Insitro
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Yesterday marked the close of three new financing rounds in the biotech space. Although none of today’s are that large, there is still plenty of money on the move. Here’s a look.
Several biotech companies have announced closings of million-dollar financing rounds Monday, with Cambridge, Mass.-based cell and gene therapy company ElevateBio leading the pack. ElevateBio announced it raised $525 million in a Series C financing round, which the company says should help expand its drug programs as well as manufacturing capacity and current and future partnerships.
Through this collaboration, Insitro will utilize its proprietary platform, Insitro Human (ISH), to create induced pluripotent stem cell (iPSC) derived disease models for both diseases.
Bay Area-based insitro snapped up neighboring Haystack Sciences to bolster its machine-learning drug discovery programs with that company’s higher resolution dataset-producing technology.
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