In March of 2021, Bionaut Labs arrived out of stealth, with plans to commercialise longstanding research around drug deliveryrobots. The Los Angeles-based startup today followed up its initial $20 million funding announcement with a $41.2 million Series B, raising its total raised up to $61.2 million. New investors in the round include Deep Insight, OurCrowd, and Sixty Degree Capital.
If you have followed the space, you know about the research that went into these tiny, remote-controlled medicalrobots. The deadlines for Bionaut's work include pre-clinical studies and clinical trials with human patients.
Past failures have discouraged even the best of researchers when it comes to treatments for conditions that cause tremendous suffering, according to CEO and co- founder Michael Shpigelmacher. There is a need for a breakthrough in the treatment of these devastating diseases.
The startup's magnetically driven robot is designed to deliver treatments to the midbrain, which is more direct than standard systemically delivered drugs. Parkinson's disease and Huntington's disease are two conditions that the firm is interested in.
Treatments for brain tumors will be the focus of this round of funding. The money will be used to advance R&D on its technology, and to hit certain goals.
Shpigelmacher and Maizels were once involved with Primesense, the Israeli-based 3D imagining firm. The foundation for Face ID tech was created by that firm, which was acquired by Apple.
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