US investor Odyssey Therapeutics acquires majority stake in Britain’s quantum drug discovery start-up Rahko
(Telegraph) London-based Rahko, which was developing software designed to utilise quantum computers for drug discovery, has been swooped upon by US-based Odyssey Therapeutics.
Odyssey, which is based in Boston, confirmed this week that it had raised $218m in venture capital funding to back new drugs and drug discovery technologies. It has acquired a majority stake in Rahko, which was founded in 2018 by computer science graduates at UCL. The start-up previously secured funding from Balderton Capital in 2019. Click here to read Odyssey’s news release of its $218M funding
Rahko’s website states that it is “solving drug discovery with quantum machine learning”, developing a drug discovery service called Hyrax that applies drug discovery algorithms to quantum computers. It has around a dozen staff, according to LinkedIn. One technology investor said Rahko had struggled to raise additional funds. Rahko and Odyssey did not respond to requests for comment.