DeepMatter acquires AI platform to boost its healthtech AI offering
Glasgow-based chemistry data and software company DeepMatter Group has acquired ChemIntelligence in an acquisition that values the business at up to £420,000.
ChemIntelligence is a Lyon-based company that uses artificial intelligence (AI) to develop chemical products, such as medicines, and reactions faster.
The AI enables the prediction of molecules, materials, and formulations, and suggests the most relevant experiments to perform in a secure end-to-end cloud environment. For healthcare, this saves time and money in clinical trials for medicines by ruling out similar, past failed experiments.
The deal will bring together ChemIntelligence’s AI with DeepMatter’s existing chemical reaction data, data collection platform, and AI capabilities, the company said.
The combined group also aims to broaden its knowledge in chemical formulation, which will enable the group to expand its offering and address a broader customer base.
The pair will combine sales and marketing, operations, customer support, and research resources as well.
Mark Warne, CEO of DeepMatter, commented: “The ChemIntelligence team brings considerable expertise which will strengthen our data and AI capabilities with our current customers. It will also allow us to reach new customer segments.
“Our vision is to combine our proprietary chemistry data with proprietary algorithms in order to transform how medicine and other chemical molecules are made, significantly improving productivity, discovery, and sustainability in the field of chemistry.”
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