Hungarian biotech Turbine raises €25.5M in Series A funding round
Budapest-based biotechnology company Turbine has just added €5.5 million from MassMutual Ventures to its €25.5 million Series A funding round. The company is trying to uncover new cancer therapies using cell stimulation and machine learning, EU-Startups informs.
- Founded in 2015 by Dániel Veres, Kristóf Zsolt Szalay, and Szabolcs Nagy, Turbine builds a platform to understand the inner mechanisms of cancer. The company uses its proprietary Simulated Cell technology in combination with AI and ML to build a faster and deeper biological understanding of therapeutic targets.
“Turbine’s platform overcomes the limitations of traditional drug discovery approaches by combining cell simulation and machine learning to uncover novel cancer therapies and the patients most likely to benefit from them. We believe Turbine’s unique approach has tremendous potential to guide biopharma R&D in a new direction,”Anvesh Ramineni, Managing Partner at MMV, comments.
- MassMutual Ventures (MMV) provided the additional funds. The funding adds further US-based investors to the company’s financing syndicate consisting of Mercia Fund Managers, Accel, Merck Global Health Innovation Fund, Delin Ventures, and Day One Capital among others.
- Alongside the funding, Turbine announced the appointments of four directors to its board.
- The fresh funds will be used to advance Turbine’s internal pipeline of simulation-guided programs. The company will also scale its biology simulation platform to support additional partnerships.