Viagra inventor raises funds to test AI-generated treatments
INTERNATIONAL – Healx Ltd., a British firm using artificial intelligence to quickly identify and develop treatments for rare diseases, raised $56 million to support its clinical trials and drug development.
The company will use the funds to test therapies for fragile X syndrome, a leading cause of autism that has no approved treatments, and build its portfolio of medicines, according to a statement. Venture capital firm Atomico led the round, while existing investors including Balderton Capital and Amadeus Capital Partners also participated.
Healx is planning another fund-raising round in the next 18 to 24 months, and then will consider an initial public offering, David Brown, co-founder and chairman, said in an interview. Healx officials declined to comment on the firm’s valuation.
Source: iol.co.za
