Seeking to blend AI and human data, Valo Health secures new funding to test oncology drug discovery platform, beyond – Endpoints News
Companies looking to integrate machine learning into drug discovery are a dime a dozen, but Boston-based Valo Health believes its proprietary platform could give it a head start in identifying candidates for a range of drugs. therapeutic areas. Now the investors are putting in a big down payment to see if Valo is right.
Valo Health, which aims to merge AI and human data to formulate treatments for cancer and beyond, has closed a $ 190 million Series B funding round. Valo said the funding would accelerate several new treatment programs using the company’s new drug development platform.
Valo entered on technology – dubbed the Opal Computing Platform – that integrates human data, artificial intelligence and machine learning to accelerate the process of drug discovery and development. This allowed the company to identify previously unsuspected associations between genetic markers and disease, and to identify specific changes in gene activity.
Until now, Valo has focused on oncological, neurodegenerative and cardiovascular diseases, initially focusing on oncology, neurodegenerative and cardiovascular diseases. In a statement, Valo highlighted four cancer genes the company hopes to target in its current portfolio: NAMPT, which is associated with solid tumors and hematologic cancers; PARP1, a key protein involved in DNA repair and programmed cell death; USP28, a gene linked to cancers induced by c-myc; and HDAC3.
The $ 190 million comes in the form of senior equity and brings Valo’s total raised to over $ 285 million. The funding was led by the Public Sector Pension Investment Board, Valo said in the statement. All of Valo’s existing major investors, including Flagship Pioneering, and several new investors, including Invus Public Equities, HBM Healthcare Investments, Atinum Investment and Mirae Asset Capital, join the funding round.
The B-Series product, Valo said, will support the continued discovery and development of therapeutic programs and further expand the Opal platform and working capital.