|
Listen to this text  |
Bionaut Labs, a robotic drug supply expertise developer, closed a Series B financing spherical price $43.2 million. Los Angeles-based Bionaut Labs makes use of microscale robots to ship medicine for treating central nervous system (CNS) illnesses and problems. Through magnetic propulsion, the corporate’s Bionauts can navigate the human physique and ship medicine regionally.
The expertise can attain deep places within the midbrain with precision, going past the blood-brain barrier. This generates effectivity and helps to keep away from unintended effects and toxicity from systemically delivered medicine. Bionaut goals to develop options for situations together with Parkinson’s illness, Huntington’s illness, malignant glioma and hydrocephalus.
Funds raised within the Series B spherical are earmarked for advancing the scientific improvement of Bionaut’s lead packages. Those packages embrace therapies for malignant glioma mind tumors and Dandy-Walker Syndrome (a uncommon pediatric neurological dysfunction). The firm additionally plans to make use of funds to help additional improvement of the proprietary Bionaut therapy platform.
Bionaut plans to launch main pre-clinical knowledge packages from IDE- and IND-enabling research in 2023. It goals to provoke human scientific trials in 2024.
Khosla Ventures led the financing, bringing Bionaut’s funds raised thus far to $63.2 million. New buyers Deep Insight, OurCrowd, PSPRS, Sixty Degree Capital, Dolby Family Ventures, GISEV Family Ventures, What if Ventures, Tintah Grace and Gaingels participated. Existing buyers Upfront Ventures, BOLD Capital Partners, Revolution VC, and Compound additionally participated.
“There has been a dearth of innovation around treatments for conditions that cause tremendous suffering, in large part because past failures have discouraged even the best of researchers,” stated Michael Shpigelmacher, co-founder and CEO, Bionaut Labs. “Bionaut Labs remains committed to finding new ways to treat these devastating diseases, which are long overdue for a breakthrough.”