Scottish university spin-out secures £36m to ‘digitise chemistry’
A Scottish University spin-out has secured £36 million from a number of investors.
Chemify is a Glasgow University company using chemical manufacturing technology to provide pharmaceutical, biotechnology, and industrial partners with better molecules in less time.
Part of its funding was secured through a series A funding round led by Triatomic Capital, with participation from venture firms in Hong Kong and the US, as well as Scotland-based Eos.
More funding came through the UK Government Innovation Accelerator program.
Founded in 2019 by chief executive Lee Cronin, Chemify is based on decades of chemistry research, robotics, artificial intelligence (AI), and conceptual advancements from Cronin’s digital chemistry laboratory at the University of Glasgow.
It claims it can help reduce the amount of costly and time-consuming experimentation required to discover promising new molecules, speeding up their development as products to underpin advances in medicine, farming, materials science, and green energy.
It says the funding will be used to accelerate the growth of the company and performance of its technology platform.
Lee Cronin said: “It has long been our dream to digitize chemistry, and I’m delighted that through this funding, Chemify is building a company that can design, make, and discover complex molecules on demand using digital blueprints on demand faster, more efficiently, and safely than is currently possible.
“Our mission is to deliver better molecules for pharmaceutical and industrial partners in a fraction of the time and cost currently required.”
Chemify’s underlying technology was designed and developed by Cronin and his team at the University of Glasgow, based at the Mazumdar-Shaw Advanced Research Centre.