25 techbio leaders that shaped the AI-biology convergence in 2024

While the term “biotechnology” was coined in 1919, “techbio” dates back roughly a century after that. Around 2019, the VC firm Artis Ventures set up a venture capital fund named Artis techbio with the aim of uniting software, computational biology, and drug development into a cohesive framework. The ambition behind this idea has sometimes surpassed financial realities, leading to a consolidation of the field in recent years. For instance, synthetic biology firm Zymergen (ZY) is no longer traded on the Nasdaq after Ginkgo Bioworks acquired the firm in July 2022. The trend of consolidation has continued this year with Recursion Pharmaceuticals’ $688 million purchase of Exscientia in August 2024.

But there is more to the story. Despite these headwinds, the techbio sector continues to attract significant investment and drive innovation. 2024 saw the launch of Xaira, a techbio with the financial backing of over $1 billion. At the helm of the firm is a team of industry veterans, including former Genentech CSO Marc Tessier-Lavigne. Xaira’s goal is to harness advanced AI, including foundational models like RFDiffusion and ProteinMPNN, to design novel therapeutic proteins and tackle previously undruggable targets. This notable launch, along with other major deals and the support of major firms ranging from NVIDIA to Novo Nordisk, illustrates the growing convergence of technology and biology.

The following snapshot of 25 techbio organizations paints a picture of a sector maturing through strategic consolidation, significant capital deployment, technical diversification, and steady clinical validation.

New entrants and major deals

1. Xaira

• Launch funding: $1B+ (April 2024)
• Technology focus: Foundational models like RFDiffusion and ProteinMPNN for novel therapeutic proteins
• Differentiator: Integrated approach combining computational design with high-throughput validation
• Leadership: CEO: Marc Tessier-Lavigne (former Genentech CSO); Board includes Scott Gottlieb, Carolyn Bertozzi, Alex Gorsky

Details: While specifics of Xaira’s AI strategy are under wraps, a GeekWire article provided a glimpse at what the company is up to. Under the leadership of former Facebook AI scientist Hetu Kamisetty, Xaira’s Seattle team is using foundational models like RFDiffusion and ProteinMPNN — originally developed at the University of Washington’s Institute for Protein Design (IPD) — to engineer novel therapeutic proteins that could potentially address previously “undruggable” disease targets. The company’s integrated approach combines computational design with high-throughput experimental validation, enabling rapid iteration between in silico predictions and laboratory testing. This tight feedback loop between AI models and empirical data, implemented across Xaira’s Seattle and Bay Area facilities, aims to speed up the traditionally lengthy drug development timeline.

2. Isomorphic Labs

• Strategic value: $3B in pharma partnerships (2024)
• Partnership details: Eli Lilly: $45M upfront, $1.7B potential milestones (excluding royalties); Novartis: $37.5M upfront, $1.2B potential milestones (excluding royalties)
• Technical achievement: AlphaFold 3 launch with Google DeepMind (May 2024)
• Recognition: 2024 Nobel Prize in Chemistry jointly awarded to CEO Demis Hassabis and John Jumper (shared half of prize)

Strategic partnerships (January 2024): Collaborations with Eli Lilly and Novartis valued up to $3 billion combined. Eli Lilly provided $45 million upfront with potential $1.7 billion milestones; Novartis $37.5 million upfront, up to $1.2 billion in milestones, both excluding royalties.
Focus: AI-driven small molecule discovery. Although not all terms are public, these deals confirm pharma’s willingness to integrate computational platforms at scale.

In May 2024, the Alphabet subsidiary Isomorphic partnered with Google DeepMind to launch AlphaFold 3, an advanced model capable of predicting structures and interactions of proteins, DNA, RNA, and various ligands with improved accuracy. In October 2024, Demis Hassabis, CEO of Isomorphic Labs and Google DeepMind, and John Jumper, a senior researcher at DeepMind, were jointly awarded half of the Nobel Prize in Chemistry for their development of earlier versions of AlphaFold. The other half was awarded to David Baker for computational protein design.

3. Generate:Biomedicines

• Novartis collaboration (September 2024): Over $1B deal to develop novel protein therapeutics
• Core Technology: Generative AI platform for designing novel proteins in immunology, oncology, and other areas

In September 2024, Generate:Biomedicines sealed a major collaboration with Novartis worth over $1 billion. By tapping Generate’s AI-driven protein design platform, this partnership aims to create protein therapeutics that can treat a variety of complex diseases. The deal shows how AI can identify not only straightforward targets but also enable the design of entirely new classes of drugs.

Core technology: Uses generative AI to design novel protein therapeutics in immunology, oncology, and beyond.

4. Recursion Pharmaceuticals

• Acquisition of Exscientia (August 2024): $688M acquisition consolidating AI capabilities
• Tech upgrade: BioHive-2 supercomputer (#35 on TOP500) for foundational model training

When Recursion Pharmaceuticals acquired Exscientia for $688 million in August 2024, it consolidated AI-powered capabilities under one roof. Recursion’s high-throughput screening and robust data generation complemented Exscientia’s generative AI platform, bringing target identification, compound design, and optimization into a single integrated pipeline.

Tech upgrade: BioHive-2, an NVIDIA DGX SuperPOD with 63 DGX H100 systems and 504 NVIDIA H100 GPUs (~2 exaflops), ranks #35 on the TOP500 (May 2024). Nearly 5x faster than its predecessor, it fuels foundational model training and rapid drug discovery cycles.

5. Schrödinger Inc.

• Novartis collaboration (November 2024): $150M upfront, up to $2.3B in milestones and royalties
• Scope: AI-driven molecular discovery and predictive modeling at scale

In November 2024, Schrödinger, Inc. forged a major collaboration and licensing agreement with Novartis AG. This multi-year, multi-target partnership saw Schrödinger receive a $150 million upfront payment, with the potential to earn up to approximately $2.3 billion more in milestone payments. The startup stands to receive up to $892 million for research, development, and regulatory milestones, and another $1.38 billion contingent on commercial success. On top of this, Schrödinger is set to receive tiered royalties, ranging from the mid-single digits to low double digits, on net sales of any products commercialized by Novartis under the agreement. Novartis will then take the reins for clinical development, manufacturing, and global commercialization. As part of the deal, Novartis also significantly expanded its access to Schrödinger’s full suite of drug discovery technologies, including its computational predictive modeling and enterprise informatics platform, for the next three years.

Other partnerships and progress

6. Genesis Therapeutics

• Funding (2024): $300M raised
• Strategic Partnership: Gilead deal with $35M upfront (Sept 2024)
• Platform: GEMS integrates diffusion models, language models, and physics-based ML for molecular design

Funding and Partnerships: $300M raised in total funding as of 2024, with a strategic Gilead partnership valued at $35M upfront in September 2024.

Details: Under the leadership of CEO Evan Feinberg, Genesis has developed GEMS (Generative Evolutionary Machine learning System), an AI platform that combines physics-based modeling with deep learning architectures. According to the company’s website, Genesis has created a leading molecular AI platform that integrates proprietary diffusion models, language models, and physical ML simulations for molecular generation and property prediction. The company has a hybrid computational-experimental pipeline that uses neural networks engineered for molecular property prediction and drug candidate optimization.

7. Immunai

• AstraZeneca Deal (September 2024): $18M upfront for immune system modeling in oncology trials
• Platform: Integrates single-cell genomics with ML for mapping immune dynamics

Immunai’s platform integrates single-cell genomics with advanced machine learning to create comprehensive maps of immune system dynamics. The company’s proprietary database encompasses millions of annotated immune cells to explore immune response patterns. Its September 2024 AstraZeneca partnership, valued at $18M upfront, specifically targets the application of AI-driven immune system modeling in oncology trials.

Emerging players

8. Archon Biosciences

• Stealth emergence (November 2024): $20M seed funding
• Core Innovation: “Antibody Cages” (AbCs) – AI-driven protein therapeutics
• Grants: $7M+ NIH/DoD funding
• Leadership: Founded by IPD alumni (James Lazarovits, George Ueda, David Baker)
• Platform: Developing “Antibody Cages” (AbCs), AI-driven protein therapeutics with geometrically tunable properties.

Leadership and scientific roots: Co-founded by James Lazarovits, Ph.D., George Ueda, Ph.D., and David Baker, Ph.D., from the Nobel Prize-winning labs at the University of Washington’s Institute for Protein Design (IPD).

Technical validation and platform capabilities: AbCs combine antibodies with AI-designed protein scaffolds, enabling highly specific and potent biologic drugs to target challenging disease pathways. This approach, recognized by the 2024 Nobel Prize in Chemistry for advances in computational protein engineering, allows for precise nanostructures that can address previously intractable targets.

Funding and grants: Beyond the initial $20 million seed financing (led by Madrona Ventures, with participation from DUMAC Inc., Sahsen Ventures, WRF Capital, Pack Ventures, Alexandria Venture Investments, and Cornucopian Capital), Archon secured over $7 million in NIH and Department of Defense grants to support R&D and early preclinical studies.

Pipeline and targets: Although Archon has not publicly disclosed its exact clinical pipeline, the company has indicated it will pursue “well-known targets,” suggesting an initial focus on oncology and other prevalent disease areas. The platform’s flexibility enables rapid iteration and optimization, potentially improving speed to clinical validation.

9. AION Labs

• Innovation model: Problem-based venture studio with dual tracks: venture building and venture seeding
• Portfolio companies: DenovAI (AI-driven antibody), TenAces Biosciences (ML-based molecular glue), CombinAble.AI (antibody optimization), ProPhet (AI-powered small molecule identification for drug discovery)
• Consortium members: AstraZeneca, Merck KGaA, Pfizer, Teva, AWS, BioMed X

Methodology and approach: Following the BioMedX methodology, AION Labs implements a systematic process where pharmaceutical partners define specific challenges by identifying major roadblocks in drug discovery and development. The approach examines current technological limitations, envisions solutions, validates data availability, and establishes precise delivery requirements for new technologies.

Innovation process: The venture studio operates through a structured framework that includes problem exploration, innovator recruitment, team formation, and company development. This process begins with a 5-day innovation workshop where selected entrepreneurs and scientist founders collaborate to develop solution approaches and form foundational teams.

Organizational structure: Established in 2021 in Israel, AION Labs has support from industry leaders AstraZeneca, Merck KGaA, Pfizer, Teva, AWS, BioMed X, along with venture capital firms Israel Biotech Fund and Amiti Ventures, operating under strategic guidance from the Israel Innovation Authority. Selected teams receive initial investment and comprehensive support from both partners and AION Labs.

Impact and recognition: This methodical approach has led to multiple successful spinouts integrating AI into drug discovery processes. AION Labs’ portfolio companies demonstrate the effectiveness of their collaborative, problem-driven approach to advancing pharmaceutical R&D through artificial intelligence applications.

10. Antiverse

• Funding (October 2024): $4.6M seed round, total $10.1M raised
• Partnerships: Collaborations with Nxera Pharma and a top 20 pharma validating antibody discovery
• Platform: ML and phage display to design de novo antibodies

Funding (October 2024): $4.6 million seed round, adding up to a total of $10.1 million in equity financing.

Partnerships: Working with Nxera Pharma (formerly Sosei Heptares) to develop AI-engineered antibodies against GPCR targets. A top 20 pharmaceutical company collaboration enabled Antiverse’s platform to identify 248 sequences, with over 230 confirmed as antibody binders, demonstrating higher diversity and accuracy than traditional methods.

Platform and approach: Antiverse integrates machine learning and phage display techniques to model antibody-antigen interactions and design de novo antibodies. Their AI-augmented approach reduces the discovery timeline to ~6 months, accelerating the path to clinical candidates. With new facilities in Boston and Prague, the company advances internal assets targeting GPCRs and ion channels toward clinical readiness.

Updated details on select companies

11. Insilico Medicine

• Licensing deal (January 2024): $12M upfront, $500M milestones with Menarini’s Stemline
• Pipeline: Over $400M raised, 11 preclinical candidates
• Clinical progress: TNIK inhibitor (ISM001-055) showing dose-dependent FVC improvements in Phase IIa for IPF

Licensing deal (January 2024): Exclusive agreement with Menarini’s Stemline Therapeutics for a novel breast cancer candidate includes $12 million upfront and up to $500 million in milestones.

Pipeline and clinical progress: Over $400 million raised and 11 preclinical candidates nominated. A lead TNIK inhibitor (ISM001-055) for idiopathic pulmonary fibrosis showed dose-dependent forced vital capacity (FVC) improvements in a Phase IIa trial.

In 2024, Insilico Medicine advanced its generative AI-driven platform into multiple clinical stages. On November 12, 2024, the company announced positive topline results from the Phase IIa trial of ISM001-055, showing it was safe, well-tolerated, and exhibited dose-dependent improvements in IPF. In April 2024, the FDA approved an IND for ISM3412, targeting a novel enzyme in oncology and immunology. Insilico also reached a major milestone in its collaboration with Sanofi (October 30, 2024), using Chemistry42 to tackle challenging drug targets, and partnered with Inimmune in September 2024 to co-develop next-generation immunotherapeutics. On November 13, 2024, Insilico received the Showcase AI and Biotech Innovation Award, further recognizing its growing influence. CEO Alex Zhavoronkov was named to Clarivate’s Highly Cited Researchers list for 2024.

12. NeuroX1

• Funding (2021-2024): $1.83M across four funding rounds, including investments from Techstars and Drive Capital
• Partnership (January 2024): With Everlum Bio for preclinical neurotherapeutics
• Platform: Chiron AI platform using physics-based generative chemistry for neurological disorders

Funding progression: Founded in 2021, NeuroX1 secured $1.34 million in its initial seed round (December 2021), followed by a $500,000 seed round led by Drive Capital (March 2023). By January 2024, total funding reached $1.83 million across four rounds, with key investors including Techstars and Drive Capital.

Partnership (January 2024): With Everlum Bio Inc. for preclinical small-molecule neurotherapeutics targeting neurological disorders, including rare pediatric conditions. This collaboration combines NeuroX1’s AI-driven drug discovery platform, Chiron, with Everlum’s expertise in personalized medicine and in vitro platform technologies. The partnership aims to streamline the drug development process, reduce costs, and expedite the delivery of effective treatments to market.

Platform and focus: Headquartered in Austin, Texas, NeuroX1’s proprietary Chiron platform employs physics-based generative chemistry to design novel therapeutics for neurological conditions. The company focuses on diseases such as Alzheimer’s and Parkinson’s, using in silico preclinical screening to reduce attrition rates and accelerate drug development timelines.

13. ImmunoMind

• Collaborations: Pfizer, Novartis, UCSF, Stanford, MIT, MD Anderson
• Technical capabilities: CAR-T optimization, T-cell characterization, open-source immune profiling
• Clinical applications: Autoimmune diseases, oncology, orphan diseases

Collaborations: Working with Pfizer, Novartis, UCSF, Stanford, MIT, and MD Anderson on personalized immunotherapies and vaccines.

Platform: Open-source frameworks integrating T- and B-cell multi-omics data guide autoimmune, oncology, and orphan disease therapies.

Additional details: ImmunoMind specializes in personalizing immunotherapies and vaccines through systems immunology. Their platform focuses on de-risking immunotherapy development by identifying efficient candidates and stratifying patients for clinical trials. ImmunoMind’s platform enables evaluation of CAR-T cell characteristics such as activation, proliferation, cytotoxicity, senescence, and exhaustion, assisting companies in selecting the most effective CAR-T product candidates. By assessing T-cell exhaustion, ImmunoMind refines products for improved efficacy. The platform, including Immunarch, has been cited in numerous scientific publications.

14. Deep Genomics

• BioMarin partnership: Identifying oligonucleotide candidates for four rare diseases using AI-based RNA tools
• Recognition: Stevie Award (Sept 2024) for Biotechnology Company of the Year
• Expansion: New Cambridge, MA and expanded Toronto facilities

BioMarin partnership (ongoing): Identifying oligonucleotide candidates for four rare diseases using AI-based RNA analysis tools.

Uses AI to streamline genetic medicine discovery, focusing on areas with high unmet needs and complex genetic etiologies. In September 2024, Deep Genomics was honored with the Stevie Award for Biotechnology Company of the Year, acknowledging its contributions to AI-driven RNA therapeutics.

By June 2024, Deep Genomics expanded its operations by opening a new office and laboratory facility in Cambridge, Massachusetts, and enlarging its Toronto office. This growth was accompanied by key leadership appointments, including:

• Radu Dobrin, Ph.D., as Chief Technology Officer
• Greg Hoffman, Ph.D., as Chief Scientific Officer
• Joel Shor as Vice President and Head of Machine Learning
• Clive Bertram as Chief Business Officer

15. BioSymetrics

• Pharma collaborations: With Sema4 for integrative phenomic-genomic-clinical analysis
• Alliances: Moleculera Biosciences (Oct 2024) and Deerfield Management JV (Oct 2022)
• Platform: Elion integrates healthcare and experimental data for target discovery

Pharma collaborations: Working with Sema4 to integrate phenomic, genomic, and clinical data for improved target discovery.

Further alliances and ventures: Partnered with Moleculera Biosciences (Oct 2024) to develop predictive treatment algorithms for immune-mediated neuropsychiatric disorders, and entered a five-year JV with Deerfield Management (Oct 2022) to accelerate therapeutic development. BioSymetrics’ Elion platform combines healthcare and experimental data, guiding high-confidence target identification.

16. Iambic Therapeutics

• Financials: $203M raised; $600M valuation (2024)
• Approach: Combines physics-based and ML methods for rapid protein-ligand analysis
• Platform: “Enchant” predicts clinical outcomes from early-stage data

Financials: $203 million raised; $600 million valuation in 2024.

Philosophy: Combines physics-based and ML methods. CEO Tom Miller stressed in an article earlier this year that AI is an augmentation tool rather than a cure-all.  “Just to hit on this recurring theme about the fact that drug discovery is a hard job — AI will not make a hard job an easy job. It will make a hard job marginally more navigable. And I think that is really the approach we take.”

In 2024, Iambic Therapeutics expanded its pipeline and platform capabilities. Its research was also  featured on the cover of Nature Machine Intelligence. On June 18, 2024, the company closed a $50 million extension to its Series B, bringing total funding beyond $150 million. This extension was led by Mubadala Capital and Exor Ventures, with participation from Qatar Investment Authority and existing investors. The investment will accelerate development of IAM1363, a selective, brain-penetrant HER2 inhibitor in Phase 1/1b studies, and a dual CDK2/4 inhibitor targeting treatment-resistant solid tumors. Iambic launched “Enchant” on October 29, 2024 — an AI platform that analyzes early-stage data to predict clinical outcomes and reduce development costs. On September 27, 2024, Endpoints 11 recognized Iambic’s innovations, while Lundbeck partnered with the company to advance neurological disease research.

Additional innovators 

17. Celsius Therapeutics (now part of AbbVie)

• Funding (Early 2024): $55M Series B
• Approach: Single-cell genomics + ML for target identification in immunology and oncology
• Acquisition: Acquired by AbbVie in June 2024 for $250M

Funding (Early 2024): $55 million Series B.

Approach: Integrates single-cell genomics and ML for precise target identification in immunology and oncology.

Additional details: Founded in 2018, Celsius Therapeutics uses single-cell genomics and machine learning to develop therapeutics for autoimmune diseases and cancer. Its SCOPE platform (Single Cell Observations for Precision Effect) analyzes cellular gene expression patterns to identify drug targets and patient groups.

The company’s single-cell database and ML algorithms identify cell types involved in disease progression and therapy resistance. This method identified TREM1’s role in IBD, leading to CEL383, an anti-TREM1 antibody.

Key partnerships include:

• Janssen Biotech (2019): Biomarker identification for ulcerative colitis trials.
• Servier (2021): Colorectal cancer research with potential $700M in milestones.
• Research collaborations: Parker Institute for Cancer Immunotherapy, Institut Gustave Roussy, and University Health Network for immunotherapy biomarker studies.

AbbVie acquired Celsius for $250 million in June 2024, gaining the SCOPE platform and CEL383 program.

18. PathAI

• Collaborations (2024): Multiple pharma partners using AI-based pathology tech
• Focus: Accurate, scalable AI pathology solutions for oncology trials

Collaborations (2024): Partnered with multiple biopharmas on AI-driven pathology.

Additional details: Founded in 2016, PathAI develops AI-powered pathology models trained on millions of annotations for clinical diagnostics and pharma research. GSK and Novo Nordisk use PathAI’s AIM-NASH tool in clinical trials for endpoint assessment. The company’s algorithms include AIM-NASH for liver disease classification and AIM-HER2 for breast cancer scoring.

In November 2024, PathAI launched PathExplore Fibrosis, an AI tool that quantifies fibrotic areas and collagen fibers from H&E-stained whole-slide images, eliminating the need for specialized staining techniques. The software analyzes tumor microenvironment features that influence treatment response, including tumor stiffness and immune cell infiltration, using standard laboratory imaging systems. The tool enables retrospective analysis of archival image data and supports biomarker discovery for patient stratification and treatment assessment.

19. Valo Health

• Clinical milestone (2024): First-in-human data for OPL-0401 (ROCK1/2 inhibitor)
• Partnership: Novo Nordisk (2023) $60M upfront, potential $2.7B total

Clinical milestone (2024): First-in-human data for OPL-0401, an AI-identified ROCK1/2 inhibitor. By March 2024, a Phase II trial in non-proliferative diabetic retinopathy had started.

Valo Health underwent leadership transitions in 2024, with Christian Schade becoming Executive Chairman and Graeme Bell interim CEO on January 16, followed by Brian M. Alexander, M.D., M.P.H., assuming the CEO role on November 13. The company completed enrollment for its Phase 2 Spectra trial of OPL-0401 in diabetic retinopathy on March 4, with topline results expected by year-end 2024. In September 2023, Valo partnered with Novo Nordisk on AI-driven cardiometabolic drug discovery, securing $60 million upfront with potential earnings of $2.7 billion.

20. Ginkgo Bioworks (NYSE: DNA)

• Scope: AI-driven cellular programming across therapeutics, agriculture, industrial biotech
• Growth (2024): 25% revenue increase (Q3 2024), new strategic collaborations (Google Cloud, NOVUS)

Scope: AI-driven cellular programming at scale, expanding applications beyond human therapeutics into agriculture, industrial biotech, and more.

In 2024, Ginkgo Bioworks reported mixed results. While Q3 revenue increased 25% to $100 million from cell programming and biosecurity services, the company’s stock fell 83.98% YTD and 97.42% from its all-time high, closing at $10.70 on December 9 from a high of more than $550 per share in October 2021. Yet the company strengthened its strategic position through government partnerships, hosting Congressional leaders to discuss its role in the U.S. bioeconomy and national security, including plans for its 250,000-square-foot Biofab1 facility.

Key developments this year included a September 2024 partnership with NOVUS for animal feed additives and a five-year Google Cloud collaboration launched August 2023 to develop biological engineering AI platforms. A January 2024 collaboration with Biogen focused on gene therapy production improvements. The company also acquired AgBiome’s platform assets in April 2024, gaining 115,000 sequenced strains and 500 million gene sequences. In September 2024, Ginkgo launched its Automation product line, featuring Reconfigurable Automation Carts, Control Software, and Managed Solutions for laboratory operations.

21. Dyno Therapeutics

• Focus: AI-optimized AAV vectors for gene therapy
• Technical foundation: LEAP platform integrating ML and high-throughput in vivo screening
• Commercial validation: Second collaboration with Roche ($50M upfront)

Focus: AI-optimized AAV vectors for gene therapy, enhancing tissue specificity and delivery efficiency.

Dyno Therapeutics integrates computational methods and experimental validation to engineer AAV vectors. Their LEAP platform combines machine learning with high-throughput screening, producing Dyno eCap 1, which showed 80-fold improved retinal delivery versus AAV2 vectors in primate studies. Through NVIDIA partnerships, it is using cloud computing and BioNeMo platforms for sequence design. A 2024 Roche collaboration ($50M upfront) validates their approach to neurological applications. Dyno focuses on tissue targeting, immune evasion, and manufacturing efficiency through iterative optimization and computational design.

22. BigHat Biosciences

• Platform: Milliner integrates AI and high-throughput synthesis to optimize antibodies
• Partnerships: AbbVie, Janssen, Lonza’s Synaffix
• Funding: $100M+ raised; $75M Series B (July 2022)

Platform: Combines AI with high-throughput synthesis to rapidly optimize antibodies’ affinity, specificity, and stability.

Additional details: Founded in 2019, BigHat Biosciences develops antibody variants through its Milliner platform, integrating ML algorithms with automated lab systems. The platform processes hundreds of antibody tests weekly. The company secured partnerships with AbbVie, Janssen Biotech, and Lonza’s Synaffix, advancing pipeline assets including ADCs in IND-enabling studies. BigHat raised over $100 million, with a $75 million Series B in July 2022.

23. Healx

• Rare disease focus: Accelerating solutions in underserved areas
• Funding (August 2024): $47M Series C
• Partnerships and milestones: Sanofi agreement, Phase 2 IND for HLX-1502 in NF1

Rare disease focus: In 2024, Healx advanced its rare disease programs while securing new partnerships and funding. The company raised $47 million in Series C funding in August and appointed Dr. Jonathan Milner as Non-Executive Chairman on December 3. Healx received FDA clearance for a Phase 2 trial of HLX-1502 in Neurofibromatosis Type 1 (NF1), planned to start by year-end, and partnered with the Children’s Tumor Foundation in April to support NF1 research. On November 13, Healx partnered with Sanofi to use its Healnet platform for identifying new rare disease indications for a Sanofi compound.

24. Insitro

• Scale and approach: High-throughput experimental biology + ML at large scale
• Recent deals: Three strategic agreements with Eli Lilly (Oct 2024) for metabolic diseases

Founded by machine learning pioneer Daphne Koller, Insitro has developed a distinctive platform that merges high-throughput experimental biology with advanced machine learning. In October, Insitro entered into three strategic agreements with Eli Lilly and Company to develop novel treatments for metabolic diseases, including metabolic dysfunction-associated steatotic liver disease (MASLD).

Its automated labs in South San Francisco generate massive proprietary biological datasets, feeding into ML models that uncover novel targets. Insitro’s approach is celebrated for tackling complex disease areas that have defied traditional methods.

25. A-Alpha Bio

• Metrics: $47.6M raised
• Platform: AlphaSeq measures millions of protein-protein interactions simultaneously
• Partnerships: BMS, Amgen, LLNL’s GUIDE program

Metrics: $47.6 million raised. Specializes in mapping protein interactions at scale using AI-driven experimental platforms.

Additional details: Founded in 2017, A-Alpha Bio’s AlphaSeq platform measures millions of protein-protein interactions simultaneously, delivering quantitative binding affinities from picomolar to micromolar scales. Partnerships with BMS and Amgen focus on identifying novel ligase-target pairs for molecular glue design, while a long-term collaboration with LLNL under the GUIDE program supports large-scale antibody-antigen binding data generation. The AlphaBind model applies deep learning for predicting and optimizing antibody-antigen affinities. With over a billion protein-protein interactions measured and increased DoD funding, A-Alpha Bio’s integration of synthetic biology and ML provides a robust framework for accelerating antibody discovery and optimization.