New AI start­up launch­es with $40M; Ob­sE­va an­nounces reg­u­la­to­ry holdup for flag­ship drug

A new AI plat­form biotech an­nounced its launch this morn­ing — out of San Diego, CA.

1859, Inc. is the name of the new com­pa­ny, which spun out of sci­ence in­cu­ba­tor and ac­cel­er­a­tor JLABS af­ter be­ing found­ed in 2019 — and claims to com­bine AI and screen­ing da­ta for drug dis­cov­ery. Ac­com­pa­ny­ing the launch was a $40 mil­lion Se­ries A, which was led by VCs North­pond Ven­tures and OMX Ven­tures. Two oth­er com­pa­nies joined in on the round: ex­ist­ing in­vestors Fu­sionX Ven­tures and Ver­ti­cal Ven­ture Part­ners.

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