NEW YORK – MultiOmic Health has closed a £5 million ($6.2 million) seed funding extension round, the UK drug discovery startup said Thursday.
The round was led by Hoxton Ventures, an early-stage venture capital firm based in London, with participation from Ada Ventures, MMC Ventures, and Verve Ventures. MultiOmic Health, also based in London, has raised $8.6 million in total funding since beginning operations in 2021. Its previous round was led by Fifty Years, a San Francisco-based pre-seed and seed stage venture capital firm.
MultiOmic Health said it will use proceeds from the new funding to demonstrate proof of concept for its precision therapeutics discovery platform for diabetic kidney disease. The platform, dubbed Mohsaic, uses artificial intelligence to analyze multiomics patient data and longitudinal clinical information and to simulate disease pathways.
MultiOmic Health partners with healthcare providers to collect and analyze de-identified patient data and biological samples. Its goal is to use that information to develop novel precision therapeutic concepts in metabolic syndrome-related diseases, which it plans to commercialize through partnerships with biopharmaceutical companies.
"Existing treatments for metabolic syndrome-related conditions merely reduce risk or delay onset of serious consequences," MultiOmic Health Cofounder and CEO Robert Thong said in a statement. "There are no existing precision medicines to tackle the specific molecular-level drivers of each metabolic syndrome disease variant."
A year ago, MultiOmic Health partnered with Singapore-based predictive analytics startup Mesh Bio to improve diagnostics and drug discovery in chronic metabolic disease.