Healx Secures $47 Million in Series C Funding to Advance Rare Disease Treatments
Healx, a clinical-stage biotechnology company specializing in rare diseases, has successfully raised $47 million in a Series C funding round. The R42 Group, based in Silicon Valley, and Atomico, a European venture capital firm, co-led the financing. Additional participants included Balderton, Jonathan Milner, Global Brain, Btov, Ayana Capital, o2h, and VU Venture Partners. The funds will be utilized to advance Healx’s pipeline of treatments for rare oncology, renal, and neurodevelopmental disorders, with a focus on progressing its leading candidate, HLX-1502, through a Phase 2 clinical trial for neurofibromatosis Type 1 (NF1).
Ronjon Nag, Ph.D., founder of R42 Group and 2024 Silicon Valley Hall of Fame AI inductee, has joined Healx's board. His expertise is expected to provide significant strategic guidance as the company moves forward with its clinical programs.
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HLX-1502, Healx’s leading investigational drug, targets NF1, a rare genetic disorder associated with the development of multiple benign and malignant tumors. With FDA clearance to proceed to a Phase 2 clinical trial, HLX-1502 aims to treat patients with inoperable plexiform neurofibroma, a condition with limited treatment options. The trial will also explore its effectiveness against cutaneous neurofibromas, which currently have no FDA-approved treatments.
Innovative AI-Driven Drug Discovery
Healx’s drug discovery efforts are powered by Healnet, an AI-driven platform that identifies therapeutic opportunities for rare diseases. Healnet uses generative AI to discover connections between biological and chemical entities, potentially leading to new treatments. The platform integrates disease multi-omics signature reversal and AI to identify novel therapeutic hits, enhancing the identification and development of second-generation compounds.
In addition to HLX-1502, Healx is advancing several other compounds identified through its AI platform. These compounds target rare diseases with significant unmet needs, including nerve-related tumor disorders, autosomal dominant polycystic kidney disease, and neurodevelopmental disorders such as Angelman syndrome. Healx’s innovative approach leverages AI to accelerate the drug discovery process, aiming to bring new treatments to patients faster.
Healx has received Orphan Drug and Rare Pediatric Disease designations from the FDA for HLX-1502, highlighting its potential to improve the lives of NF1 patients. The company also maintains a long-term research partnership with the Children’s Tumor Foundation (CTF), which includes milestone-driven payments to support the advancement of Healx’s NF programs.
Healx, co-founded by David Brown, Ph.D., and Tim Guilliams, Ph.D., is dedicated to developing effective treatments for rare disease patients. With over 10,000 known rare diseases affecting 400 million people globally, but only 5% having approved treatments, Healx’s mission is to combine generative AI technology with deep drug discovery expertise to address this critical need. The company's efforts are driven by the belief that every rare disease patient deserves treatment.
Topics: Startups & Deals
