https://techstory.in/ex-meta-scientists-launch-evolutionaryscale-with-142m-investment-to-unveil-next-gen-ai-model-for-protein-design/
In a compelling development within the biotech sector, the startup EvolutionaryScale has recently marked its entry with an astounding $142 million seed funding round. This impressive financial backing is dedicated to the advancement of sophisticated AI models purposed for the synthesis of new proteins, which hold significant promise for scientific exploration. Co-founded by former Meta (previously Facebook) scientists, EvolutionaryScale unveiled its pioneering AI model, ESM3, aimed at transforming the field of protein design. This innovative approach is expected to find applications ranging from drug discovery to materials science, illustrating a considerable leap forward in biotechnological research and development.
Leading the seed funding round were notable figures and entities, including Nat Friedman, former GitHub CEO, Daniel Gross, and Lux Capital, with notable participation from giants such as Amazon and NVentures, Nvidia’s venture arm. This considerable investment highlights the faith and interest vested in EvolutionaryScale's approach to leveraging artificial intelligence in biotechnology.
The AI model in question, ESM3, is a creation of EvolutionaryScale’s co-founder, Alexander Rives, and his team. Rives explains that ESM3 brings together the principles of AI and biological engineering, enabling the design and creation of new proteins. This initiative is akin to employing AI in the development of structures, machines, and microchips but within the realm of biology. The potential applications of ESM3 span across various domains, opening up avenues for the development of new drugs, research tools, and therapeutic practices.
The origins of EvolutionaryScale trace back to Meta's AI research lab, FAIR, in 2019, where a generative AI model was first developed with a focus on proteins by Rives and his colleagues, Tom Secru and Sal Candido. The disbandment of their team at Meta led the trio to venture independently, culminating in the foundation of EvolutionaryScale.
The heart of EvolutionaryScale's innovation lies in protein design – a meticulous process that involves creating a protein capable of folding into a structure to perform specific functions effectively. ESM3, having been trained on a vast dataset of 2.78 billion proteins, can intelligently predict the sequence, structure, and functional roles of proteins, echoing the capabilities of Google DeepMind's AlphaFold in generating new proteins with desired characteristics.
EvolutionaryScale's significant stride was demonstrated through the creation of a novel variant of the green fluorescent protein (GFP), widely recognized for its luminous qualities in jellyfish and coral. This venture was documented in a preprint paper available on the company's website, serving as evidence of the practical utility of ESM3 in scientific research.
Plans are in place for EvolutionaryScale to make ESM3 accessible for non-commercial use through its cloud-based Forge developer platform, alongside a smaller version of the model intended for offline applications. The company aims to establish revenue streams through partnerships, usage fees, and revenue sharing agreements, with potential collaborations with pharmaceutical companies and researchers to incorporate ESM3 into their workflows.
Moreover, EvolutionaryScale envisions extending ESM3's reach to selected AWS customers through various AI platforms and services, as well as to Nvidia customers, enabling them to fine-tune the model with proprietary data for specific applications.
Despite the innovative breakthrough and financial backing, EvolutionaryScale acknowledges the headwinds in incorporating generative AI models in designing effective therapies, an effort that may span a decade. Competition from established entities in the biotech industry, such as DeepMind’s Isomorphic Labs, Insitro, Recursion, and Inceptive, also presents significant challenges.
Nonetheless, with a deep-pocketed investment and a clear vision, EvolutionaryScale is poised to make significant contributions to the biotech industry, redefining the possibilities of protein design and AI's role in biological advancements.
ME: Please summarize this in two sentences
[AI]: EvolutionaryScale, co-founded by former Meta scientists, has secured $142 million in seed funding to advance their AI model, ESM3, designed for creating new proteins with applications in drug discovery and materials science, positioning the startup at the forefront of AI-powered biotechnological innovation.
ME:
[AI]: EvolutionaryScale, co-founded by former Meta scientists, has secured $142 million in seed funding to advance their AI model, ESM3, designed for creating new proteins with applications in drug discovery and materials science, positioning the startup at the forefront of AI-powered biotechnological innovation. With significant investment from industry giants like Amazon and Nvidia's NVentures, the company aims to revolutionize protein design, offering new avenues for scientific research and development.