U.K. – London-based biotech startup Basecamp Research has secured a major US $60 million funding round and a collaboration with the Broad Institute of MIT and Harvard to accelerate AI-driven drug discovery.
The partnership and fresh investment highlight Basecamp’s unique approach to harnessing artificial intelligence for biological insights, marking a significant step forward in the field of biotechnology.
Basecamp Research is developing an AI platform capable of answering complex questions related to biology and biodiversity.
Unlike conventional AI applications that focus on language or image generation, Basecamp’s models are designed to analyze biological data and uncover insights that were previously beyond human capability.
This includes creating solutions for drug discovery and addressing major challenges related to environmental sustainability.
CEO Glen Gowers explained, “There is a massive data gap in biology, and many models lack exposure to the full diversity of the natural world.”
To close this gap, Basecamp has partnered with over 100 organizations across 25 countries, collecting primary biological data to fuel its AI models.
Cutting-edge partnerships and applications
Basecamp’s AI-powered platform has attracted significant attention from various industries.
For example, consumer goods giant Procter & Gamble is using Basecamp’s technology to design enzymes for cold-water detergents, while Colorifix is leveraging it to develop sustainable fabric dyes.
The startup’s flagship AI model, BaseFold, has shown superior performance in predicting complex protein structures compared to DeepMind’s AlphaFold 2, which recently earned its creators a Nobel Prize in Chemistry.
The partnership with the Broad Institute is particularly focused on advancing genome editing and developing genetic medicines.
The collaboration will use Basecamp’s datasets alongside research from the lab of Dr. David R. Liu to create novel fusion proteins and other large molecules for therapeutic purposes.
Building a biological AI from the ground up
Basecamp’s approach is rooted in primary data collection from natural environments, such as hot springs and volcanoes, to build a comprehensive database of biological systems.
According to Gowers, this data-driven foundation allows the AI to gain a deeper understanding of DNA and biology, giving it a significant advantage in modeling complex biological processes.
Basecamp also boasts one of the largest computing clusters dedicated to biodiversity, ensuring that the AI has the processing power needed to manage vast amounts of biological data.
The ultimate goal is to create an AI platform that can address previously unasked questions in the biopharma industry, potentially revolutionizing drug discovery and biological design.
Growing momentum and future goals
With the US $60 million Series B funding round, led by European firm Singular, Basecamp aims to further develop its AI models, increase its computing capacity, and design new foundational models that are capable of completing increasingly complex tasks.
According to Basecamp, it has compiled a foundational dataset that contains 100 times more advanced biological systems information than most public databases — “the largest, ethically sourced database of biological information to give AI the most complete understanding of biology ever,” Gowers said.
“This allows us to design more complex biological systems than anyone else with performance improving dramatically as AI sees more diversity and context.”
The company’s roadmap includes helping biopharma companies in drug discovery while continuing to explore new applications in environmental science and sustainability.
The latest round of investment brings Basecamp’s total funding to US $85 million. Notable participants include S32, Redalpine, Roche Vice-Chairman André Hoffmann, Royal Philips Chair Feike Sijbesma, and former Unilever CEO Paul Polman.
Its previous investors include Hummingbird, True Ventures, and strategic backer Valo. PitchBook put its last valuation, from 2022, at a very modest US $71 million.
Meanwhile, Basecamp also hired Anupama Hoey as chief commercial officer. She most recently served as chief operating and business officer at Foundation Therapeutics.
