50 of the best-funded biotechs of 2023

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As the year draws to a close, it is clear that molecular science and diagnostics is the hottest funding area in the biotech industry. In an analysis of 50 of the best-funded biotechs of 2023 focused on human health, molecular and science and diagnostics startups collectively attracting roughly $945 million, dwarfing the figures in other segments. The next popular two niches, gene therapies and oncology, had average funding levels of approximately $245 million and $170 million, respectively. While AI has received a significant amount of attention this year, biotechs specializing in that field garnered an average funding of only about $66 million. Outside of the life sciences, startups with a broader focus on AI raised a cumulative average of $202.47 million, based on an analysis of close to 1000 companies.

Caris Life Sciences has raised nearly $1.7B to date

In terms of best-funded companies overall,…

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Amgen exec describes generative biology’s promise to unveil sequence, structure and function

Amgen (Nasdaq:AMGN) is sharpening its focus on generative biology, an emerging discipline that can accelerate protein drug discovery.

The company describes generative biology as “a revolutionary approach to drug discovery and development” that enlists the help of AI and machine learning to design novel protein therapeutics.

Although the term generative biology may be new, Amgen has invested in the marriage of wet lab high throughput automation and dry lab computational biology for decades.

A recently created internal team known as the Digital Biologics Discovery Group aims to expand its focus on generative biology. Leading that group is Alan Russell, who is currently Amgen’s vice president of biologics. Before joining the company, Russell founded and led the McGowan Institute for Regenerative Medicine at the University of Pittsburgh. He also created and led the Disruptive Health Technology Institute at Carnegie Mellon University.

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