Stonewise Closes on $10M Series A Funding Round

According to VCBeat, Beijing-based Stonewise Technology Co., Ltd. ("Stonewise"), a platform that uses artificial intelligence (AI) for drug development, has completed its Series A financing of nearly 10 million dollars, jointly invested by Long Hill Capital and Linear Venture. Mingxi Capital served as the financing financial adviser in the latest round. 

Proceeds of this financing will be used for research and development, optimizing Stonewise's technology platform, building database, promoting strategic cooperation and business, and expanding its technical and management team, the firm said in a statement.

StoneWise, founded in 2018, is a technology company committed to accelerating novel drug discovery with artificial intelligence. The company intends to use AI technology and innovation to lead a paradigm shift in drug discovery for the pharmaceutical industry. StoneWise aims to replace the previous single-engine drug R&D focusing on experts based model with the new twin-engine drug R&D model with advanced AI technology and expert system.

StoneWise's platform is designed by cutting-edge technologies such as artificial intelligence and microfluidics, integrated with computational chemistry, computational biology, pharmacology and clinical medicine. The platform provides pharmaceutical companies with integrated solutions to enhance the efficiency and success rate of early-stage drug discovery., including a vast range of tools such as medical knowledge graph, the discovery of privileged scaffolds, molecular generation and design, as well as predicting reaction products and planning path synthesis. 

StoneWise has conducted research and been sharing the electronic structure data of more than 1400 nucleoside inhibitors against various RNA polymerases from patents up to February 5, 2020. Using its proprietary AI-driven drug design platform, StoneWise has ranked dozens of nucleosides from these molecules as potential inhibitors against SARS-CoV-2 RNA polymerase.

Long Hill Capital is a next-generation thesis-driven venture capital firm. It invests in technology-enabled healthcare and consumer services companies which seek to massively improve health and quality of life for every Chinese. Since 2005 the founding team of Long Hill Capital has led the China investing practice for New Enterprise Associates (NEA), a global investment firm with over $17 billion in committed capital.

Linear Venture was founded by Jingdong, Lynx former executives and early Facebook employees Chuan Wang Huai, attention Pan smart, technology-driven big data early in the project area.