TLDR: PhnyX Lab, an AI tech startup specializing in generative AI for the life sciences sector, has successfully raised $4 million in a seed funding round. The investment was led by SK Networks, with notable participation from AI pioneers Aidan Gomez (Cohere) and Illia Polosukhin (NEAR Protocol). The funding will accelerate the development and global expansion of its “Cheiron” platform, which streamlines workflows in medical and pharmaceutical fields.
PhnyX Lab, a cutting-edge generative AI startup focused on transforming operations within the life sciences industry, announced today the successful closure of a $4 million seed funding round. The investment, structured as a SAFE (simple agreement for future equity), was spearheaded by SK Networks. The round also saw significant participation from prominent angel investors, including Aidan Gomez, co-founder and CEO of Cohere, and Illia Polosukhin, co-founder of NEAR Protocol. Both Gomez and Polosukhin are recognized as original co-authors of the seminal paper “Attention Is All You Need,” which laid the groundwork for modern generative AI models.
This strategic investment follows extensive discussions between the angel investors, Choi Sung-hwan, executive adviser to PhnyX Lab and COO of SK Networks, and Bae Min-seok, CEO of PhnyX Lab. Their collective conviction in the transformative potential of AI in the life sciences sector was a key driver for the funding.
Bae Min-seok emphasized the significance of this funding, stating, “This funding marks an important milestone that reflects PhnyX Lab’s potential to fundamentally transform how life science companies work. Our mission goes beyond improving efficiency — we’re reimagining the way critical work gets done, helping organizations accelerate not only drug discovery but also approval and delivery.” He further highlighted the early success and rapid adoption of their flagship platform, Cheiron, by leading pharmaceutical companies, which has “proven the real-world impact of our technology.” With this capital, PhnyX Lab is poised to expand its team, enhance its product capabilities, and forge global partnerships to push the boundaries of AI in life sciences.
PhnyX Lab, founded in Silicon Valley, originated from SK Networks’ AI development department. The company’s core competitive advantage lies in its Modular RAG (Retrieval-Augmented Generation) architecture, which addresses the limitations of Large Language Models (LLMs) and provides accurate, highly secure, and reliable information in real-time. This modular approach minimizes manual effort, reduces development time by 50%, and offers flexibility, security, and scalability for enterprise AI solutions.
The company’s flagship platform, Cheiron, launched in December 2024, has already gained substantial traction. Over 60 companies, including all of Korea’s top 10 pharmaceutical companies by revenue, are utilizing Cheiron to streamline complex workflows such as research paper and clinical trial searches. Cheiron is South Korea’s first Modular RAG-based solution specifically designed for the medical and pharmaceutical fields. It understands MeSH (Medical Subject Headings) keywords and leverages platforms like PubMed and Semantic Scholar to deliver specialized and reliable information, enhancing work efficiency by enabling seamless data searches across various sources within a single platform. The platform’s multilingual capabilities also ensure exceptional global scalability. PhnyX Lab aims to foster innovation in the pharmaceutical and healthcare industries by addressing existing complexities and inefficiencies.
Also Read:
- EU Backs US-Led AIxBlock with €1.5M Grant, Paving Way for €61.5M Expansion of Decentralized AI in Europe
- BingX Labs Commits $16 Million to Advance Web3 and AI Innovation in First Year
Looking ahead, PhnyX Lab plans to expand Cheiron into a broader product suite and refine its technology by acquiring more clients within the medical and pharmaceutical sectors, while also improving its international presence through tailored solutions for individual companies. SK Networks has actively supported PhnyX Lab by leveraging its global AI expertise and network, identifying technology trends, and providing consistent investment and partnership through its Hicosystem network of specialists.
