Healx, a Cambridge, U.K.-based startup using AI to help discover new treatments for rare diseases, has raised $56 million in Series B funding.
Leading the round is London-base VC firm Atomico, with participation by Intel Capital, Global Brain and btov Partners. All previous investors, including Balderton Capital, Amadeus Capital Partners, and Jonathan Milner have also followed on.
Healx says the new financing will be used to develop the company’s “therapeutic pipeline” and to launch its global Rare Treatment Accelerator programme, which will partner with patient groups in an attempt to make rare desease drug discovery much more efficient.
More broadly, the aim is to discover new treatments and move them towards clinic “within 24 months,” which is significantly faster than the status quo. Meanwhile, many