Healx Secures $47M in Series C Funding to Advance AI-Enabled Drug Discovery for Rare Diseases
Healx stands at the forefront of redefining drug discovery for rare diseases through advanced AI technologies and robust clinical expertise.
Company Name: Healx
Location: Cambridge, UK
Sector: Biotechnology, AI, Clinical Research
Funding Details: Raised $47 million in Series C funding. The round was co-led by R42 Group and Atomico, with additional participation from Balderton, Jonathan Milner, Global Brain, btov, Ayana Capital, o2h, and VU Venture Partners.
Purpose of Investment: The funding will be used to advance Healx's drug discovery pipeline for rare oncology, renal, and neurodevelopmental disorders. This includes pushing its lead program HLX-1502 through a Phase 2 clinical trial for treating neurofibromatosis Type 1 (NF1).
Leadership: Co-founded by Chairman David Brown, Ph.D., a Viagra co-inventor, and CEO Tim Guilliams, Ph.D. Ronjon Nag, Ph.D., a Stanford Medicine Adjunct Professor and founder of R42 Group, has joined the board.
Product and Innovation: Healx is a clinical-stage biotech company that integrates generative AI technology with deep drug discovery expertise to accelerate the development of treatments for rare diseases globally. Its AI-driven platform, Healnet, identifies promising therapeutic opportunities by analyzing connections between biological and chemical entities.
Recent Achievements:
- Received FDA clearance to proceed with the Phase 2 clinical trial of HLX-1502.
- HLX-1502 has been granted Orphan Drug and Rare Pediatric Disease designations by the FDA, underscoring its potential as a significant treatment for NF1.
About the Company: Healx stands at the forefront of redefining drug discovery for rare diseases through advanced AI technologies and robust clinical expertise. With a commitment to delivering impactful patient outcomes, Healx aims to bring novel treatments to market faster and more efficiently. The company’s approach not only accelerates development timelines but also improves the likelihood of success in the complex landscape of rare disease treatment.