Bionaut Labs, a robotic drug supply expertise developer, closed a Sequence 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) ailments and issues. By way of magnetic propulsion, the corporate’s Bionauts can navigate the human physique and ship medicine regionally.
The expertise can attain deep areas within the midbrain with precision, going past the blood-brain barrier. This generates effectivity and helps to keep away from unwanted side effects and toxicity from systemically delivered medicine. Bionaut goals to develop options for circumstances together with Parkinson’s illness, Huntington’s illness, malignant glioma and hydrocephalus.
Funds raised within the Sequence B spherical are earmarked for advancing the medical growth of Bionaut’s lead packages. These packages embody therapies for malignant glioma mind tumors and Dandy-Walker Syndrome (a uncommon pediatric neurological dysfunction). The corporate additionally plans to make use of funds to help additional growth 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 medical trials in 2024.
Khosla Ventures led the financing, bringing Bionaut’s funds raised to this point to $63.2 million. New traders Deep Perception, OurCrowd, PSPRS, Sixty Diploma Capital, Dolby Household Ventures, GISEV Household Ventures, What if Ventures, Tintah Grace and Gaingels participated. Current traders Upfront Ventures, BOLD Capital Companions, Revolution VC, and Compound additionally participated.
“There was a dearth of innovation round therapies for circumstances that trigger large struggling, largely as a result of previous failures have discouraged even the most effective of researchers,” mentioned Michael Shpigelmacher, co-founder and CEO, Bionaut Labs. “Bionaut Labs stays dedicated to discovering new methods to deal with these devastating ailments, that are lengthy overdue for a breakthrough.”
