The Vancouver-based biotech said it will use the funds to advance its proprietary platform, which uses artificial intelligence and cryogenic electron microscopy (cryo-EM) to aid with drug development. (The Logic)

Talking point: Cryo-EM lets scientists study the architecture of cells, viruses and protein assemblies at the molecular level. Gandeeva said its platform uses it to visualize and analyze protein-drug interactions at a greater speed and detail than previously possible, providing information on how disease-relevant proteins function and how to target them. The company hopes to bring cheaper drugs to market faster. The round—Gandeeva’s first, according to PitchBook—was co-led by Lux Capital and Leaps by Bayer. B.C.’s biotech sector has done well in recent years, with AbCellera growing into an anchor company and Eupraxia Pharmaceuticals completing the first sole Toronto Stock Exchange listing by a Canadian biotech in 18 years.