Eleven Therapeutics raises $22 million, including from the Bill & Melinda Gates Foundation
Biotechnology company Eleven Therapeutics has raised $22 million in a Seed round, Calcalist has learned. Among the investors is the Bill & Melinda Gates Foundation, which committed $9 million in funding to Eleven, including $5 million towards future equity investment supporting the development of a first-of-its-kind platform that designs small interfering RNAs (siRNAs) with ultra-long durability by utilising combinatorial chemistry and AI.
The additional $4 million was awarded as a non-dilutive grant furthering Eleven’s development of prophylactics against endemic and pandemic-poised respiratory viruses. The Gates Foundation’s funding will promote wide accessibility of Eleven’s ultimate treatments to people in need in developing countries. In addition, the company has a Cooperative Research and Development Agreement (CRADA) with the Vaccine Research Centre of the NIAID. Additional investors in the round include Gigi Levy’s NFX Bio, Entrée Capital; Harel Technology Investments and others.Read Article