BigHat Biosciences Raises $75 Million for AI-Driven Cancer Drug Discovery

BigHat Biosciences, a biotech startup based in San Mateo, California, has secured $75 million in its latest funding round to advance its AI-driven drug discovery platform. The Series C round was led by DFJ Growth and Premji Invest, bringing the company's total venture capital raised to nearly $220 million since its founding seven years ago by CEO Peyton Greenside and Mark DePristo.

The funds will be used to expand its protein therapeutic design platform, progress two lead cancer drugs through clinical trials, and increase hiring. BigHat is already collaborating with major pharmaceutical companies like Eli Lilly, Merck, Johnson & Johnson, AbbVie, and Amgen, gaining valuable insights into drug development challenges.

One of BigHat's proprietary drugs, BHB-810, is an antibody-drug conjugate targeting gastric cancer and other advanced gastrointestinal tumors. The first early-stage clinical trial for BHB-810 began dosing patients just a few weeks ago, with data expected next year. Additionally, the company plans to initiate a clinical trial for another cancer drug, BHB-299, a T cell engager designed to attract immune system T cells to attack solid tumors.

BigHat's progress in AI-designed drugs positions it as a leader in the field, with one drug already in clinical trials and another set to begin human studies next year. The company's innovative approach aims to make drug discovery faster and more cost-effective, addressing complex issues in the biotech industry.