Space Pharmaceuticals establishes presence in Basel
Space Pharmaceuticals AG is strengthening the life sciences cluster in the Basel Area. At its research lab, the cheminformatics company focuses on the discovery of peptides for the life sciences industry, for which it seeks to leverage the benefits of Artificial Intelligence.
Space Pharmaceuticals uses Artificial Intelligence (AI) for the discovery of molecules (small molecules and peptides) to address unmet needs as novel drugs. The company, which has ties with China and satellite offices in Boston and San Francisco in the USA, has launched the GDBspace business unit for drug discovery. A second business unit, the Space Peptides laboratory, manufactures peptides directly for the life sciences sector from research to large-scale production. The company was supported by the investment and innovation promotion agency Basel Area Business & Innovation in bringing Space Peptides to the region. (Read more about starting a business in Switzerland)
Work at Space Pharmaceuticals is supported by research carried out by Jean-Louis Reymond at the University of Bern. “With our Swiss roots, we are proud of being part of the life science cluster in Basel”, comments Runze He, CEO of Space Pharmaceuticals. The key factor behind the location selection was, among other aspects, the well-developed ecosystem containing reputable, well-known life sciences firms, which will make it easier for Space Pharmaceuticals to agree pioneering partnerships in the local area. Moreover, the use of AI has increased sharply in the area of drug discovery and development over recent years. In this context, Runze He hopes to further advance collaborations across life sciences, data and technology in the Basel Area.
Staff expansion planned
After Space Pharmaceuticals banked a total of 13 million Swiss francs as part of a Series A financing round, the company is now also looking to bring on board additional skilled workers in the Basel Area. At present, Space Pharmaceuticals has five full-time employees at the Basel site. Moving forwards, the company will seek to double its talent pool each year.