Numerate Completes $4 Million Financing

SAN BRUNO, Calif.--(BUSINESS WIRE)--Numerate, Inc., a biotechnology company leveraging a novel drug engineering process to design lead-stage drug compounds, announced today that it has completed a $4 million Series A financing. Investors included Foundation Capital, Lanza techVentures and various individuals. Concurrent with the financing, Adam Grosser, a general partner with Foundation Capital, has joined Numerate's Board of Directors.

"We are confident that Numerate's computationally-based drug design process can help fill the critical gap that currently exists between basic research and the development of high-potential clinical candidates," stated Mr. Grosser. "This novel capability has the potential to serve as an alternative to the in-licensing of preclinical drug candidates, at a fraction of the cost and in less time than the in-licensing process."

According to Guido Lanza, Numerate's president and chief executive officer, "This investment will help Numerate to pursue a broad range of partnering opportunities. Our plan is to deliver robust lead-stage programs in return for significant milestone and royalty payments that are linked to success in the lab, the clinic and the marketplace. In this way, we mitigate the chemical design risk for our partners. Adam Grosser's extensive experience in launching innovative start-ups will be invaluable as we implement this strategy."

Numerate's drug engineering process combines advances in computer science, statistics, and molecular modeling to address, in parallel, the key objectives of safety, efficacy and novelty at design-time. The result is active, selective, synthesizable, and patentable drug leads.

About Numerate

Numerate is a privately held biotechnology company that has developed and extensively validated a drug engineering process that rapidly and cost-effectively delivers small molecule drug candidates optimized for efficacy, safety, and patentability. Numerate applies this proprietary process to design and develop small molecule therapeutics in collaboration with a variety of partners in the pharmaceutical and biotechnology fields. For more information, please visit www.numerate.com.