HongShan-backed Deep Intelligent Pharma (DIP), which operates a generative AI platform to help transform pharmaceutical and medtech innovations, has raised almost $50 million in a Series D funding round led by Dinghui Baifu, the deeptech-focused investment arm of China’s CDH Investments.
Existing investors Xin Ding Capital and HongShan Capital Group (HSG) reupped in the round, with Chinese investment bank Index Capital serving as the financial adviser.
Beijing-headquartered DIP, which has served over 1,000 pharma and biotech clients, including Johnson & Johnson and Bayer AG, was founded in 2017 to build a next-generation platform of multi-agent swarms based on generative AI models.
Its multi-agent AI platform empowers pharmaceutical and medtech innovators through intelligent automation to streamline scientific writing, statistical reasoning, document validation, and regulatory compliance, targeting one of the most expensive, time-consuming, and error-prone challenges in pharma R&D: the creation of clinical and regulatory documents.
The Series D financing will allow DIP to fund the global expansion of its business and the R&D and upgrade of its AI solutions aimed at improving clinical trial workflows.
The startup plans to actively promote the adoption of its AI platform globally, particularly among going-global pharma and biotech companies from China, as more of them step up their global forays with new drug registrations, clinical trials, and collaborations with foreign players across different markets.
DIP expects its number of clients and client orders to “grow exponentially,” potentially generating “a few billions of Chinese yuan” in revenues this year.
“What DIP has done is the creation of not just one handy AI tool but a systematic platform targeting the high-barrier and heavily-regulated industry of new drug R&D. The team’s years of industry know-how and expertise in AI agentic technologies have formed an extremely high bar to fence off competition,” said Zhang Chi, Chairman of Xin Ding Capital.
Zhang said that leveraging AI to build the tech infrastructure for global pharma R&D makes the best example of AI’s sectoral applications.
DIP is also backed by venture investors like ZhenFund. HSG previously poured nearly $15 million in DIP’s Series B round in October 2018.
