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Parallel Bio Secures $4.3 Million Seed Round To Accelerate Drug Discovery Through Human Immune System In A Dish

Dec 20, 2022•over 2 years ago

Amount Raised

$4.3 Million

Round Type

seed

Cambridge

Investors

Breakout VenturesRefactor Capital

Description

Parallel Bio, a biotech company unlocking the human body’s own power to cure disease, today unveiled $4.3 million in seed funding. The investment capital has enabled it to prove the viability of its immune-system-in-a-dish platform and accelerate the pace of drug discovery and development. The seed funding was led by Refactor Capital, with other investors including Breakout Ventures; Jeff Dean, SVP of Google AI; Y Combinator; several biotech-focused funds; and senior executives at global pharmaceutical companies.

Company Information

Company

Parallel Bio

Location

Cambridge, Maryland, United States

About

Parallel Bio unlocks the human body’s own power to cure disease. It developed the first platform that replicates the human immune system in a dish for drug discovery and development. It models human disease more realistically and accurately than animal testing—leading to the fastest path to treatments and cures that work for more people. Through its combination of immune organoids, machine learning and robotics, the platform represents the complexity of disease and the diversity of patients at population scale. Based in Cambridge, Mass., the company was founded in 2021 by two scientists responsible for creating the world’s first scalable human immune organoid. Learn more at https://www.parallel.bio.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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