NEW YORK — A-Alpha Bio said on Tuesday that it has raised $22.4 million in a Series A2 financing round.
The round was led by Perceptive Xontogeny Ventures and included Madrona, both of which were existing investors. New investors participating in the round included Breakout Ventures.
Seattle-based A-Alpha Bio was founded in 2017 as a spinout of the University of Washington and has raised $51 million to date, including $20 million in Series A funding in late 2021, as well as non-dilutive funding from the Bill & Melinda Gates Foundation, the National Science Foundation, and the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense.
The synthetic biology and machine learning company plans to use the new funding to further develop its AlphaSeq platform for measuring protein-protein interactions using genetic engineering and DNA sequencing, as well as its AlphaBind platform, which uses machine learning to train models that predict protein sequences with desired binding properties. The money will also support the development of A-Alpha Bio's pipeline of cancer therapeutics, which are currently in the discovery and validation stage.