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Causaly, a company that uses AI for biomedical research, has closed a $60m Series B round led by ICONIQ Growth, with participation from Index Ventures, Marathon Venture Capital, EBRD, Pentech Ventures and Visionaries Club.

Alex Gorsky, former chairman and CEO of Johnson & Johnson, and Olivier Pomel, CEO and co-founder of Datadog, also participated.

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Serving 12 of the top 20 pharmaceutical companies, Causaly reports it has tripled its revenue and customers. The company has now raised $93 million in total, which will be used to extend its product lead and expand commercial relationships.

The UK-based company is aiming to accelerate the drug discovery process for complex diseases such as Parkinson’s, cancer, and multiple sclerosis.

The technology uses a hybrid approach combining a knowledge graph with the latest advances in generative AI. The platform is being used at scale for diverse workflows, from target identification to biomarker discovery.

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Causaly’s customers include Gilead, Novo Nordisk, Regeneron, the US Food and Drug Administration and the National Institute of Environmental Health Sciences.

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“The sciences are at a turning point driven by the adoption of AI, and we believe Causaly is a leader in delivering this power to scientists in a highly trusted and verifiable manner,” said Caroline Xie, general partner at ICONIQ Growth which led the Series B round.

In May 2021, Causaly raised $17m. Venture capital firm Index Ventures led the Series A investment, joined by Marathon, Pentech and EBRD. Carlos Gonzalez-Cadenas, partner at Index also joined the board.