twoXAR, Inc., an artificial intelligence (AI)-driven biopharmaceutical company, announced today that it has raised $10 million in Series A financing led by SoftBank Ventures including follow-on participation from seed investor Andreessen Horowitz. The biotech startup plans to use the funding to build the company’s drug pipeline through partnerships and accelerate preclinical development of existing candidates. Traditional drug discovery and development is estimated to take 10-15 years and
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Biotech
Atomwise Raises $45M for Artificial Intelligence Platform for Drug Discovery
Atomwise, a San Francisco, CA-based company that develops artificial intelligence systems for drug discovery has raised $45 million in Series A funding led by Monsanto Growth Ventures, B Capital Group and Data Collective. Prior investors Y Combinator, Khosla Ventures, and DFJ also participated in this Series A financing, along with new investors Baidu Ventures, Tencent, and Dolby Family Ventures. The oversubscribed round brings Atomwise’s total capital raised to more than $51 million.Founded in
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SkylineDx Inks Partnership With Mayo Clinic to Develop Diagnostic Tests for Melanoma
SkylineDx, a Netherland-based commercial-stage biotech company has inked a joint development agreement with with Mayo Clinic to develop novel diagnostic tests which will improve clinical decision making for melanoma patients. For SkylineDx, the collaboration with the renowned Mayo Clinic is an important milestone as it allows the company to develop new diagnostic tests and extend its product offering for a broader group of patients and clinicians.The knowledge and experience of SkylineDx in the
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Biotech Startup Akouos Lands $7.5M To Restore & Preserve Hearing
Akouos, a Boston, MA-based new biotechnology startup focused on restoring and preserving hearing has raised $7.5 million in seed funding led by 5AM Ventures and New Enterprise Associates (NEA), with participation from Partners Innovation Fund. Spun out of Harvard Innovation Labs in 2017, Akouos is developing novel therapies and delivery systems to prevent hearing loss and restore hearing in genetically defined patient populations.In addition to the seed round of funding, Akouos has entered into
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Pfizer Spin Off Lands $103M to Develop New Drugs for Undeserved Patient Populations
SpringWorks Therapeutics, a new Pfizer spin-off launched as a way to advance investigational drug therapies that may hold significant promise for underserved patients has raised $103 million in funding in Series A funding. The Series A round was led by Bain Capital Life Sciences, Bain Capital Double Impact, OrbiMed, Pfizer and LifeArc (formerly known as MRC Technology). SpringWorks Therapeutics’ collaborative business model is designed to deliver both social and financial returns via
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Nightingale Health Obtains CE Mark for Blood Analysis Platform
Finnish biomedical startup Nightingale Health has obtained CE marking for its blood biomarker analysis platform. The CE mark enables the clinical use of the analysis service and the analysed measures of creatinine and glucose in the EU region.Nightingale Health's blood biomarker analysis platform is based on NMR (Nuclear Magnetic Resonance) spectroscopy. It captures over 228 metabolic biomarkers from a single blood sample, transforming the possibility to understand molecular mechanisms and
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Biotech Startup Lantern Pharma Raises $3.7M to Accelerate Cancer Drug Approval Process
Clinical-stage biotech company Lantern Pharma Inc. has raised $3.7 million in Series A funding led by BIOS Partners, GPG Ventures and other private investors. Using big data and artificial intelligence, Lantern Pharma focused exclusively on accelerating the cancer drug approval process.The startup plans to utilize the funding to continue development of its two lead drug candidates and further the advancement of its big data and Artificial Intelligence (AI) platform. Lantern’s strategy focuses on
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This Biotech Startup Hopes to Cure Cancer with Artificial Intelligence
Imagine devoting fifteen years to an important pursuit and pouring unbelievable amounts of money into it, all the while facing a failure rate of 95 percent. That’s the disheartening reality for pharmaceutical companies, which throw billions of dollars every year toward drugs that likely will not work – and then go back to the drawing board and do it all over again. There has to be a better way.
That’s where Berg comes in. Backed by billionaire real estate magnate Carl Berg, the promising
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