Qubit Pharmaceuticals Raises €16 Million ($16.8M USD) in Seed Round Financing

Qubit Pharamaceuticals, a Paris, France based company specializing in finding efficient solutions for computational drug discovery, has raised €16 Million in financing from XAnge, Omnes, Quantonation and Mr. Octave Klaba, founder of OVH. This brings total funding the company has received so far to over €23 million ($24.2M USD). The funds will be used to further develop the company's Atlas software platform which leverages supercomputers and quantum computers to accelerate the development of more effective and safer drug candidates. The company has the aim of speeding drug candidate selection by a factor of 2X and reducing investment cost for drug discovery by a factor of 10X. They are a spin-off of research conducted at leading research institutions including CNAM, CNRS, University of Texas at Austin, Sorbonne University and Washington University. Qubit Pharmaceuticals has posted a news release with additional details that can be accessed on their website here.

June 10, 2022