Bionaut Labs, a company that makes micro-robotics used in the treatment of central nervous system diseases, has raised $43 million in series B financing.
Bionaut's robots work to deliver drugs at deep levels in the midbrain. The company will use this financing to advance its clinical trials of treatment programs for malignant glioma brain tumors and Dandy-Walker Syndrome, according to a Nov. 28 Bionaut news release.
Khosla Ventures led the financing round that brought Bionaut's total capital raised to $63.2 million.
"There has been a dearth of innovation around treatments for conditions that cause tremendous suffering, in large part because past failures have discouraged even the best of researchers," Bionaut co-founder and CEO Michael Shpigelmacher said. "Bionaut Labs remains committed to finding new ways to treat these devastating diseases, which are long overdue for a breakthrough."