Proxima has raised an oversubscribed US$80m seed round for AI drug discovery in proximity therapeutics, which aim to control protein interactions.
The New York and Boston-based company, formerly known as VantAI, has rebranded to reflect its focus on building the technology and data needed to unlock proximity-based therapeutics.
These medicines work by controlling how proteins interact with one another, rather than simply blocking or activating a single target.
The approach includes molecular glues and PROTACs, which can bring proteins together and help reach targets long seen as “undruggable”.
The new funding will accelerate the advancement of proximity-modulating therapeutics across oncology, immunology and other disease areas.
Zachary Carpenter is co-founder and chief executive of Proxima.
He said: Proximity-based medicines represent one of the most powerful new ways to treat disease, but progress has been constrained by a lack of structural data and accurate design tools.
“By combining proteome-scale structural data with frontier AI models, we’re building the foundation needed to make these therapies broadly accessible rather than rare exceptions.”
At the core of Proxima’s platform is its NeoLink data-generation technology, which produces structural information on protein complexes at proteome-wide scale, paired with its Neo AI model series.
The company said these systems enable end-to-end discovery and development of proximity-modulating small molecules.
The round was led by DCVC, with participation from NVentures, Nvidia’s venture capital arm, Braidwell, Roivant, AIX Ventures, Yosemite, Magnetic Ventures, Alexandria Venture Investments and Modi Ventures, as well as other strategic and institutional investors.
Jason Pontin is general partner at DCVC and will join the company’s board.
Pontin said: “Proximity-based therapeutics represent one of most promising frontiers in modern drug discovery with the potential to treat previously intractable diseases and target ‘undruggable’ proteins.
“Proxima’s technology combines proteome-scale structural data with state-of-the-art generative AI foundation models, and the company’s team is uniquely well-positioned to discover and develop a new class of medicines.”
Proxima has secured multibillion-dollar research collaborations with Johnson & Johnson, Bristol Myers Squibb and Blueprint Medicines.
Multiple co-developed programmes with partners are advancing towards the clinic, with the first on track to enter clinical trials in 2026.
