Groovy Medicine (Hangzhou) Co., Ltd. (hereinafter referred to as "Groovy Medicine"Chinese：高维医药 ) recently completed tens of millions of RMB in angel round financing. This round of financing was funded by BETTA Pharmaceutical Industry Fund（Chinese：贝达生物医药产业基金） , West Lake Innovation Investment（Chinese： 西湖创新（杭州）私募基金管理有限公司） and many other well-known investment institutions jointly invested.
Groovy Medicine was established in 2022 and is committed to building a world-leading drug discovery platform to provide new drug solutions for major refractory diseases such as cancer and neurodegenerative diseases. Groovy Medicine is committed to opening up the end-to-end development of new drugs through innovative methods and cutting-edge technologies.
At present, Groovy Medicine's drug discovery platform has established multiple product pipelines, and several first-in-class R & D projects have been successfully advanced to the preclinical stage.
EqualOcean consulted the National Bureau Of Statistics data. In 2022, there were 8,814 enterprises above designated size in my country's pharmaceutical manufacturing industry, with a total output value of CNY 3.15 trillion（USD 495.24 billion）, a total asset value of CNY 4.79 trillion, sales revenue of CNY2.9 trillion yuan, and total profit of CNY 629.05 billion. With the rapid and sustained growth of my country's national economy, the living standards of my country's people have also been improved, and my country's pharmaceutical industry has also developed rapidly.
Check the official website of Groovy Medicine, their current overseas plan is the Americas. AI pharmaceuticals have very broad prospects. According to a report released by Markets and Market（Chinese：互联网数据咨询网） , the revenue value of global AI in the drug discovery market will be 600 million US dollars in 2022, and it is expected to reach USD 4 billion by 2027. Domestic AI pharmaceutical twins include linsilico Medicine（Chinese： 英砂智能）and Cloudwalk（Chinese：云从科技）. New hopes for foreign AI pharmaceuticals come from NVIDIA（Chinese：英伟达）, Recursion , admission to the AI pharmaceutical industry; Causalem y of the United Kingdom, etc.
The funds raised in this round of financing will mainly be used to support Groovy Medicine to establish a high-dimensional biology-driven innovative drug discovery platform to meet the needs of R & D investment and application promotion of innovative drug solutions for major diseases such as cancer and neurodegenerative diseases.