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Healx is set to launch Phase 2 clinical trials for a new drug in the U.S. later this year .
The company says it has received regulatory clearance to start Phase 2 trials for Neurofibromatosis Type 1 ( NF1 ), a genetic disorder that causes tumor growth on human nerves.
Healx pitches itself as a “drug discovery pipeline” that identifies hidden connections between chemical compounds and rare diseases.
Healx has raised $9 million less than its $68 million Series B round five years ago .
The company recently announced an investment from one of its long-term partners called the Children’s Tumor Foundation .
The CTF will provide “milestone-driven payments” to Healx as it works toward clinical trials.
Healx is set to start clinical trials in the U.S. in December .
The company is now looking to expand on the ground in the United States .
Its Series C round included participation from Ayana Capital , Balderton, Btov, Global Brain and Jonathan Milner .
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