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A Toronto startup with roots at U of T hopes to catch the next big wave in computing

For decades, quantum computing research largely happened in university laboratories, where the field’s tremendous theoretical potential contrasted with the reality of slow, incremental progress. Today, though, startups and established tech companies are helping to drive advances in the field, bringing quantum computing into the mainstream.

U of T’s Deep Genomics secures $40 million in financing for AI drug development platform

Deep Genomics, an artificial intelligence-powered drug discovery start-up co-founded by the University of Toronto’s Brendan Frey, recently raised $40 million in Series B funding, Betakit reports.

The latest round, led by Future Ventures and including investments from Amplitude Ventures, Khosla Ventures, Magnetic Ventures and True Ventures, brings the startup’s total funding to date to $61 million.

Deep Genomics raises $40 million in Series B financing

TORONTO — Deep Genomics, the leading artificial intelligence (AI) therapeutics company, announced today the closing of its Series B round with $40 million in new investment. The proceeds from this financing will be used to develop new treatments for rare genetic diseases, and to expand the company’s proprietary AI discovery platform to support the discovery and development of novel therapies for more common disorders