Valo Raises $190 Million in Series B Financing and Unveils Select Therapeutic Programs
BOSTON, Jan. 11, 2021 /PRNewswire/ -- Valo Health LLC (Valo), the technology company working to transform the drug discovery and development process and accelerate the creation of life-changing drugs, closed a $190 million Series B financing and unveiled select therapeutic programs. Valo will further discuss these programs at the 39th Annual J.P. Morgan Healthcare Conference on January 12, 2021, at 4:20 PM EST (link below).
Valo is creating a new systemic approach for drug discovery and development. By combining its unique human-centric dataset (over 125-million patient-years) with its Opal Computational PlatformTM Valo is bringing the power of patient data and machine learning compute across the entire drug development lifecycle. The result of this systemic approach has been the rapid development of several key preclinical programs that have made significant progress on notoriously intractable to target therapeutic profiles, a few initial examples from Valo's oncology portfolio include:
"We have made tremendous progress in creating a fully integrated platform to accelerate the drug discovery and development process, making it far more efficient and less costly to provide life-saving treatments to patients," said Valo Founder & CEO, David Berry. "In less than two years, we have been able to build out our Opal computational platform and make significant progress on a number of programs, driving towards our ultimate goal of helping patients suffering from major diseases within our three therapeutic areas of focus, cancer, cardiovascular disease, and neurodegenerative disease. We are pleased to share some of the progress we have made in our path to new cancer therapeutics with the combined power of Opal, massive data, and a world-class team of experts."
Valo raised $190M in preferred equity capital through a Series B financing, bringing its total capital raised to over $285M. The financing was led by The Public Sector Pension Investment Board (PSP Investments). Joining the Series B financing are all of Valo's existing major investors including Flagship Pioneering and several new institutional investors including Invus Public Equities, HBM Healthcare Investments, Atinum Investment, and Mirae Asset Capital. The proceeds from the Series B will support the continued discovery and development of therapeutic programs and will further build-out of the Company's proprietary Opal Computational Platform, working capital, and other general purposes.
"We are entering a period of monumental growth and evolution in the biotech industry," said Eduard van Gelderen, Senior Vice President and Chief Investment Officer, PSP Investments. "PSP is keen to invest in innovative, cutting-edge technology that can improve people's lives. We are proud to support the extraordinary work that Valo is doing to identify ways to accelerate the creation of therapeutics for some of the world's most complex diseases."
Valo's Opal Computational PlatformTM is the first-of-its-kind, end-to-end drug development platform that fully integrates human-centric data and artificial intelligence/machine learning, to accelerate the drug discovery and development process. Using Opal, Valo scientists have been able to identify previously unsuspected associations between genetic markers and disease, which identify the specific changes in gene activity with an initial focus on oncology, neurodegenerative, and cardiovascular diseases.
The live audio (non-video) direct link for David Berry's virtual session at the J.P. Morgan Healthcare Conference on January 12, 2021, at 4:20 can be accessed using the following: https://jpmorgan.metameetings.net/events/healthcare21/sessions/35837-valo-health/webcast?gpu_only=true&kiosk=true
And following the conference on Valo's LinkedIn page
View original content to download multimedia:http://www.prnewswire.com/news-releases/valo-raises-190-million-in-series-b-financing-and-unveils-select-therapeutic-programs-301204965.html
SOURCE Valo Health, LLC