Calcalist was first to publish that Israeli biotech startup 1E Therapeutics has raised $120 million in a seed fundraising round.
A deal of this size for an early-stage biotech company is exceedingly uncommon. 1E’s Seed funding is thought to be the largest of its kind for an Israeli startup in the field. Although little is known about 1E Therapeutics, it is thought to be involved in drug development.
Calcalist has also learned that serial entrepreneur Marius Nacht, one of Check Point’s co-founders and presently regarded as the most prominent Israeli investor engaged in the biotech and MedTech industries, is one of the company’s significant investors.
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1E Therapeutics was registered on July 11, 2021, according to the Israel Register of Companies. The company has rented offices and laboratories in the Rehovot Science Park, where it already employs dozens of researchers and is in the process of increasing its workforce.
The founder of the company is an Israeli scientist, Dr. Ido Bachelet, who is known for his contribution to the fields of DNA origami, synthetic biology, and biomimetics are among his specialties.
According to the company’s website: “1E Therapeutics is a breakthrough, drug development company creating first-in-class RNA-targeting therapeutics based on a proprietary drug design platform.”
Dr. Bachelet received his Ph.D. in medical sciences from Hebrew University in Jerusalem and completed two postdoctoral fellowships, one in engineering at M.I.T. and the other in biologically inspired engineering at Harvard University’s George Church lab.
He was a professor at Bar-Ilan University and the Bezalel Academy of the Arts and Design in Jerusalem, where he taught biological sciences and industrial design.
His bio-inspired architectural study was chosen to represent Israel at the 16th Venice Biennale of Architecture. Bachelet is a pianist and composer who composes piano music based on biological processes. Bachelet is the founder of various businesses, including Sight Diagnostics, a computer vision company.
1E says that its ground-breaking process has shown to be unrivaled in its ability to generate novel treatments for chronic life-threatening conditions as well as emerging and evolving infections. 1E already has lead drugs in development for oncology, age-related diseases, immunology, antimicrobial resistance, viral infections, and orphan neurological disorders, among other indications.”
1E Therapeutics’ current development plans are fully financed, and the company is currently hiring for positions in CMC, Research, Development, and Manufacturing.