Led by Clarke Capital, the new funding round will accelerate the company’s drug discovery pipeline
AMERICAN FORK, Utah, Nov. 29, 2023 /PRNewswire/ — Biolexis Therapeutics, Inc., a clinical stage AI-driven drug discovery company, announced today the successful closure of a $10 million Series A funding round. The investment was led by Clarke Capital, a prominent institutional investor and alternative investment firm.
The new funding will advance Biolexis’ development pipeline which includes a range of promising metabolic drug candidates. 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.
“This financial backing from Clarke Capital is a testament to the potential of our metabolic drug portfolio,” said David Bearss, CEO of Biolexis. “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.”
The Series A funding marks a significant milestone for Biolexis but also marks 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. 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.
“At Clarke Capital, we’re committed to investing in companies poised to make a significant impact on healthcare,” said James Clarke, CEO of Clarke Capital. “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.”
To date, Drs. Bearss and Vankayalapati have filed more than 20 Investigational New Drugs (INDs) and have secured more than 100 patents. 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. The 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.
To learn more about Biolexis visit www.biolexistx.com.
About Biolexis
Biolexis Therapeutics is a privately held clinical-stage biopharmaceutical company dedicated to developing small molecules targeting cancers, immune-mediated, neurodegenerative, auto-immune, metabolic, and inflammatory diseases. Biolexis rapidly discovers and develops novel clinical candidates with unprecedented speed and accuracy through their proprietary MolecuLern AI-enabled drug discovery process.
About Clarke Capital
Clarke Capital is an alternative asset investment firm with a robust portfolio of successful companies. Clarke takes a “hands on” approach when partnering with visionary entrepreneurs with an aim to create and grow high-potential, industry transformative companies.
SOURCE Biolexis Therapeutics
