Healx Raises $56 Million in Bid to Find Treatments for Rare Diseases
October 16 2019 - 1:18PM
Dow Jones News
By Colin Kellaher
Healx, a U.K.-based startup using artificial intelligence to
develop treatments for rare diseases, on Wednesday said it raised
$56 million in a Series B financing round at an undisclosed
valuation.
Skype founder Niklas Zennstrom's venture-capital firm Atomico
led the round, which brought Healx's total funding to $70
million.
New investors Intel Capital, Global Brain and btov Partners also
participated, Healx said, as did all of its previous investors,
including Balderton Capital, Amadeus Capital Partners and Jonathan
Milner.
Healx said it will use the financing to build a clinical-stage
portfolio for rare diseases, including treatments for fragile X
syndrome, the leading genetic cause of autism.
The company also will use the funds to launch its global "Rare
Treatment Accelerator" program, which aims to work with patients
groups to discover new treatments and move them toward the clinic
within two years.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 16, 2019 13:03 ET (17:03 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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