Healx, an AI-enabled, clinical-stage biotech company specializing in rare diseases based in Cambridge UK, has raised $47 million in a Series C funding.

The funding was co-led by Silicon Valley-based R42 Group and Atomico, one of Europe’s largest venture capital firms, with participation from new and existing investors including Balderton, Jonathan Milner, Global Brain, btov, Ayana Capital, o2h and VU Venture Partners. Proceeds of the financing will be used to advance the company’s pipeline of medicines in rare oncology, renal and neurodevelopmental disorders.

Healx pioneers the next generation of drug discovery in order to bring novel, effective treatments to rare disease patients around the world. By combining generative AI technology with deep drug discovery and development expertise, Healx is aiming to accelerate the pace, increase the scale and improve the chance of success of rare disease treatment development in order to deliver global patient impact.

Corporate partner Ross McNaughton commented: "We are thrilled to see Healx meet this excellent milestone. The use of AI to leverage efficiencies in the drug development process has been a well-documented trend within the life sciences sector in the past few years, and Healx has been able to both develop an AI-driven discovery platform for rare diseases and a compound for NF1-associated plexiform neurofibroma that now has approval to enter into phase 2 trials. We are excited to be part of this journey and look forward to seeing Healx's next chapter of growth." 

Our team leading the financing round was Ross McNaughton and Oli Denne, with assistance from Colin McCall on IP commercialisation input.