A startup using AI to find new treatments for rare diseases just raised $121 million. Here’s why its CEO still has a dire prediction for the industry.

Canada News News

A startup using AI to find new treatments for rare diseases just raised $121 million. Here’s why its CEO still has a dire prediction for the industry.
Canada Latest News,Canada Headlines
  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

'We are just coming off a peak hype cycle and about to go through the valley of disillusionment,' he says.

But ultimately,"I think it's hard to build a super-valuable business that changes the industry if you're focused on a single swathe. And that's where 90-plus-percent of the companies are," Gibson said in an interview at Business Insider's New York City headquarters in June.

Recursion has raised $333.7 million total, including the Series C, with a $646 million valuation, according to PitchBook.Creating a new drug takes a decade and costs a fortune. Investors have poured almost $1 billion into startups trying to change that. "Candidly, I think big pharma is asleep behind the wheel" in this area, Dar said. Lux Capital has $1.5 billion under management, and Recursion is"one of our biggest positions across our funds," Dar said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

BusinessInsider /  🏆 729. in US

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Would you trust an algorithm to diagnose an illness?Would you trust an algorithm to diagnose an illness?We put a lot of trust in our doctors — we listen to their diagnoses, take out their prescriptions, follow their dietary suggestions. Would we do the same for a computer?
Read more »

'Spider-Man: Far From Home' Team Considered a Donald Glover Cameo'Spider-Man: Far From Home' Team Considered a Donald Glover CameoScreenwriters Chris McKenna and Erik Sommers delve into the many alternate paths (hearing Tony Stark's voice as an A.I.?) they went down crafting the script: 'some ideas you just have to give up.'
Read more »

After losing husband to rare neurological disease, a widow tries to raise awarenessAfter losing husband to rare neurological disease, a widow tries to raise awarenessIn 2004, things unfortunately took a drastic turn when Sam, Feldman's husband, was unexpectedly diagnosed with Progressive Supranuclear Palsy (PSP).
Read more »

Outdoor Voices Is Having a Rare Summer SaleOutdoor Voices Is Having a Rare Summer Sale$55$33\r\nThese fun, printed shorts can go from beach trips to workouts at the gym.
Read more »

The Weirdly Effective Beauty Treatment That Uses a ScalpelThe Weirdly Effective Beauty Treatment That Uses a ScalpelAll the benefits you need to know about dermaplaning.
Read more »

Meghan Markle Does Keratin Treatments to Get Straight Hair—Here's How It WorksMeghan Markle Does Keratin Treatments to Get Straight Hair—Here's How It WorksEverything you need to know about keratin treatments.
Read more »



Render Time: 2025-03-19 12:05:08