Colorcon Ventures, the corporate venture fund of Colorcon, has invested in VeriSIM Life, a San Francisco-based startup with a digital bio-simulation platform designed to accelerate drug development and reduce animal testing.
Most drugs tested in animals fail to pass human clinical trials, VeriSIM says, resulting in delayed development and high costs. The company claims its BIOiSIM platform de-risks R&D decisions by providing insights much earlier in the drug development process using AI.
Ali Rajabi-Siahboomi, VP and Chief Innovation Officer at Colorcon, said: “VeriSIM aligns with Colorcon Ventures’ strategic focus on improving efficiencies in the drug development process. We believe VeriSIM can lower overall pharmaceutical development cost and accelerate time to market.”
Jo Varshney, VeriSIM’s Founder and CEO, said: “We are pleased to have Colorcon join us as a strategic investor. Access to Colorcon’s global R&D relationships and expertise should prove helpful as we scale VeriSIM in the years ahead.”
Colorcon Ventures joins the list of investors who also participated in VeriSIM’s recently announced Series A, including Morpheus Ventures, Debiopharm Innovation Fund, OCA Ventures, Intel Capital, Serra Ventures and Susa Ventures.
