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Genentech
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Former Genentech artificial intelligence staff have launched Ortet, a new health-focused startup, backed by $500 million in funding. The company will apply AI to drug discovery and healthcare development, drawing on the founders' experience at one of the world's leading biotechnology firms. The large initial funding round makes Ortet one of the most heavily financed health AI launches to date.
- 2Ex-Genentech trio raises half a billion for AI healthcare startup●Here's what you get when you mix AI, an ex-Genentech trio, a knotty healthcare system and a half-billion dollars
Three former Genentech employees have launched an AI-focused healthcare startup backed by roughly half a billion dollars in funding. The company aims to use artificial intelligence to navigate and improve the complexities of the US healthcare system. Coverage highlights the scale of the raise and the founders' pharmaceutical backgrounds as notable for the health-tech startup scene.