Follow the Money: 3D Spatial Biology, AI-Powered Imaging Biomarkers, More

Abcuro has closed a $200 million Series C financing round. The company will use the money in part for a Phase II/III MUSCLE clinical trial for ulviprubart, an antibody against killer cell lectin-like receptor G1 (KLRG1), to treat a rare, chronic inflammatory muscle disease called inclusion body myositis. The company is planning to file a Biologics License Application (BLA), with some of the funds going toward a commercial launch.

$112M: Series C for Radionuclide Therapies 

AdvanCell announced the successful completion of an oversubscribed $112 million Series C financing. This investment will fuel AdvanCell’s ongoing efforts to expand its manufacturing capacity, accelerate the clinical development of its pipeline of radionuclide therapies, and advance its mission of delivering treatments to cancer patients worldwide.

$97M: Series B for Huntington’s Disease Clinical Trial 

Atalanta Therapeutics has completed a Series B financing round. The money will go toward Phase I clinical trials of the company’s RNAi therapies for a genetic form of childhood epilepsy and for Huntington’s disease. Each therapy targets and downregulates a gene involved in the progression of the target disease. The company’s other initial therapeutic areas include Parkinson’s and Alzheimer’s.

$93.5M: Series A for Treatment of Neuropsychiatric Disorders 

Newleos Therapeutics has closed an oversubscribed $93.5 million Series A financing. The funds will be used to develop first-in-class and best-in-class therapies to address the need for safer and more efficacious treatment options for major mental health conditions. Their lead clinical program, NTX-1955 (RO7308480), is a first-in-class GABAA-γ1 selective positive allosteric modulator (PAM) designed to treat anxiety disorders with a differentiated mechanism of action without the side effects of currently available treatments. It has completed a comprehensive non-clinical package and has been in Phase 1 trials, and Newleos plans to investigate further in proof-of-concept studies for the treatment of generalized anxiety disorder.

$90M: Series A for Next-Gen Bispecific Antibodies 

Bambusa has completed its oversubscribed Series A financing of approximately $90 million. The funding will support the advancement of Bambusa's lead programs through Phase I trials and drive further pipeline development. Two of Bambusa's four programs are on track to enter the clinic in Q1 2025 and mid-2025, respectively. BBT001, Bambusa's lead candidate, is a bispecific antibody incorporating a number of features intended to supplant the current standard of care for a range of dermatological conditions. BBT002 is a bispecific antibody created as a "platform in a molecule" with applications across respiratory, dermatology, and gastroenterology indications.

$80M: Series B for 3D Spatial Biology 

Stellaromics announced the completion of a Series B financing round of $80 million, which will support the development and commercialization of Pyxa, Stellaromics' 3D spatial biology platform. The Pyxa platform enables researchers to visualize and analyze the spatial organization of cells and molecules within thick tissue samples at an unprecedented resolution. Key features include thick tissue analysis, sub-cellular resolution, simplified workflow, and more.

$65M: Series A for First-in-Class GIP Antagonists for Obesity 

Helicore Biopharma emerged from stealth mode with $65 million in Series A financing. Helicore’s most advanced asset, HCR-188, is a clinical stage monoclonal antibody (mAb) designed to bind GIP. The company’s portfolio includes GIP antibody conjugates, including GLP-1 and other combinations, designed to address specific obesity subpopulations.

$50M: Seed Financing for AI-Powered Programmable Biology  

Latent Labs emerged from stealth with $50 million seed funding to accelerate their progress and partnerships. Latent Labs’ platform empowers researchers to computationally create new therapeutic molecules, such as antibodies or enzymes. The AI lab will help partners unlock previously challenging targets and open new paths to personalized medicines. The platform can be leveraged to design proteins with improved molecular features (such as increased affinity and stability), expediting drug development timelines and raising success rates.

$50M: Series A for Precision Medicine with AI-Powered Imaging Biomarkers 

Quibim has closed its $50 million Series A financing. With the financing, Quibim will establish a strong US presence through strategic collaborations with hospitals and pharmaceutical companies. By implementing its strategic plan and, through its suite of solutions already cleared by FDA, the company will support healthcare providers and clinical researchers to process an unprecedented amount of data from medical scans. Additionally, Quibim's AI-powered imaging solutions will empower pharmaceutical companies by enhancing clinical trials and accelerating drug development with precise, actionable insights derived from imaging biomarkers.

$40M: Series B for AI-Driven Dental Care Solutions 

VideaHealth has secured $40 million in an oversubscribed Series B funding round. AI technology is increasingly becoming more important to the dental market. With this funding, VideaHealth will work to empower clinicians to focus on delivering exceptional care and driving significant practice growth with AI. The company will continue to focus on its successful partnerships and broadening its product offerings across various segments, including AI-generated workflow tools and revenue cycle management in the dental industry.

$28.1M: Series B for Neurogenic Detrusor Overactivity in Spinal Cord Injury 

EG 427 has successfully closed a $28.1 million Series B financing round. The proceeds from the financing will be used to fund the phase 1b/2a development of EG 427’s lead genetic medicine product, EG110A, for the treatment of neurogenic detrusor overactivity (NDO) in spinal cord injury (SCI) patients. This US study could open the way for clinical development across a series of medically important but neglected neuro-urology pathologies affecting millions of patients. The financing will also support the expansion of EG 427’s pipeline with several therapeutic vectors based on its unique HERpes Modular Expression System (HERMES) technology.

$27M: Series B for Acute Myelogenous Leukemia Treatment 

Auron Therapeutics has made progress with its lead KAT2A/B program and clinical candidate, AUTX-703, and the completion of a $27 million Series B financing. AUTX-703 is a novel, first-in-class, oral KAT2A/B degrader discovered and developed by Auron using its AURIGIN Platform. Last December, AUTX-703 showed a significant survival advantage in acute myelogenous leukemia (AML). Proceeds will be used to advance AUTX-703 through a Phase 1 clinical proof-of-concept trial in AML, which will begin enrolling patients in the first quarter of this year. In addition, funds will be used to evaluate the therapeutic potential of targeting KAT2A/B in autoimmune disease and advance drug discovery efforts of novel EMT tumor targets identified using AURIGIN.

$25M: Series A for Semi-Permeable Capsule Tech for Single-Cell Analysis 

Atrandi Biosciences has raised $25 million in a Series A funding round. Atrandi, which means “you discover” in Lithuanian, was launched in 2016 to address technological challenges associated with single-cell analysis. Atrandi will use some of the funds from its Series A to extend its offerings for DNA analysis from single cells. The company already has a solution for microbial cells and expects to launch an option that works for eukaryotic cells later this year. They will be able to support whole genome analysis as well as more targeted analysis of single cells. Next year, Atrandi will focus on developing products for multi-omic analysis, specifically DNA and RNA analysis from single cells.

$24.6M: Seed Financing for AI Drug Discovery Startups 

Manas AI has raised $24.6 million in seed funding. The company will initially focus on breast cancer, prostate cancer, and lymphoma. Manas AI claims it will design molecules with AI, then test them in a wet lab, using Microsoft’s cloud computing platform, Azure, and Microsoft’s “deep domain knowledge in AI” to develop novel medicines.

$17M: Seed Financing for Non-Invasive Brain Connectivity 

Subsense emerged from stealth with a seed financing of $17 million to formally reveal its efforts in the emerging field of non-invasive brain connectivity. The funds will be used to accelerate the development of bidirectional nanoparticle-based technologies that connect the human brain with external sources. The company is also targeting more expansive applications for later stages such as: sensorimotor recovery of vision, hearing and movement; inner speech decoding and thought translation; integration with AI by merging brain and artificial neural networks; mental health regulation; and more.

$14.6M: Series A for Breast Reconstruction Following Lumpectomy 

Tensive has closed a $14.6 million Series A financing. The Series A funds will enable the company to complete a pivotal clinical trial evaluating the safety and performance of the company’s lead product, REGENERA, in patients undergoing reconstructive surgery after lumpectomy for malignant breast lesions.

$14.1M: Series B for Adaptive DBS Platform 

Newronika has closed a $14.1 million Series B funding round. The funds will help Newronika to expand the clinical validation and commercialization of its proprietary adaptive DBS system, its platform designed to deliver precision therapy aimed to improve symptom relief and reduce side effects for Parkinson’s disease patients. The funds will also facilitate the advancement of product pipelines, recruiting top-tier talent, and establishing strategic collaborations that further strengthen the company’s position at the intersection of medical device engineering and neuroscience.

$10M: Seed Financing for Cell Reset Therapeutics 

Junevity announced $10 million in seed funding. The Junevity RESET platform is based on exclusively licensed research by co-founder Dr. Janine Sengstack at the University of California at San Francisco. RESET uses large-scale human data and AI to identify genes—or transcription factors—that can regulate cell damage. Then, it develops siRNA therapeutics against these targets to return cells to health. Junevity will use this seed funding to enhance the RESET platform and develop its first therapeutic candidates in Type 2 diabetes, obesity, and frailty.

$9M: Seed Financing for Vaccine Development with Better RNA 

Terrain Bio launched from stealth with a $9 million seed financing. The funds will be used to bring research in RNA design and manufacturing to innovators building RNA-based therapies and vaccines, and support development of personalized cancer vaccines. RNA-based modalities, including mRNA, cell & gene therapies, and emerging personalized cancer vaccines are promising and rapidly advancing, with hundreds of drug candidates in development for indications ranging from oncology to infectious disease to neurodegenerative illnesses.

$8.2M: Seed Financing for Pioneer RNA-Guided Programmable Cell Depletion 

Akribion Therapeutics has exited from stealth with a seed financing round of $8.2 million. Akribion is developing a unique, RNA-guided, nuclease-based technology for programmable cell depletion. Armed with a G-dase E payload, it has the ability to kill cells by shredding DNA and RNA, but only if there is a highly specific match between the guide RNA and an intracellular RNA sequence. This ensures that only the targeted cells are affected, leaving healthy cells unharmed. The current financing round is expected to deliver in vivo Proof of Concept of Akribion's technology.

$5.5M: Seed Financing for Small Molecule Drug Discovery 

Variational AI, the company behind Enki, an advanced foundation model for small molecule drug discovery, announced the completion of its oversubscribed $5.5 million seed extension round. Enki empowers biopharmaceutical chemistry teams to efficiently discover and optimize novel hits and leads, accelerating early-stage drug discovery. With this new funding, Variational AI aims to bring its technology to a broader market, helping biopharmaceutical companies design novel drugs faster and more efficiently.