Healx secures new investment in latest funding round
Significant technological developments have altered many aspects of our lives, and this now includes treating rare diseases too. One leading startup using patient-inspired technology, Healx, has recently announced a huge series B funding round investment, approximately 50.5 million euros, which will be used to help accelerate significant growth for the biotech firm.
Who is Healx?
The firm, based in Cambridge, was founded in 2014 by Dr. David Brown and Dr. Tim Guilliams. the startups specialises in proving treatments for rare diseases through using Artificial Intelligence in order to do so.
The firm’s overarching mission is to provide over 100 rare disease treatments in clinics across the country by 2025. It aims to do this through its AI platform named Healnut, which provides data-driven treatment predictions that help to reduce the discover-to-clinic time to less than 24 months. By using ai and combing knowledge and expertise, new treatments can be made available to clinics within 2 years.
It is considered to be the world’s leading AI platform working on rare diseases.
Latest funding round investment
The startup recently announced it had managed to raise nearly €50.5 million in its latest Series B funding round. This follows a successful Series A funding round earlier in 2018, where Healx gained nearly €9.5 million in funding.
The Series B funding round this time was led by one of the biggest VC firms in Europe Atomico. There were others who also participated in this round, such as btov Partners, Intel Capital and existing investors such as Jonathan Milner, Amadeus Capital Partners, and Balderton Capital.
How will Healx use this investment?
Following this significant amount of investment the startup has stated it will use this funding to help with the development of its own therapeutic pipeline, as well as to help with the launch of its global Rare Treatment Accelerator program.
