BigHat Biosciences Raises $75M to Advance AI Cancer Drugs
BigHat Biosciences raised $75M Series C led by DFJ Growth and Premji Invest to expand its AI-driven protein design platform and advance oncology programs.
The big picture: San Mateo, Calif.-based BigHat Biosciences has raised $75 million in a round co-led by DFJ Growth and Premji Invest, bringing its total funding to $223 million. The company plans to use the capital to expand its automated protein-design platform and advance two oncology programs, including BHB810, which has entered Phase 1 trials.
Why it matters:
- Accelerating Drug Discovery: AI-driven protein design significantly shortens the development timeline for complex therapeutics, addressing critical unmet needs in oncology and immunology.
- Validated Pipeline: The platform has successfully advanced two antibody-based oncology candidates into human trials, demonstrating its potential to deliver tangible clinical outcomes.
- Strategic Partnerships: Collaborations with major pharmaceutical companies like Amgen, Merck, and Eli Lilly validate BigHat’s technology and expand its market reach.
How it works:
- AI-Guided Design: BigHat’s platform uses frontier AI to design novel proteins, optimizing for multiple therapeutic requirements beyond simple target binding.
- High-Throughput Experimentation: Designed proteins are rapidly tested in high-throughput labs, generating proprietary datasets that continuously refine and improve subsequent AI design cycles.
- Internal Pipeline Development: The integrated platform allows BigHat to build and advance its own pipeline of antibody-based treatments, from discovery to clinical trials.
The catch: The highly competitive AI drug discovery landscape features numerous startups and established pharmaceutical companies investing heavily in similar platforms. While BigHat has demonstrated clinical progress, the long and costly path of drug development, particularly through late-stage trials, presents significant execution and financial risks. The success of its lead candidates will be critical for sustained growth and market differentiation.
Key Facts
- Company: BigHat Biosciences
- Amount: $75M
- Round: Series C
- Investors: DFJ Growth and Premji Invest (co-lead), Catalio Capital Management, LG Technology Ventures, Sigmas Group, 8VC, Alexandria Venture Investments, Amgen Ventures, Andreessen Horowitz (a16z), Discovery Ventures, Grids Capital, Intermountain Ventures, Eli Lilly and Co., Merck Global Health Innovation Fund, Quadrille Capital, Section 32
- Founder: Peyton Greenside
- Sector: AI-driven Protein Design for Therapeutics
- Headquarters: San Mateo, California