IMIDomics, IgGenix and neuro42 Close Series A Rounds Worth Millions
Three companies, including two biotech companies and one drug discovery company, announced yesterday the successful closing of Series A financing, with IMIDomics taking the lead. The company, which focuses on immune-mediated inflammatory diseases, announced Tuesday it completed a $16.5 million Series A financing round to advance its precision discovery platform.
IMIDomicsTM, founded in 2015, has developed its precision discovery platform that analyzes clinical comment epidemiologic and biomolecular data to gain novel insights regarding immune-mediated inflammatory diseases. Some of the diseases the company has set its sights on include lupus, Crohn’s disease, rheumatoid arthritis and ulcerative colitis. IMIDomics Has a dedicated patient biobank to gain further understanding of these conditions.
DNS Capital led the Series A financing ground for IMIDomics, with participation from Bristol Myers Squibb, The Pritzker Organization and Tao Capital Partners, among others. “We believe the IMIDomics platform is uniquely positioned to generate new and important insights that aid in the development of therapeutics to treat IMIDs,” said Michael Pucker, chairman and chief executive officer of DNS Capital, in a statement.
Juan Harrison, the CEO and president of IMIDomics, said the new funding will help the company “fuel our precision discovery efforts and accelerate technologies that are critical to the further development of new IMID treatments, while expanding our teams in the US and Europe.”
San Francisco-based biotech company IgGenix also recently closed a Series A1 financing round worth $25 million. The company, which focuses on addressing allergic diseases, plans to use the funding to grow its discovery platform in both food and non-food allergies and accelerate its lead program into preclinical development. Jessica Grossman, M.D., CEO of IgGenix, said, “With this funding, we look forward to continuing an exciting period of discovery while building partnerships to fuel our next phase of development.”
IgGenix has developed a proprietary platform that applies deep sequencing to immune cells of patients who have allergies. The platform reportedly has the ability to re-engineer fully human antibodies into tailored therapies for these individuals.
Khosla Ventures was involved in the company’s Series A funding last year and also co-led this Series A1 round with leading biotech investor Mattias Westman. New investors who joined IgGenix’s Series A1 financing round included Alexandria Venture Investments, ShangBay Capital and AllerFund.
A medical technology company specializing in magnetic resonance imaging and robotics also recently closed a Series A financing round to a tune of $6.5 million. According to the company, neuro42, the new financing will advance its MRI and robotics technology to help physicians diagnose brain injury and better treat neurologic diseases intraoperatively using live imaging. So far, neuro42 has raised $7.8 million, which includes $1.3 million raised in an oversubscribed seed round.
Tuesday’s Series A financing round for neuro42 was led by Zepp Health in participation from ShangBay Capital and angel investors Krishna R. Bhupal and Philip Dolan.
“The investment will fast-track our progress in bringing our products to the masses and creating a meaningful impact for neuro physicians and neurosurgeons in treating their patients,” according to a statement made by neuro42’s founder and CEO, Dr. Amit Vohra. “We are thrilled by the support of our investors who see the disruptive potential of MRI guided interventions.”