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Genentech
Trends
- 1Ex-Genentech trio raises half a billion for AI healthcare startup▼Here's what you get when you mix AI, an ex-Genentech trio, a knotty healthcare system and a half-billion dollars
Three former Genentech executives have launched an AI-focused healthcare startup backed by roughly half a billion dollars in funding, according to business press coverage. The venture aims to apply artificial intelligence to the complexity of the US healthcare system, and the size of the raise and the founders' biotech pedigrees are drawing attention from investors and industry watchers.
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Former Genentech artificial intelligence staff have launched Ortet, a new health-focused startup, backed by $500 million in funding. The company will apply AI to drug discovery and healthcare development, drawing on the founders' experience at one of the world's leading biotechnology firms. The large initial funding round makes Ortet one of the most heavily financed health AI launches to date.