Biolexis Therapeutics – a clinical-stage AI-driven drug discovery company – recently announced the successful closure of a $10 million Series A funding round. This funding round was led by Clarke Capital, which is a prominent institutional investor and alternative investment firm.
The new funding round will advance Biolexis’ development pipeline, which includes a range of promising metabolic drug candidates. And these drugs have the potential to tackle various metabolic disorders that affect millions of people worldwide and are linked to significant health complications such as obesity and diabetes.
The Series A funding round marks a significant milestone for Biolexis and Clarke’s return to partner with Drs. Bearss and Vankayalapati, having been a major investor in their first company Montigen Pharmaceuticals, a decade and a half ago before it was sold to a publicly traded company. And the reteaming will allow the company to expand its operations and accelerate the clinical development of its key drug candidates. With the prevalence of metabolic diseases on the rise and current treatments in limited supply, the need for new and effective treatment options is more urgent than ever.
To date, Drs. Bearss and Vankayalapati filed over 20 Investigational New Drugs (INDs) and have secured more than 100 patents. And using its unique AI-driven MolecuLern process, Biolexis has 40 active programs in discovery and 10 pipeline programs in the IND-enabling stages of development. This process – which targets any class of protein to identify novel chemical entities (NCEs) with drug-like characteristics and real wet-lab data validation – reduces the discovery and development timeline from years to months.
KEY QUOTES:
“This financial backing from Clarke Capital is a testament to the potential of our metabolic drug portfolio. Our science is on point, and our team is ready to tackle the unmet needs within the metabolic disorder spectrum. With Clarke Capital’s support, we’re in a strong position to accelerate our drug development pipeline and move closer to bringing our solutions to patients.”
— David Bearss, CEO of Biolexis
“At Clarke Capital, we’re committed to investing in companies poised to make a significant impact on healthcare. Biolexis’ impressive approach to addressing metabolic disorders and other treatment-resistant conditions has the potential to change lives. We are overjoyed to support their mission and look forward to seeing the results of their groundbreaking work.”
— James Clarke, CEO of Clarke Capital
