Ascension’s Post

Our partners Amiti held their annual AGM in Chicago which included a #FiresideChat on the AION Labs Partnerships and #companycreation model Noora Kattouf and Tomer Amit joined Brachie Sprung for a fireside chat to discuss Amiti’s transformative partnership with AION Labs. This unique #collaboration between #pharma, technology providers, and venture capital is pioneering innovative solutions and building companies that directly address pharma’s most pressing challenges. Key Insights from the Fireside Chat: Pharma’s Innovation Imperative: Noora touched on the challenges the pharmaceutical industry faces with the looming $250 billion patent cliff. She highlighted the incredible innovations emerging as leading founders leverage dynamic modeling and other proprietary tools to tackle these challenges. AION Labs provides a distinctive innovation model that bridges the expertise of pharma, technology providers, and venture capital to create impactful solutions. AION’s Unique Collaborative Framework: Noora explained how AION Labs works directly with pharma R&D teams to pinpoint their most critical pain points. This partnership fosters open discussions on groundbreaking technologies and applications while designing companies tailored to address these needs. This highly integrated process ensures that startups are aligned with the operational and scientific goals of their pharma partners. Pharma’s Role in Tech Bio Innovation: Pharma companies excel in recognizing the value of scientific advancements but often lack the experience needed to build successful startups. AION simplifies this process by embedding pharma into the innovation journey. Pharma teams contribute proprietary data from day one, participate in planned proofs-of-concept (POCs), and assign dedicated R&D mentors to ensure startups receive the guidance needed for growth. Amiti’s Role in Company Building: Amiti brings its deep expertise in selecting exceptional #founders and building scalable companies to the table. By aligning these teams with pharma’s goals, Amiti instills confidence in pharma partners to invest in AION-backed startups, ensuring they are both scientifically rigorous and commercially viable. Looking Ahead: This fireside chat emphasized AION Labs as a model for redefining tech bio innovation. With Amiti’s expertise in company-building and AION’s ability to integrate pharma into the process, the partnership is setting a new standard for #innovation in the pharmaceutical industry. Ben Rabinowitz Maya Pizov Yafit Schwartz

📈💡 𝐁𝐢𝐨𝐭𝐞𝐜𝐡 𝐅𝐮𝐧𝐝𝐢𝐧𝐠 𝐒𝐨𝐚𝐫𝐬: 𝐓𝐡𝐞 𝐃𝐫𝐢𝐯𝐞 𝐟𝐨𝐫 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 The biotech sphere is buzzing with excitement! The first quarter of 2024 has seen venture capital funding soar to a stunning $6.8 billion, focusing heavily on combating cancer and neurological disorders. This surge surpasses last year’s peak, signaling vibrant sector growth. Startups, infused with fresh funds, are on the frontlines developing breakthrough technologies and enhancing established treatments like antibody-drug conjugates and radiopharmaceuticals. It's clear that investors are playing it smart, rallying around startups led by seasoned management teams. Heavyweights like OrbiMed and ARCH Venture Partners are leading the charge, with GV (Google Ventures), RA Capital Management, and Cormorant Asset Management, LP not far behind. This influx of capital is crucial as it propels drug candidates through the treacherous waters of preclinical and Phase 1 trials. Amidst a slowdown in IPOs and a tightened funding landscape last year, the robust increase in private investments stands out. It's a beacon of hope and a testament to the unwavering belief in the transformative potential of biotech. The stakes are high and the goals ambitious – but the question remains: Will this wave of funding translate into the next generation of medical breakthroughs? P.S. - kudos to Nicolas Schmitz for regular updates on pharma industry! #BiotechBoom #VentureCapital #Innovation #DrugDevelopment

#venture #capital #deals Kailera Therapeutics, a biotech startup developing obesity drugs, raised a $400 million Series A led by Atlas Venture, Bain Capital Life Sciences and RTW Investments. Eon.io, which makes cloud infrastructure backup technology, raised a total of $127 over three rounds, the first led by Sequoia, the second led by Lightspeed and the third by Greenoaks Capital Partners. Nusano, which produces radioactive materials for use in pharmaceuticals, raised over $115 million in a Series C led by Wasatch Group. Dexory, a London-based robotics and data intelligence company, closed an $80 million Series B led by DTCP. 11x, a San Francisco-based developer of AI-powered bots for businesses, raised about $50 million for its Series B led by Andreessen Horowitz AI software infrastructure startup HPC-AI Tech raised a $50 million Series A from investors including Singtel Innov8, Sinovation Ventures and Capstone Capital. Nym, a New York-based developer of an autonomous medical coding engine for the healthcare system, raised a $47 million round led by PSG. DataPelago, which seeks to speed up data processing, raised a $47 million round from investors including Eclipse Ventures, Taiwania Capital and Qualcomm Ventures.

🚀CALLING ALL START-UPS... Are you ready to elevate your start-up and gain unmatched visibility in the AI-driven drug discovery space? The Innovation Incubator at this year’s AI Driven Drug Discovery Summit (November 12-14, Boston) is your chance to shine in front of 300+ industry leaders, investors, and potential partners. Why apply? 🎤Pitch to High-Profile Judges: Present your groundbreaking solutions live on stage to a prestigious panel, including: Mark Adams, Venture Capital Partner, Two Bear Capital Lu Zhang, Founder & Managing Partner, Fusion Fund Claire Leurent PhD MBA, Managing Director, AbbVie Ventures Aiden Aceves, Ph.D., Vice President, Insight Partners 🌟Gain Validation & Recognition: Receive valuable feedback and validation from industry experts who are on the lookout for the next big thing in drug discovery 🤝Connect with Key Stakeholders: Expand your network and unlock new growth opportunities with key players in biopharma, venture capital, and beyond Apply now for free 👉 https://lnkd.in/e_GaSGqz How it works: - You must be a start-up with an AI and/or drug discovery innovation  - Submit your application for free before Friday, September 27 - Our Selection Committee will review your application and select six finalists - Each finalist will take to the stage and pitch their innovations  - The first-ever Innovation Incubator Winner will be selected and announced ⏳Applications close on Friday, September 27 - apply now and take your startup to the next level 👉 https://lnkd.in/e_GaSGqz #AIDDD #aidrivendrugdiscovery #aiinnovations #drugdiscovery #drugdiscoveryinnovations #aistartup #drugdiscoverystartup

Excited to see these fresh faces and companies! I can't wait to see what types of products and technologies they're bringing to market. #StartUpAccelerator #BiotechInnovation

The Latest Startup Funding Buzz 1.    Culina Health, a digital platform that makes clinical nutrition care inclusive and accessible for everyone, raised a $7.9 million Series A funding round on the strength of 117% YoY growth and exceptional patient engagement and clinical outcomes. 2.    Island, the Enterprise Browser company, announced the participation of ServiceNow Ventures as a strategic investor in its previously announced Series D funding round. 3.    ŌURA, the company behind Oura Ring, the world's leading smart ring, completed a $200 million Series D funding round, raising the company's valuation to $5.2 billion. 4.    Accelergen Energy LLC Energy, a greenfield developer of utility-scale battery energy storage systems (BESS), and hybrid solar storage systems, secured $20 million in bridge funding. 5.    Speakeasy has raised $78 million in Series C funding at a $1 billion valuation. Accel led the round. The firm has now raised $162 million to date. 6.    Veradermics, a late clinical-stage aesthetics and dermatology-focused biopharmaceutical company developing first-in-class therapeutics for common dermatologic conditions, closed a $75 million Series B financing. 7.    SandboxAQ is a B2B company delivering solutions at the intersection of AI and quantum techniques. They raised $300 million and is now valued at $5.3 billion on a pre-money basis. 8.    Simulation Theory, Inc. a start-up dedicated to reducing waste by optimizing compute resources, successfully raised $2 million in pre-seed funding. Startups and funding alert on WhatsApp: https://lnkd.in/dDmwtnNH #ai #genai #funding #startups #appdevelopment #datingapps #appscrip #logistics #transportation #telemedicine

📢 Exciting news for Philadelphia’s biotech ecosystem! CIC (Cambridge Innovation Center) Philadelphia and Persephoni BioPartners have announced a strategic partnership aimed at accelerating the growth of early-stage biotech companies in the region. This collaboration brings together CIC’s globally recognized innovation hub in uCity Square with Persephoni’s expertise as a venture studio and strategic advisory firm. With over 100 years of combined leadership experience, the Persephoni team has played a critical role in advancing 300+ therapies, securing multiple FDA approvals, and driving major transactions across the biotech industry. Through this partnership, Persephoni will provide startups with tailored support in areas like preclinical development, regulatory strategy, and capital raising, empowering them to bring cutting-edge innovations to market. This partnership highlights Philadelphia’s growing prominence as a life sciences hub, creating opportunities for innovation and growth across the industry. Full Press Release 👇 https://lnkd.in/gVxqqmHW

💼 Venture Finance Update: 🇪🇺 European 🇪🇺 Startup Funding Trends in September 2024 As September progresses, European startups are continuing to secure significant funding, showing strength and growth in the ecosystem. Some of the key deals in the past 10 days include: Form3 raised $60 million in a Series C extension on September 10, 2024, led by British Patient Capital. The funding round brings Form3's Series C total to $220 million, supporting its expansion in payment infrastructure for major banks and fintech firms. 💳 CardiaTec Biosciences secured $6.5 million in seed funding on September 10, 2024, led by Montage Ventures. The funding will help advance its computational platform, which focuses on decoding cardiovascular disease biology using multi-omics data. This enables the discovery of new drug targets and therapies for heart disease, the leading global cause of death. ❤️ CorFlow Therapeutics raised $48.5 million in a Series B funding round on September 10, 2024. The funding, co-led by Broadview Ventures Inc Ventures and Panakes Partners, will support the development of CorFlow's CoFl system, a diagnostic and drug delivery platform for detecting microvascular obstruction (MVO) in heart attack patients. The funds will be used to advance pivotal trials in both the U.S. and Europe, aiming to secure market clearance for the system, which allows for localised therapeutic delivery and real-time detection of MVO during heart procedures. ❤️ Despite a 25% drop 🪫 in overall funding compared to last year, Europe's tech scene remains strong, particularly in #AI and #datadriven sectors. 🌍 Looking to understand how venture finance can accelerate your growth? Let’s chat! 💬 #VentureFinance #ScaleupSuccess #StartupFunding #AI #B2B #P2VentureFinance #StartupEurope

Amsterdam and Zurich-based biotech startup Cradle has raised $73M (approximately €69.5M) in a Series B funding round. Cradle‘s AI platform enables scientists to accelerate the discovery and development of improved proteins by making the process of engineering better proteins significantly easier, faster, and more cost-effective. Read more about the deal here: https://lnkd.in/gUpmcGv2 IVP, Index Ventures, Kindred Capital VC, Stef van Grieken, Alex Lim

This year, biotech and healthcare startups have taken the lead in U.S. Series A funding, securing $5.6 billion across 110 rounds. This represents 53% of all Series A investments. The largest Series A rounds have gone to companies like Xaira Therapeutics and Mirador Therapeutics. This trend highlights a shift in the startup ecosystem, with significant capital flowing into health and biotech sectors. https://lnkd.in/d-B5UKr8