By Kamal Choudhury

Dec 3 (Reuters) – Excelsior Sciences said on Wednesday it has raised $95 million to develop technology that uses machines and artificial intelligence to accelerate the development and testing of small molecules, aiming to cut years off drug discovery timelines.

The company announced a $70 million Series A round co-led by Deerfield Management, Khosla Ventures and Sofinnova Partners, along with a $25 million grant from New York’s Empire State Development.

It did not disclose the valuation at which the funds were raised.

Small molecules make up the majority of medicines approved in the United States. While treatments such as antibodies and cell therapies are growing, Excelsior CEO Michael Foley said around 60% of new U.S. FDA-approved drugs are small molecules.

However

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