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Cambridge biotech Generate Biomedicines said Thursday it has raised $370 million in venture capital from investors keen on its plan to use machine learning in drug discovery, money that will enable the startup to expand its workforce more than sixfold.

Generate, which was founded in 2018 by venture capital firm Flagship Pioneering, has about 80 employees at 26 Landsdowne St. and expects to hire some 420 more in the next two years, according to top executives. The company plans to move soon to two new buildings, totaling 140,000 square feet, in Andover and Somerville.

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