MultiOmic Health, a London, UK-based artificial intelligence (AI)-enabled drug discovery company, closed a £5 million seed funding extension round to build its precision therapeutics discovery platform for metabolic syndrome-related medical conditions.
The round was led by London-based Hoxton Ventures, with participation from Ada Ventures, MMC Ventures, and Verve Ventures. Since beginning operations in May 2021, MultiOmic has raised a total of US$8.6 million.
The proceeds of this financing round will be used to demonstrate proof-of-concept for MultiOmic’s MOHSAIC® platform in diabetic kidney disease.
“Existing treatments for metabolic syndrome-related conditions merely reduce risk or delay the onset of serious consequences such as heart attack, stroke, kidney failure, blindness, nerve damage, foot amputation, liver failure, and premature death,” said Robert Thong, MultiOmic’s Co-Founder and Chief Executive Officer. “Patients’ disease journeys exhibit immense heterogeneity, reflecting potentially hundreds of different disease variants that result not only from inherited genetics but also diet, lifestyle, and other environmental factors. Unlike cancer, however, there are no existing precision medicines to tackle the specific molecular-level drivers of each metabolic syndrome disease variant. “We will address this huge unmet medical need by systematically discovering, at scale, unique treatment concepts for these different disease variants. Our human-centric platform originates therapeutics from high-fidelity patient data, reversing the traditional drug discovery models that initiate treatments from test tubes and animal experiments. We are going from bedside to lab bench, rather than from lab bench to bedside!”
Company: Multiomic Health Limited
Raised: £5.0M
Round: Seed Round
Funding Month: May 2023
Lead Investors: Hoxton Ventures
Additional Investors: Ada Ventures, MMC Ventures, and Verve Ventures
Company Website: https://multiomic.health/
Software Category: AI-enabled Drug Discovery (AIDD)
About the Company: MultiOmic Health is an AI-enabled drug discovery (AIDD) start-up focused on metabolic syndrome-related diseases. It partners with carefully selected healthcare providers to source and analyze de-identified patient data and bio-samples. MultiOmic’s MOHSAIC® platform combines integrated multi-omics analysis and computational systems biology modeling with targeted wet laboratory experiments to originate novel precision therapeutic concepts that MultiOmic commercializes via partnerships with established biopharma companies.
Source: https://www.businesswire.com/news/home/20230503005060/en/MultiOmic-Health-Closes-6.2-Million-Funding-Round-to-Discover-Precision-Medicines-for-Metabolic-Syndrome-Related-Conditions