platform investments and partner with our customers in ingesting proprietary data to truly transform the way that research is done today,” added Causaly’s chief technology officer and co-founder Artur Saudabayev.

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