By Colin Kellaher

Healx, a U.K.-based startup using artificial intelligence to develop treatments for rare diseases, on Wednesday said it raised $56 million in a Series B financing round at an undisclosed valuation.

Skype founder Niklas Zennstrom's venture-capital firm Atomico led the round, which brought Healx's total funding to $70 million.

New investors Intel Capital, Global Brain and btov Partners also participated, Healx said, as did all of its previous investors, including Balderton Capital, Amadeus Capital Partners and Jonathan Milner.

Healx said it will use the financing to build a clinical-stage portfolio for rare diseases, including treatments for fragile X syndrome, the leading genetic cause of autism.

The company also will use the funds to launch its global "Rare Treatment Accelerator" program, which aims to work with patients groups to discover new treatments and move them toward the clinic within two years.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

October 16, 2019 13:03 ET (17:03 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.
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