Numerate Closes $5.5 Million Series B Financing

SAN BRUNO, Calif. Numerate, Inc., a biotechnology company leveraging a novel drug engineering process to design lead-stage drug compounds, announced today that it has completed a $5.5 million Series B financing. Foundation Capital led the round and was joined by Lanza techVentures, both existing investors.

“This increased investment demonstrates our confidence in the ability of Numerate’s computationally-based drug design process to deliver high-potential clinical candidates at a fraction of the cost and time required by traditional processes,” stated Adam Grosser, a general partner with Foundation Capital. “We believe there is a large opportunity for this innovative technology to address industry-wide needs for greater efficiency and less risk in drug discovery.”

According to Guido Lanza, Numerate’s president and chief executive officer, “This investment will help support our business model of partnering with biotechnology and pharmaceutical companies while building on our drug design platform that provides compounds with the best chance of succeeding in the lab, clinic and marketplace.”

About Numerate

Numerate is a privately held biotechnology company that has developed and extensively validated a drug engineering process that rapidly and cost-effectively delivers small molecule drug candidates optimized for efficacy, safety, and patentability. Numerate’s drug engineering process combines advances in computer science, statistics, and molecular modeling to address, in parallel, the factors that determine the success and failure of a drug. Numerate applies this proprietary process to design and develop small molecule therapeutics in collaboration with a variety of partners in the pharmaceutical and biotechnology fields. For more information, please visit www.numerate.com.

Source: Numerate, Inc.