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BigHat Biosciences, a protein therapeutics startup and developer of an AI-guided antibody design platform, today announced it has closed a $19 million series A round led by Andreessen Horowitz. A spokesperson told VentureBeat the funding will be used to invest in R&D as BigHat further refines its antibody engineering processes.
The use of biologics — medications made of components like sugars, proteins, DNA, whole cells, and tissues — is on the rise in drug development. Two years ago, seven of the top 10 drugs were biologics. Today, more than 200 biotherapeutics are in use. They are estimated to generate over $100 billion in annual revenue for drug companies, but they’re difficult to design, particularly those that leverage