Sandbox AQ has acquired quantum and computational chemistry startup Good Chemistry.
Although the two companies did not disclose the financial terms, the Wall Street Journal reported that the deal is worth $75 million and comprises of cash and stock.
AI and quantum firm Sandbox AQ was spun out of Alphabet in 2022 while Good Chemistry was spun out of quantum computing company 1QBit in 2021.
Headquartered in Vancouver, Good Chemistry uses quantum chemistry simulation to accelerate the design process for drug discovery and material science.
As part of the acquisition, SandboxAQ will integrate Good Chemistry’s QEMIST Cloud and Tangelo technologies into its existing software solutions ecosystem. In addition, Good Chemistry’s founder and CEO Arman Zaribafiyan will become head of product for simulation platforms at SandboxAQ.
“Arman shares our belief that AI and quantum technologies can solve some of our greatest challenges by unlocking the world of atoms through computational and quantum chemistry,” SandboxAQ said in a statement.
“We know Arman’s contributions, as well as those of Good Chemistry’s computational and quantum chemists, software developers, machine-learning engineers, and quantum computing scientists, will be invaluable in achieving our mission.“
Commenting on the acquisition on LinkedIn, Zaribafiyan said that the deal represents a major milestone for both him and the Good Chemistry team.
“The combined leadership, talent, and expertise of Good Chemistry and SandboxAQ accelerates our product development, expands the reach of our products and superchargers our ability to leverage the full potential of AI and advanced computing technologies in accelerating materials design and drug discovery,” he wrote. “Can’t wait to start the next chapter of Good Chemistry at SandboxAQ.”
