HomeUSANoetik Closes $40M Series A Financing

Noetik Closes $40M Series A Financing

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Noetik

Noetik, a San Francisco, CA-based AI-native biotech company leveraging self-supervised machine learning and high-throughput spatial data to develop next-generation cancer therapeutics, closed a $40m Series A financing round.

The round was led by Polaris Partners and managing partner Amy Schulman, who will join the board of directors, with participation from new investors Khosla Ventures, Wittington Ventures and Breakout Ventures. The round was supported by all existing investors DCVC, Zetta Venture Partners, Catalio Capital Management, 11.2 Capital, Epic Ventures, Intermountain Ventures and North South Ventures. The round also included AI funds ApSTAT Technologies, Linearis Labs and Ventures Fund, supported by AI expert Yoshua Bengio and metabolomic expert David Wishart, Element AI co-founder Jean-Francois Gagne, and current and former Recursion executives.

The company intends to use the funds to expand its spatial omics-based atlas of human cancer biology together with its high throughput in vivo CRISPR Perturb-Map platform, aand to scale training of its multi-modal cancer foundation models such as OCTO.

Led by Ron Alfa, M.D., Ph.D., CEO & Co-Founder, Noetik was founded to solve critically important challenges in bringing effective new therapeutics to patients: improving target discovery and biomarker development to increase the probability of clinical success. To address these, the company has built a discovery and development platform that pairs human multimodal spatial omics data purpose-built for machine learning with a massively multiplexed in vivo CRISPR perturbation platform (Perturb-Map). Together these data are used to train self-supervised foundation models of tissue and tumor biology that power the company’s discovery efforts.

The company aims to establish strategic partnerships and collaborations with leading academic institutions, health care providers, and pharmaceutical companies. Noetik recently appointed Shafique Virani, M.D. as the company’s Chief Business Officer to spearhead these partnering efforts.

FinSMEs

29/08/2024

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