Noetik, a California-based biotech startup that leverages artificial intelligence and machine learning to develop next-generation cancer treatments, has secured $40 million in an oversubscribed series A funding round to expand its spatial omics-based cancer therapeutics platform.
Co-founded by Ronald Alfa and Jacob Rinaldi, the startup aims to combine the power of artificial intelligence and deep patient data to develop innovative cancer therapeutics, solving the challenges that exist in the development of new cancer therapies.
The round was spearheaded by Polaris Partners, with significant contributions from other notable investors, including Wittington Ventures, Khosla Ventures, and Breakout Ventures.
Existing investors Zetta Venture Partners, DCVC, Catalio Capital Management, Epic Ventures, 11.2 Capital, North South Ventures and Intermountain Ventures also participated in the round.
Noetik’s latest round also included participation from AI funds ApSTAT Technologies, Linearis Labs, and Ventures Fund, alongside contributions from angel investors, including AI innovator Yoshua Bengio, co-founder of Element AI Jean-Francois Gagne, and metabolomic specialist David Wishart, among others.
The company will use the new capital to advance its CRISPR Perturb-Map platform and scale training of its cancer foundation models, including OCTO. These platforms’ capabilities are critical for advancing the company’s cancer therapeutics candidates to clinical validation.
Noetik’s technology aims to solve critical challenges in cancer therapy development by improving biomarker development and target discovery to boost the chances of clinical success. This can help bring new effective cancer therapies to patients.
