Healx, a techbio company utilizing AI in drug discovery, has announced an investment agreement with its longstanding partner, the Children's Tumor Foundation (CTF). 

The agreement entails payments from CTF to support the advancement of Healx's AI-powered neurofibromatosis program, particularly focusing on its lead candidate, HLX-1502, slated to enter a Phase 2 clinical trial in the near future.

Since 2020, Healx has collaborated closely with CTF, leveraging its AI platform and drug discovery expertise to identify novel treatments for rare diseases such as Neurofibromatosis Type 1 (NF1). NF1, a rare genetic condition characterized by tumors along the nerves, presents an unmet medical need, with approximately 3 million individuals affected worldwide. Current treatment options are limited, with only one approved therapy for a subset of patients, highlighting the urgency for innovative therapies.

HLX-1502, identified through Healx's AI-informed approach, offers a novel mechanism of action and demonstrates a favorable safety profile, positioning it as a promising candidate for both plexiform and cutaneous subtypes of NF1. The financial terms of the agreement have not been disclosed.

Dr. Tim Guilliams, co-founder and CEO of Healx, expressed gratitude for CTF's continued support, emphasizing their shared commitment to addressing the needs of NF1 patients. "CTF is a long-standing partner of Healx, and this investment underscores their confidence in the potential of Healx's neurofibromatosis program to bring novel treatments to patients with unmet need," stated Dr. Guilliams. "Healx is pleased to deepen its collaboration with CTF and remains dedicated to delivering much-needed therapies to this patient population," added Dr. Guilliams.

Dr. Annette Bakker, President of CTF, highlighted the importance of patient-centric research and the foundation's role in supporting innovative approaches to drug discovery. "We operate as a strategic partner to drug discovery and development pioneers such as Healx," remarked Dr. Bakker. 

"Our commitment reflects our belief in the potential of AI-driven research to transform the lives of NF patients, and we hope to inspire further investment in organizations dedicated to advancing treatments for rare diseases," added Dr. Bakker.

The investment agreement between Healx and CTF signifies a significant milestone in the pursuit of novel therapies for NF1 and underscores the importance of collaboration in addressing unmet medical needs in rare disease communities. As HLX-1502 progresses through clinical development, both organizations remain steadfast in their mission to improve outcomes and quality of life for NF patients worldwide.