Former Stanford University president's AI start-up raises $1 billion
What's the story
Xaira Therapeutics, a new entrant in the drug development industry, has successfully raised $1 billion in funding. The start-up is led by Marc Tessier-Lavigne, former President of Stanford University and now CEO of Xaira. The significant funding round includes contributions from influential Silicon Valley entities, such as Sequoia Capital and Lightspeed Venture Partners. Xaira's main goal is to utilize artificial intelligence to discover innovative drugs for disease treatment.
Practice
Tessier-Lavigne is on a sabbatical at Stanford University
Tessier-Lavigne stepped down from his role as Stanford University's President last year, amid inquiries into his scientific research. Despite this, an independent committee found no evidence of misconduct or data manipulation in his work. He remains a part of Stanford's faculty and is currently on sabbatical to concentrate on Xaira Therapeutics. Robert Nelsen from ARCH Venture Partners, who invited Tessier-Lavigne to lead the firm, expressed "huge confidence" in him.
Work
Tessier-Lavigne's prior ventures
Xaira Therapeutics was founded at Foresite Labs with support from ARCH Venture Partners, known for backing industry giants like Illumina, Sage Therapeutics, and Vir Biotechnology. Prior to his academic roles as President of Stanford and Rockefeller University, Tessier-Lavigne served as Senior Vice President of research drug discovery at Genentech Inc. He also co-founded Denali Therapeutics, a company that Nelsen previously supported.