AI-based drug developer Basecamp valued at $800 million after $140 million funding round

By Puyaan Singh

Sept 23 (Reuters) - ‌Basecamp Research ​said ​on Wednesday it has raised $140 million in a Series C funding round that valued the ‌AI-based drug developer at $800 million.

The oversubscribed round was led ⁠by S32, with participation from Nvidia, Anthropic's Anthology Fund, Catalio Capital ‌Management, the NATO Innovation ‌Fund, the Rockefeller Foundation and Singular, among other investors.

• Basecamp raised $60 million in its Series B round in ​October 2024, led by Singular.

• The company said it would use the latest funding to train a ⁠new generation of its EDEN biological foundation models and move a pipeline of ​AI-designed therapies toward clinical development.

• The London-based company will initially focus on therapies that reprogram patients' ​cells inside the body.

• The ‌company said its EDEN technology could make cell therapies more customizable and easier to administer ⁠for cancer and autoimmune diseases, compared to current treatments that it said cost "hundreds of thousands of dollars per patient".

• Basecamp ⁠added it had demonstrated strong preclinical results across several types of therapies ​and diseases, but did not provide a timeline for starting clinical trials.

• EDEN is trained on Basecamp's proprietary genomic dataset, assembled ‌through partnerships in more than 30 countries, and can generate potential drug candidates based on ‌information about a disease, the company said.

• The company ⁠also appointed former Biogen executive ‌Richard Pearce as ​chief business officer to expand its pharmaceutical partnerships.

(Reporting by Puyaan Singh in Bengaluru; Editing by Vijay ‌Kishore)

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