Healx, a Cambridge, UK-based clinical-stage biotech company specializing in rare diseases, raised $47M in Series C funding.

This round was co-led by R42 Group and Atomico, with contributions from existing investors such as Balderton, Jonathan Milner, Global Brain, btov, Ayana Capital, o2h, and VU Venture Partners. R42 Group founder and AI expert, Dr. Ronjon Nag, joined Healx's board following the investment.

The proceeds will be used to advance Healx's pipeline, including a Phase 2 clinical trial for its lead program HLX-1502, targeting neurofibromatosis Type 1 (NF1).

Co-founded by David Brown, Ph.D., known for co-inventing Viagra, and Tim Guilliams, Ph.D., Healx leverages generative AI to accelerate drug discovery for rare diseases, aiming to bring novel treatments to patients globally. The company's AI platform, Healnet, identifies de-risked therapeutic opportunities with the help of advanced generative AI.

Recently, Healx received FDA clearance to begin a Phase 2 trial of HLX-1502 for NF1, a tablet offering a new treatment option with Orphan Drug and Rare Pediatric Disease designations from the FDA.