Healx raises $56M Series B to use AI to find rare disease treatments
We are very excited to back Healx in their USD 56m Series B round alongside Atomico, Intel Capital, Global Brain Corporation and existing investors such as Balderton Capital and Amadeus Capital Partners.
Combining artificial intelligence and deep pharmacology expertise, the patient-inspired biotech identifies existing drugs which can be repurposed to treat rare diseases, at a fraction of the time and cost of conventional drug discovery. While the expensive traditional pharma model fails most people affected by rare diseases, leaving some 95% of the c. 400 million patients worldwide without any approved treatment, Healx works closely with patient groups to advance 100 rare disease treatments towards the clinic by 2025.
To learn more about Healx’ roots and mission, check out this video.
To read more about the current funding round and the company’s plans going forward, visit TechCrunch here.