What does Parallel Bio do?
Parallel Bio is a biotechnology company based in Cambridge, MA that focuses on human-first drug discovery. By combining organoids with advanced AI and automation, the company creates true-to-life models of the human immune system, enabling more accurate predictions of drug success and disease target identification.
How much did they raise?
The company raised $21M in a Series A funding round, led by AIX Ventures with participation from Amplo, Marc Benioff, Metaplanet, Humba Ventures, Atypical Ventures, Undeterred Capital, and Jeff Dean.
What are their plans for the money?
With the new funds, Parallel Bio plans to scale its AI and automation capabilities, expand its team of scientists and engineers, and bolster its pharmaceutical partnerships. The investment is set to accelerate the development and implementation of its innovative organoid-based platform, potentially transforming immunotherapy testing and drug discovery processes.
What have they achieved so far?
Parallel Bio has already made significant strides by developing the first platform that replicates the human immune system across diverse populations. Its Clinical Trial in a Dish platform is being used by several Fortune 500 pharmaceutical partners to test the safety and efficacy of immunotherapies, and the partnership with Centivax for a flu vaccine program underscores its successful early achievements.