Do you know who Jonathan Milner is? If you’ve ever worked in a biotech lab, chances are you’ve benefited from his legacy. The founder of Abcam, Jonathan Milner, transformed the way scientists access antibodies. Under his leadership as chief executive officer (CEO) until 2014, Abcam grew into a multinational entity with a market capitalization of approximately £3 billion.In 2023, Abcam became the subject of a $5.7 billion acquisition bid by Danaher Corporation. Jonathan Milner, holding a 6.14% stake in Abcam, publicly opposed the deal, arguing that the $24 per share offer undervalued the company. Despite his efforts, the acquisition was completed in December 2023.With his 6.14% stake in Abcam, amounting to approximately 14 million shares at the time of its acquisition by Danaher at $24.00 a share, Jonathan Milner must have received around $336 million in the process. For most, such a windfall might signal a peaceful retirement

Healx, a U.K. startup using AI to discover new drugs for rare diseases, has raised $47 million in a Series C round of funding.

Milestone payments from CTF will support advance of Healx's lead compound, HLX-1502, to clinical trials and broader Neurofibromatosis Type 1 programInvestment reinforces long-term, patient-focused partnership combining Healx's proprietary AI-powered drug discovery platform with CTF's preclinical and clinical research and patient community knowledgeNEW YORK, April 11, 2024 /PRNewswire/ -- Healx , the AI-powered, patient-inspired, techbio company pioneering the next generation of drug discovery, today announced that it has signed an investment agreement with its long-term partner, Children's Tumor Foundation (CTF). Milestone-driven payments from CTF will support the advance of Healx's AI-powered neurofibromatosis program including its lead candidate, HLX-1502, which is on course to enter a Phase 2 clinical trial in the coming months.Healx has partnered with CTF since 2020 to combine its cutting-edge AI platform and drug discovery expertise in identifying novel treatments for rare diseases such as Neurofibromatosis Type 1 (NF1) with CTF's preclinical and clinical research and patient knowledge.Investment merges Healx's AI drug platform with CTF's research/patient insights, fostering a patient-centered alliance. Post thisNF1 is a rare genetic condition that causes tumours to grow along the nerves. The two most common types of tumors are plexiform and cutaneous. Currently, there is only one approved treatment, a MEK inhibitor, for a subset of patients with plexiform neurofibromas. There are no approved pharmacological treatments for patients with cutaneous neurofibromas, representing a significant unmet need for the estimated 3 million people with the disease across the globe.Identified using Healx's AI-informed approach, HLX-1502 has a novel mechanism of action, and is supported by data that suggest a favourable safety profile