Israeli-US biotech company today announced the completion of a $215 million Series B financing round led by Koch Disruptive Technologies, with participation from Talos VC, 8VC, Alexandria Venture Investments, Piedmont, ICON, and more, including previous investors. This brings the total amount raised by the company to $295 million. The financing round was completed at a company valuation of over $1 billion, sources said.
The new funds will be used to expand Immunai’s "drug actuary" platform for target validation and evaluation.
Immunai has formed more than 25 academic partnerships to build AMICA, the Annotated Multiomic Immune Cell Atlas, the world’s largest data atlas of clinically-annotated single-cell immune data. This atlas, combined with Immunai’s team of immunologists and computational biologists, provides unique insights into underlying biology that drives disease etiology, allowing the company and its partners to discover novel targets as well as analyze and develop existing pipeline compounds.
The company was founded by CEO Dr. Noam Solomon and CTO Dr. Luis Voloch and has offices in New York City, Tel Aviv, Zurich, Prague, and San Francisco. Immunai has tripled in size in the last year, with more than 120 employees (70 of whom are PhDs or MDs). The company has more than 30 partnerships with Fortune 100 pharmaceutical companies and leading academic institutions, including Harvard, Stanford, Memorial Sloan Kettering, and Baylor College of Medicine.
Dr. Solomon said, "We have made great progress towards our core mission of understanding the immune system, which we believe is essential to finding the answers to human health and disease. Unlocking the immune system will accelerate the evaluation and development of novel immune medicines. Our approach is to combine best-in-class single-cell genomic methods and artificial intelligence with a deep understanding of immunology."
Dr. Voloch added, "We’re starting to see the payoff from building our platform and the AMICA database. The ability of our platform to surface and evaluate new drug targets has given us the confidence to push into therapeutic development with our partners. We’re grateful for both the capital and expertise we’re receiving in the round, and will use both to develop our platform and help advance targets towards the clinic."
Published by Globes, Israel business news - en.globes.co.il - on October 27, 2021.
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