Noetik announced the successful completion of a $40 million Series A funding round, which was oversubscribed. This AI-focused biotech company specializes in leveraging self-supervised machine learning and high-throughput spatial data to develop next-generation cancer treatment solutions. The funding was led by Polaris Partners, and Amy Schulman, Managing Partner at Polaris, will join the company's board of directors.
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This round of financing attracted several new investors, including Khosla Ventures, Wittington Ventures, and Breakout Ventures. Existing investors such as DCVC, Zetta Venture Partners, Catalio Capital Management, 11.2Capital, Epic Ventures, Intermountain Ventures, and North South Ventures also fully supported this financing. Additionally, experts and companies in the AI field participated in the investment, including ApSTAT Technologies, Linearis Labs, and the Ventures Fund supported by renowned AI expert Yoshua Bengio and metabolomics expert David Wishart.
The funds will be used to expand Noetik's human cancer biology atlas based on spatial genomics, which is already one of the largest in the world. Additionally, the company will use the investment to enhance its high-throughput in vivo CRISPR Perturb-Map platform. The capabilities of these platforms will drive Noetik's development of innovative cancer treatment candidates in clinical settings.
Ron Alfa, CEO and co-founder of Noetik, said: "We are thrilled to receive support from such outstanding investors who share our vision of combining deep patient data with artificial intelligence to build future cancer treatments. This significant financing will help us accelerate the transformation of biological insights into a series of therapeutic candidates."
Noetik was founded with the goal of addressing key challenges in bringing effective new therapies to patients, such as enhancing target discovery and biomarker development capabilities to increase the likelihood of clinical success. The company has established a discovery and development platform that combines human multimodal spatial genomics data designed for machine learning with a highly multiplexed in vivo CRISPR interference platform (Perturb-Map) to provide data support for training self-supervised foundational models in tumor biology.
To advance strategic collaborations with leading academic institutions, healthcare providers, and pharmaceutical companies, Noetik recently appointed Dr. Shafique Virani as Chief Commercial Officer to oversee this effort.
James Hardiman, General Partner at DCVC, said: "We are delighted to continue supporting Noetik. The team has built an extremely complex AI-driven tumor discovery engine in less than two years, and their execution speed is impressive. Their wealth of experience and visible progress give us confidence in the future."
Noetik is committed to advancing precision oncology and improving the prognosis for cancer patients worldwide. This Series A financing marks an important step in the company's development of AI-driven cancer therapies, further solidifying its position as a leader in the field.
Key Points:
🌟 AI biotech company Noetik has completed a $40 million Series A financing round, with investors including Polaris Partners and other well-known venture capital firms.
🚀 The financing will be used to expand its cancer biology atlas and high-throughput CRISPR platform, driving new treatment solutions.
🤝 The company is dedicated to establishing partnerships with the academic and pharmaceutical sectors to advance precision oncology.