AMPLY Discovery Ltd bags £1.4m funding to tackle complex diseases
Belfast-based techbio company AMPLY Discovery Ltd announced today will make use of a £1.4m in grant funding to advance its AI-based drug discovery platform.
The 2021 spin-out from the Queens University Belfast announced it will close a seed financing round this year.vAMPLY is speeding up the discovery of drug candidates for cancer, metabolic, and infectious diseases through AI and synthetic biology, making the discovery of new drugs more predictable and less expensive. Its technology platform has been the subject of more than a decade of research and development.
The company is currently focused on two flagship R&D programmes which will provide technical validation for its development platform. The first programme, focused on RNAi therapies to tackle highly genetically mediated cancers, has been awarded £835,000 by Innovate UK and Innosuisse to develop a new RNAi therapy for Acute Myeloid Leukaemia.
The second programme, focused on inhaled antimicrobial therapies to fight multi-drug resistant (MDR) lung infections, has been awarded £602,000 by Innovate UK to develop a new nebulised antimicrobial product for MDR-TB.
AMPLY raised its initial pre-seed funding in May 2022 and is planning to raise a further £1.4m in a full seed funding round in the second quarter of 2024. The company said the new grant awards further demonstrate the progress it is making towards building a new type of highly efficient platform for drug discovery.
