VENTURE — AI drug discovery sector attracts major investment with new $800M VC fund

Investor enthusiasm for AI-driven drug discovery is growing, as demonstrated by Dimension Capital's closing of a new $800 million fund dedicated to the sector. This follows a trend of rising investment, with venture funding in computational biotech hitting $2.2 billion last year, up from $599 million in 2023. While about 850 AI-developed drugs are currently in progress globally, none have yet received regulatory approval in the US.