AI Drug Developer TwoXAR Raises $10m In Series A
Californian biopharma, TwoXAR, which is using a computational platform to identify drug candidates, de-risks opportunities through preclinical studies, and progresses drug candidates into the clinic, has raised $10m through a series A financing round.
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The company isn't relaying any details about its drug targets, but will use the mega-round to take its first candidates into the clinic. Also, RiverVest raises a $184.4m VC fund, Annexon closes a $75m Series C, Takeda lists its stock in the US, and Aptorum goes public.
Proteostasis planned to raise cash this week, but scrapped the offering after an investor that shorted the stock published a scathing report. Also, Arena raised more than $350m in an offering after its positive Phase II etrasimod data, and venture capital flows to biopharma firms with big ideas.
TwoXAR Inc. wants to help the biopharma industry make good use of big data. The start-up hopes to change the way drug discovery works, with software that can analyze broad arrays of data – chemical compound libraries, gene expression data, protein interaction networks, protein binding databases, patient records and just about anything else related to drug development – and propose a "short list" of drug candidates with a high probability of making it to the clinic.