We advised Inventure, Tesi (i.e. Finnish Industry Investment) and Presidio Ventures on the EUR 13.7 million series A funding round of Algorithmiq, a Helsinki-based growth company developing quantum computing algorithms and solutions for drug development and discovery.
The round was led by Inventure, with participation from Tesi, Presidio Ventures, Thames Trust and existing investors.
This latest round of investment will enable Algorithmiq to pursue its proof-of-concept work with pharmaceutical companies globally, dramatically reducing the time and cost of drug discovery and development, a process that typically takes around a decade and a billion dollars for a new drug to reach the market.
We advised the investors alongside Wilson Sonsini Goodrich & Rosati.
