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Business Roundup

September 16, 2023 | A version of this story appeared in Volume 101, Issue 31


Ambient Photonics, a US developer of low-level-light photovoltaics based on dye-sensitized solar cells, has raised $30 million in series A funding. Ambient says it will use the money to expand its manufacturing capability.

Spiritus has emerged from stealth with $11 million in backing for its approach to direct air capture of carbon dioxide. The funding was led by Khosla Ventures. Spiritus says its process uses half the energy of incumbent technologies.

DetraPel has closed a $7.6 million series A funding round led by Material Impact. The firm is developing PFAS-free coatings for paper, textiles, and biomedical devices.

Kuano, an artificial intelligence–enabled drug discovery firm, has closed a $1.8 million seed funding round. Proceeds will go to developing the company’s quantum simulation technology for designing drug candidates that target enzymes.

Sion Power, a battery technology developer, has entered a multiyear agreement with Citrine Informatics, an artificial intelligence–enabled materials development firm. The partnership will focus on digitalization of R&D at Sion.

Kriya Therapeutics has acquired Tramontane Therapeutics, a Barcelona-based gene therapy company focused on developing treatments for metabolic and neurodegenerative diseases. Kriya is now launching a program for nonalcoholic steatohepatitis.

Novo Nordisk is starting a research alliance with the Broad Institute of MIT and Harvard. Scientists from the two organizations will identify targets for treating nonweight-mediated insulin resistance and loss of β-cell function in type 2 diabetes. A third program will address cardiac fibrosis.

Noetik, an artificial intelligence–based drug discovery company with a focus on cancer immunotherapy, has raised $14 million in seed funding. Noetik says the cash will fund its data generation efforts and the development of machine learning methods.



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