(Yicai Global) July 30 -- BioMap, a life sciences company founded by Robin Li, chairman of Chinese search engine giant Baidu, has raised more than USD100 million in a fundraiser, according to technology information website 36Kr.

The funds raised in the Series A financing round will be used to further increase investment in the research and development of biocomputing engines, the company said today, according to the report.

The fundraiser was led by GGV Capital, a well-known venture capital firm from California, followed by many institutions, including Beijing-based Baidu. Li himself also made an additional investment.

Following the round, BioMap will continue its R&D in various fields, including high-performance biocomputing technology, increase talent hiring, and promote the development of its first batch of drugs.

Li took the lead in founding BioMap last November and serves as its chairman. The company aims to develop an innovative drug R&D platform called the biocomputing engine. This engine will use artificial intelligence to sift through mountains of biological data and map out disease targets and drug designs, thereby improving the R&D efficiency of drugmakers.

The company is building its own laboratory in order to apply AI technology to all aspects of drug development in a practical manner, thus improving the efficiency of the industry’s operation throughout the process, it said.

BioMap will also focus on the immune mechanism research of tumors, autoimmune diseases and fibrotic illnesses in the future, it added.

Editor: Peter Thomas