December 2, 2021 | Platforms for machine-learning generative biology and cloud R&D, drug delivery chip for therapies at the tumor site, and AI-driven drug discovery and robotics.
$650M: HHS Investment in Diagnostics Manufacturing
As part of the Biden-Harris Administration’s ongoing commitment to increasing access to COVID-19 testing for Americans and to further strengthen domestic manufacturing of needed tests, the U.S. Department of Health and Human Services (HHS) will invest $650 million from the American Rescue Plan to strengthen manufacturing capacity for quick, high-quality diagnostic testing through rapid point-of-care molecular tests and increase Americans’ access to them. As at-home testing increases, the need for follow-up testing in health care settings will likely grow. For example, if someone buys an over-the-counter rapid antigen test at their local pharmacy to take at home and tests positive, they may seek out a health care provider who would conduct another test to confirm that result. This new investment will help ensure tests like these are readily available across the country and can provide results quickly.
$370M: Series B for Machine Learning Biology Platform
Generate Biomedicines, whose machine learning-powered Generative Biology platform can rapidly invent new drugs across a wide range of protein modalities and previously undiscoverable protein therapeutics, has raised $370 Million in a Series B financing to advance the development of its novel drug generation platform. The Generate platform can rapidly generate antibodies, peptides, enzymes, cell and gene therapies to meet any therapeutic need. This approach enables Generate to create previously impossible therapeutics and to do so with unprecedented speed and scale. The financing round included the company’s founder, Flagship Pioneering, along with several institutional co-investors, including: a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the Alaska Permanent Fund, Altitude Life Science Ventures, ARCH Venture Partners, Fidelity Management & Research Company LLC, Morningside Ventures, and funds and accounts advised by T. Rowe Price Associates, Inc. New capital will enable the company to evolve its technology platform, rapidly scale the organization, and advance multiple programs toward IND
$156M: Series B for Engineered T-Regulatory Cell Therapies
Quell Therapeutics has raised $156 million in an oversubscribed Series B financing. The financing round was co-led by Jeito Capital, Ridgeback Capital Investments, SV Health Investors and Fidelity Management & Research Company LLC with participation from founding investor Syncona. New investors include British Patient Capital through its Future Fund: Breakthrough program, Janus Henderson Investors, Monashee Investment Management, Point72 and funds managed by Tekla Capital Management LLC. Proceeds from the financing will be used to fund the LIBERATE Phase 1/2 clinical trial of …….
Source: https://www.bio-itworld.com/news/2021/12/02/follow-the-money-cloud-r-d-generative-biology-robotics