BioLoomics, a company specializing in the directed evolution of target-degrading antibodies using human cells, has secured $8.7 million in seed financing to advance its platform technology and antibody degrader programs.
The funding round was led by Innovation Endeavors, with participation from Horizons Ventures, TechU Ventures, Boom Capital Ventures, Hummingbird Nomads Fund, Cooley GC&H, BoxOne Ventures, and Viswa Colluru, the founder of Enveda.
BioLoomics utilizes a human cell-directed evolution platform to evolve fluorescent reporter cells with high quantitative power, allowing it to partner with other companies in the industry. The company’s technology enables the design and testing of unique spatial activities of antibody designs on a scale 10,000 times greater than legacy methods, potentially leading to safer and more effective cancer therapeutics.
“Our mission is to make safer, more effective cancer therapeutics by hijacking how human proteins move antibodies around the cell,” said Dr. Douglas Chapnick, founder and CEO of BioLoomics. “We’re excited to have support from Innovation Endeavors, with a shared vision that accelerated protein design requires not just Machine Learning, but immense testing throughput.”
BioLoomics plans to use the funding to develop pre-clinical assets and form strategic partnerships with large pharmaceutical companies. The company is actively recruiting for Chief Scientific Officer (CSO) and Chief Technology Officer (CTO) roles.
Dr. Joel Dudley, Partner at Innovation Endeavors, commented, “BioLoomics is a great example of how we envision our concept of Super Evolution manifesting in the life sciences to accelerate therapeutic solutions for major unmet clinical needs.”
The addition of Dr. Nick Saccomano as an Independent Board Director further strengthens BioLoomics’ leadership team. Dr. Saccomano, formerly the CSO of Array Biopharma and SVP at Pfizer, brings extensive experience in leveraging technology and novel modalities to address unmet needs in diseases.