Noetik to Accelerate AI-Driven Cancer Therapeutics with New Capital

Noetik has completed an oversubscribed $40 million Series A financing round to expand its use of artificial intelligence (AI) in developing cancer treatments. This round was led by Polaris Partners, with participation from Khosla Ventures, Wittington Ventures, and Breakout Ventures.

Noetik’s business model is built around the idea that AI can not only accelerate drug discovery but also improve accuracy by integrating various types of biological data—such as genomic, transcriptomic, and proteomic—into a unified platform. This approach aims to tackle one of the major inefficiencies in drug development: the high failure rate in clinical trials. By using machine learning to analyze vast amounts of patient data, Noetik seeks to identify biomarkers and drug targets that are more likely to succeed in trials, thus reducing both the time and cost required to bring new cancer therapies to market.

The new funding will enable Noetik to expand its extensive cancer research database—an atlas of human cancer biology that organizes complex data about how cancer cells behave and interact within tissues. This database, one of the largest of its kind, utilizes advanced spatial omics techniques to study cancer at a granular level. The company’s use of spatial data—a type of high-resolution biological data that maps how cells and molecules are organized within tissues—enables it to create a more detailed picture of how cancer develops and spreads.

Additionally, the new capital will allow Noetik to enhance its CRISPR-based platform, Perturb-Map, which rapidly tests how different genetic modifications affect cancer cells. This platform helps identify potential new treatment approaches, understand why certain cancers are more aggressive, and develop therapies that are more personalized to each patient’s specific cancer type.

Noetik was founded in 2022 and is headquartered in South San Francisco, California. The company raised $8 million in its first seed round in August 2022, followed by a second seed round of $14 million in September 2023​.

“We are thrilled to have the support of incredible investors who share our vision of combining deep patient data and artificial intelligence to build the future of cancer therapeutics. This significant financing will enable us to accelerate our progress toward turning biological insights into a portfolio of therapeutic candidates,” said Dr. Ron Alfa, the CEO and co-founder of Noetik.

The precision oncology market is projected to grow significantly in the coming years, driven by advances in AI, genomic research, and personalized medicine. According to a report by MarketsandMarkets, the global precision medicine market is expected to reach $126 billion by 2026, up from $73 billion in 2021, growing at a compound annual growth rate (CAGR) of 11.5%. AI-driven platforms like Noetik’s are seen as crucial in this growth, as they offer the potential to uncover novel therapeutic approaches that can target specific patient populations more effectively than traditional therapies.

Polaris Partners, a venture capital firm with a long history of investing in life sciences companies, led the Series A round. Amy Schulman, managing partner at Polaris, will join Noetik’s board of directors as part of the investment.

“We are excited to partner with Noetik and support their mission to build a pipeline of potentially transformative cancer programs,” said Ms. Schulman. “We have been investing in the most innovative life science technologies for decades and are excited about the potential of AI. Noetik impressed us with the sophistication of their platform and the team’s dedication to making an impact for patients.”

The round also saw participation from several new investors, including Khosla Ventures, Wittington Ventures, and Breakout Ventures, along with existing backers like DCVC, Zetta Venture Partners, Catalio Capital Management, 11.2 Capital, Epic Ventures, Intermountain Ventures, and North South Ventures. AI-focused funds ApSTAT Technologies, Linearis Labs, and Ventures Fund also participated, with notable support from AI expert Yoshua Bengio, metabolomic expert David Wishart, and Jean-Francois Gagne, co-founder of Element AI.

“We are thrilled to continue backing Noetik. The team’s speed of execution in building one of the most sophisticated AI-enabled oncology discovery engines in less than two years is unprecedented, and their deep experience and demonstrable progress have only strengthened our conviction,” said James Hardiman, a general partner at DCVC, one of Noetik’s early investors.

Polaris Partners, headquartered in Boston, focuses on life sciences, healthcare, and technology investments, often in early-stage and growth-stage companies. Their most recent fund was raised in 2021.

Khosla Ventures, based in Menlo Park, California, invests across various stages but focuses particularly on AI, deep tech, and healthcare innovation. Their most recent fund, Khosla Ventures Fund VII LP, closed at $1.4 billion in 2022. 

Breakout Ventures, headquartered in San Francisco, targets startups at the intersection of biology and technology. It typically invests in early-stage companies driving innovation in life sciences.