Proxima Raises $80 Million for AI Drug Design From DCVC, Nvidia

Proxima, a biotech startup using artificial intelligence to design drugs that control protein interactions, raised $80 million in seed funding, which will help it collect better data and eventually develop potential drug candidates.

The financing round was led by DCVC, with additional investors including Nvidia Corp., Roivant Sciences Ltd., and Braidwell LP.

The New York-based company, previously known as VantAI and incubated at Roivant before a spinoff, is working in a fast-growing area of drug development that focuses on how proteins interact inside cells. Instead of switching a single protein on or off, the way many medicines do today, these drugs are designed ...