SandboxAQ, a prominent enterprise SaaS company, has recently acquired Good Chemistry, a leading computational chemistry firm specializing in AI, quantum, and advanced technologies for expediting drug discovery and materials design. This acquisition in a deal for about $75 million in cash and stock, marks SandboxAQ’s entry into the AI simulation sector, brings valuable technologies, customers, and top-tier talent to the company. Good Chemistry, previously spun out of 1Qbit in 2021, brings with it a wealth of experience and industry insights from collaborations with key players such as Dow and the Japanese chemical manufacturer Dī Ai Shī Kabushiki-gaisha.
The acquisition is anticipated to fortify SandboxAQ’s existing computational chemistry and simulation capabilities, propelling the company into a position of advanced and scalable computing for highly accurate chemical simulations. Dr. Nadia Carlsten, Vice President of Product at SandboxAQ, highlighted that integrating Good Chemistry’s software and partnerships will enable SandboxAQ to swiftly extend the benefits of advanced simulation and AI tools to a broader customer base, facilitating impactful use cases in new drug and material synthesis.
Arman Zaribafiyan, founder and CEO of Good Chemistry, will assume the role of Head of Product for AI Simulation Platforms at SandboxAQ. The acquisition encompasses the incorporation of Good Chemistry’s software, including QEMIST Cloud and Tangelo, into SandboxAQ’s growing enterprise software portfolio. QEMIST Cloud, a robust SaaS-based computational chemistry platform, enables high-accuracy quantum simulations across various industries, including biopharma, chemical, oil and gas, and automotive. Tangelo, an open-source quantum computing SDK, supports end-to-end chemistry workflows and facilitates rapid experimentation across major quantum cloud providers and hardware devices.
The investor base of Good Chemistry, including Green Sands Equity, Allianz, Fujitsu, Agentis Capital, and WorldQuant Ventures, will now join the investor base of SandboxAQ.
A press release from SandboxAQ announcing the acquisition is available here.
January 9, 2024
