Marc Tessier-Lavigne, ex-Stanford University President, is named CEO of AI biotech firm Xaira Therapeutics.

Xaira, headquartered in San Francisco with over $1 billion in funding, aims to innovate in drug discovery using AI.

The company's funding sources include prominent investors like ARCH Venture Partners and Sequoia Capital.

Xaira's R&D platform will target challenging drug discovery areas and develop a diverse drug candidate pipeline.

Funds will enhance AI research from the University of Washington, specifically protein and antibody design models.

The team comprises experts like David Baker and executives from the biotech field, with influential board members.