AI-based drug developer Basecamp valued at $800 million after $140 million funding round

Basecamp Research said on Wednesday it has raised $140 million in a Series C funding round that valued the AI-based drug developer at $800 million.

The oversubscribed round was led by S32, with participation from Nvidia, Anthropic's Anthology Fund, Catalio Capital Management, the NATO Innovation Fund, the Rockefeller Foundation and Singular, among other investors.

Basecamp raised $60 million in its Series B round in October 2024, led by Singular.


The company said it would use the latest funding to train a new generation of its EDEN biological foundation models and move a pipeline of AI-designed therapies toward clinical development.

The London-based company will initially focus on therapies that reprogram patients' cells inside the body.

The company said its EDEN technology could make cell therapies more customizable and easier to administer for cancer and autoimmune diseases, compared to current treatments that it said cost "hundreds of thousands of dollars per patient".

Basecamp added it had demonstrated strong preclinical results across several types of therapies and diseases, but did not provide a timeline for starting clinical trials.

EDEN is trained on Basecamp's proprietary genomic dataset, assembled through partnerships in more than 30 countries, and can generate potential drug candidates based on information about a disease, the company said.

The company also appointed former Biogen executive Richard Pearce as chief business officer to expand its pharmaceutical partnerships.