Noetik, a San Francisco, CA-based AI-native biotech company focused on developing next-generation cancer therapeutics, has closed an oversubscribed $40 million Series A financing round.
Investors
The round was led by Polaris Partners, with managing partner Amy Schulman joining the board. New investors Khosla Ventures, Wittington Ventures, and Breakout Ventures participated, along with existing investors DCVC, Zetta Venture Partners, Catalio Capital Management, 11.2 Capital, Epic Ventures, Intermountain Ventures, and North South Ventures.
The round also included AI funds ApSTAT Technologies, Linearis Labs, and Ventures Fund, supported by leading AI expert Yoshua Bengio and metabolomic expert David Wishart, as well as Element AI co-founder Jean-Francois Gagne and current and former Recursion executives.
Polaris Partners is a venture capital investment firm based in Boston, Massachusetts. Founded in 1996, the firm seeks to invest in the healthcare, life sciences, and biotechnology sectors.
Noetik Use of Funds
The funds will enhance Noetik's spatial omics atlas and high-throughput CRISPR platform, accelerating the development of AI-powered cancer therapies.
About Noetik
Noetik was founded to tackle critical challenges in developing effective new therapeutics, specifically by improving target discovery and biomarker development to enhance clinical success rates. The company has created a unique discovery and development platform that combines human multimodal spatial omics data with a high-throughput in vivo CRISPR perturbation system (Perturb-Map). Their platform integrates spatial omics data, which details the molecular characteristics of tissues and cells in their spatial context, with CRISPR-based perturbation methods to deepen the understanding of cancer biology and identify new therapeutic targets.
Funding Details
Company: Noetik, Inc.
Raised: $40.0M
Round: Series A
Funding Date: August 2024
Lead Investor: Polaris Partners
Additional Investors: Khosla Ventures, Wittington Ventures, Breakout Ventures, DCVC, Zetta Venture Partners, Catalio Capital Management, 11.2 Capital, Epic Ventures, Intermountain Ventures, North South Ventures, ApSTAT Technologies, Linearis Labs, Ventures Fund
Company Website: https://www.noetik.ai/
Software Category: Discovery and Development
Source: https://www.businesswire.com/news/home/20240829428359/en/