Magnetic Ventures

As we reflect on the technical advances that enable our portfolio companies to make key discoveries in 2024, we are sharing an excellent overview of the rapidly evolving landscape of single-cell and spatial omics technologies in the context of drug development by Jake P. Taylor-King and colleagues at Relation. The team evaluates next-generation sequencing and image-based spatial transcriptomics approaches and highlights the emerging technical advances that can expand the scope of data generation to discover and validate novel drug mechanisms. #omics #nextgensequencing #data #techbio https://lnkd.in/dxFVtqF3

It has been an amazing two days for AI! Computational protein design and AI protein structure prediction have earned three scientists the 2024 Nobel Prize in Chemistry. Congratulations to David Baker from University of Washington of Washington for completing “the almost impossible feat of building entirely new kinds of proteins,” and Demis Hassabis and John Jumper from Google DeepMind who developed AlphaFold, AI models to predict proteins' complex structure - a problem that has remained unsolved for 50 years. Scientists across the world can now predict protein structures in minutes, which used to take years of trial and error. These AI advancements are pivotal for medicine because proteins play crucial roles in almost all biological processes. Understanding protein structures allows researchers to understand how proteins malfunction in diseases such as cancer or Alzheimer's, and will accelerate drug discovery, enable the creation of new vaccines, and lead to new treatments for diseases. Magnetic Ventures' founding investment thesis was that the future of healthcare is technology driven, with machine learning and AI being the driving force. This Nobel Prize further reinforces the power and potential of AI to have an enormous and unprecedented impact on medicine. We could not be more optimistic about the future and extend our heartfelt congratulations to the scientists and applaud the Committee for this recognition. #NobelPrize #AI #Biotechnology #Healthcare #Innovation #alphafold #Biochemistry #healthcareInnovation 

Congratulations to Magnetic Ventures portfolio company Paradigm on its continued international expansion into Israel and its strategic partnership with Sheba Medical Center, Israel’s largest hospital and a global leader in clinical trials and medical innovation, and ARC Innovation, the innovation arm of Sheba. Israel is known for its sophisticated tech-enabled healthcare system, its innovation-oriented culture, and is a global leader in clinical trials in oncology and other serious illnesses. And, as the largest hospital in Israel, Sheba Medical Center is a much sought after site for biopharma companies. By leveraging the state-of-the-art Paradigm platform, Sheba and ARC will significantly increase trial capacity in Sheba’s main campus as well as its affiliated clinics across Israel. Patients will have access to more options for advanced care closer to home while providers benefit from reduced burden of study operations. This is another significant milestone in Paradigm's march towards creating a more equitable and efficient clinical trial ecosystem in the US and more broadly and comes on the heals of their partnerships with Florida Cancer Specialist and Fujitsu. This collaboration will expand the availability of, and patient access to, clinical trials that may be care options for patients with cancer and other serious diseases throughout Israel. For Paradigm's global biopharmaceutical partners, this means that their ability to seamlessly conduct oncology phase 1-3 therapeutic trials and create global efficiencies is rapidly reaching new heights. We are thrilled to support Paradigm in their mission to speed up drug development and increase patient access to clinical trials globally. Kent Thoelke 🏳️🌈 Jonathan Hirsch #clinicaltrials #healthtech #acceleratingdrugdevelopment #healthequity #patientcare #innovation  https://lnkd.in/enaTjx9j

Magnetic Ventures portfolio company Paradigm mission is to enable equitable access to clinical trials for all patients, while enhancing trial efficiency and reducing the barriers to participation for healthcare providers. We're proud to celebrate the success of Paradigm's partnership with Highlands Oncology. Through their collaboration, they have achieved a remarkable 45% increase in the number of patients enrolled in clinical trials over the past two years. Highlands Oncology is the leading community-based cancer center in northwest Arkansas, providing comprehensive care for nearly 30 years. By working with Paradigm, they have been able to expand access to clinical trials for their diverse patient population, including a high percentage of Hispanic/Latino patients who are often underrepresented in research. This collaboration is a testament to the power of innovation in overcoming geographical barriers and ensuring that every patient, no matter where they are, can access the best possible care, including advanced clinical trials. This partnership has enabled Highlands to evaluate new trial opportunities more efficiently, identify and screen eligible patients more systematically, and ultimately bring the most promising therapies to the patients who need them most - right in their own community. At Magnetic Ventures, we invest in companies that use technology to drive impactful change in healthcare. Paradigm’s work with Highlands Oncology is a shining example of this, and we’re proud to support  their mission to create more equitable access to life-saving therapies. #HealthcareInnovation #ClinicalTrials #CancerCare #HealthEquity #healthtech #patients Read more here: https://lnkd.in/e3HnNDqn

Magnetic recently co-led the Seed financing of Weave Bio. Weave is a testament to the power of Generative AI and its ability to accelerate the delivery of new therapies to patients by streamlining the regulatory process. Read More: https://lnkd.in/edhKiMgK

Magnetic Ventures co-lead with Innovation Endeavors the $10M Seed financing for Weave Bio co-founded by Umut Eser, Venture Partner with Magnetic. There are many processes in pharma and biotech which are currently inefficient - Weave is a generative AI company which is focused on improving these inefficiencies, starting with regulatory. Weave's flagship product, AutoIND, revolutionizes the process of generating Investigational New Drug applications (INDs) by speeding up and streamlining these applications by orders of magnitude faster than traditional methods. Generative AI is integrated into every part of AutoIND. Weave is tackling a problem, which impacts every single therapeutics company, regardless of size, stage, modality, or disease area. By leveraging generative AI, Weave is poised to dramatically accelerate regulatory filings, and help revolutionize the drug development landscape, which will help life-saving therapies reach patients faster. Magnetic’s founding investment thesis was that technology tools will impact every part of the healthcare ecosystem. We have invested across this ecosystem in companies spanning the spectrum, from drug discovery to clinical trials and manufacturing. We spend a great deal of time thinking about industry pain points and Weave is a strong example of the power of deep technology and its ability to dramatically accelerate our ability to deliver new therapies to patients. Congratulations to Umut, Ari Caroline and the entire Weave team. #deeptech #generativeAI #AI #healthcareinnovation #patients

Congratulations to Magnetic portfolio company SameSky Health on their merger with GroundGame.Health. This merged entity will accelerate the company’s shared mission to improve health and advance health equity by closing the loop around Socially Determinants of Health and gaps in care for underserved patients. Together, they will now extend reach across all 50 states, leveraging SameSky’s culturally-tailored outreach and GroundGame’s innovative platform that connects Community-Based Organizations with health plans. Following the merger the company also announced $17 million in new funding from 7wireVentures and Elevance Health. Magnetic invested in SameSky in 2021 because the gaps in care were obvious and stunning. We knew a solution was needed to drive more equitable care and that the solution must be technology-based. Since our investment the company has developed a sophisticated and robust technology stack, which includes interactive voice response modality that applies Conversational AI to increase the intelligence and personalization of voice phone interactions, enhancing patient’s experiences.  We look forward to seeing the transformative impacts of this combined entity with a goal of dramatically improving care for all. Congratulations to Same Sky Founder Abner Mason and the SameSky team. #HealthcareInnovation #SocialDeterminantsOfHealth #HealthEquity #MergersAndAcquisitions #MagneticVentures

Magnetic continues to lean into Relation due to our strong belief in the power of their pioneering platform, which seamlessly integrates the most advanced ML with single-cell analysis and genomics, and our confidence in the team. This new funding was led by DCVC with co-lead NVIDIA’s NVentures, and includes new investors ARK Investment Management LLC and Deerfield Management and existing investors. We couldn't be more excited about their future! #AI #aidrugdiscovery #deeptech #techbio #ML #seedcapital #biotech #biotechinnovation #drugdiscovery 

We are delighted to continue to work with Jason Pontin and Zachary Bogue DCVC, to welcome new investor NVIDIA, and to collectively support Relation as they continue to build a powerful company combining the power of ML with rapid, iterative lab experiments to accelerate drug discovery and bring treatments to patients faster. #techbio #AI #ML #omics #techinnovation #healthinnovation #seedfinancing 

Well said, Benjamin. Relation walks swiftly and with purpose, and we at Magnetic could not be more delighted to be a partner to you as you continue to build a company with purpose and passion.