UK-based company Healx has raised $56m in a Series B funding round for the development of rare disease treatments identified using artificial intelligence (AI) technology called Healnet.

Venture capital firm Atomico led the financing round, with participation from Intel Capital, Global Brain, btov Partners, Balderton Capital, Amadeus Capital Partners and Jonathan Milner.

Healx will use the funds to build its pipeline, including therapies for fragile X syndrome, a leading genetic cause of autism that currently lacks approved medication.

Previously, the company partnered with Fragile X Research Foundation (FRAXA) to develop treatments for the disease. Healx and FRAXA plan to initiate clinical trials shortly to evaluate various combination therapies to treat the rare condition.

Additional clinical programmes for other diseases will be conducted next year, with a company aim to advance 100 rare disease therapies by 2025.

The company uses AI technology for quick, efficient and cost-effective drug discovery. Its Healnet AI platform offers data-driven therapeutic predictions to cut the discovery-to-clinic timeline to 24 months.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

To further utilise the approach, Healx has launched the Rare Treatment Accelerator programme to work with patient communities and identify clinic-ready therapies for rare diseases.

The programme will combine the partners’ technologies, insights and expertise to discover and move treatments towards the clinic in 24 months.

Healx co-founder and CEO Dr Tim Guilliams said:  “The size of this Series B financing, especially this quickly after our Series A round last year, is an endorsement of the value of our platform and the pace at which we have developed.

“It allows us to scale our impact with the launch of our Rare Treatment Accelerator programme and to progress into clinical trials. The trials for our fragile X treatments are just the start of the impact we believe our technology is capable of having on drug discovery.”

During the Series A funding round led by Balderton Capital last year, Healx raised $10m.

Earlier this month, the company partnered with the Institute of Cancer Research (ICR) to discover treatments for a rare childhood brain cancer called diffuse intrinsic pontine glioma (DIPG).