Generate: Biomedicines applies AI-driven optimization and de novo generation to design novel protein therapeutics across multiple disease areas. The company is clinical stage and maintains a pipeline of approximately 20 programs spanning preclinical to clinical development in oncology, immunology and infectious diseases. It was founded by Flagship Pioneering in 2018 and is led by CEO Mike Nally. The firm is based in Somerville, MA. Generate:Biomedicines intends to use newly received funds to expand operations and its R&D efforts. No revenue or other financial metrics were disclosed in the article. Generate:Biomedicines builds The Generate Platform, a machine-learning-powered continuous loop to generate, build, measure, and learn that creates novel protein therapeutics across modalities from peptides to complex antibodies, enzymes, and cell therapies. The company has a pipeline of 17 programs in preclinical and clinical development and has initiated its first-in-human trial for GB-0669 (an anti‑SARS‑CoV‑2 monoclonal antibody). It has expanded platform capabilities into bi‑specifics, enzymes, T‑cell engagers, and cell therapy and achieved structural confirmation of its first de novo binders. Generate:Biomedicines employs more than 280 people and says it will use new funding to file multiple INDs in 2024 and initiate multiple clinical trials annually thereafter. The company plans to invest in further platform development, start new programs, advance multiple programs through clinical trials, and pursue value‑creating collaborations. Generate:Biomedicines was launched by Flagship Pioneering and the company was founded and launched in 2020 in Somerville, Mass. Generate Biomedicines operates a platform-focused approach to drug development that uses artificial intelligence to learn foundational principles of protein biology and design novel proteins. The company says it can generate molecules across protein modalities, including antibodies, peptides, enzymes and cell- and gene-therapy modalities, and has initially focused on antibodies (which Nally says account for about 60% of the protein-based biotherapeutics market). Its technology couples proprietary experimental assays with machine learning to co-optimize protein function and reduce immunogenicity. Generate has several drug candidates in preclinical development targeting infectious disease, oncology and immunology, and aims to pursue Investigational New Drug (IND) status by 2023. With 80 employees today, the company plans to scale the workforce to 500 and is building two facilities to expand wet-lab, machine-learning and data-generation capabilities. Financially, Generate emerged from stealth in 2020 with an initial $50 million investment from Flagship Pioneering and has just completed a large external raise to accelerate platform and pipeline work.

Total raised

$643M

Funding rounds

3

Latest round

Series C

Latest activity

Sep 2023