Key points from article :
Healx, a UK-based AI-driven drug discovery company, has raised $47 million in Series C funding to advance its mission of finding treatments for rare diseases. The funding round was co-led by R42 Group and Atomico, with participation from Balderton, Jonathan Milner, Global Brain, btov, Ayana Capital, o2h, and VU Venture Partners. As part of the investment, Ronjon Nag, founder of R42 Group and a Silicon Valley Hall of Fame AI inductee, will join Healx’s board.
The company plans to use the funds to progress its drug pipeline, including its lead candidate, HLX-1502, which has been cleared by the FDA for a Phase II trial in patients with neurofibromatosis type 1 (NF1). NF1 is a rare genetic disorder associated with tumour growth, and current treatments have significant side effects. Healx’s AI platform, HealNet, identifies promising drug candidates by analysing complex disease patterns and biological data. The company believes its small-molecule drug, designed to target mitochondrial function and oxidative stress, could offer a safer and more effective alternative to existing therapies.
Healx’s approach leverages AI and machine learning to accelerate drug discovery for rare diseases, which remain largely untreated. The company also collaborates with the Children’s Tumor Foundation (CTF), which has provided funding to support the development of HLX-1502. Healx aims to begin patient dosing in late 2024 and complete the trial by 2026, with hopes of delivering a breakthrough treatment for NF1 and expanding its AI-driven discovery model to other rare conditions.
