The preclinical start-up is identifying allosteric binders that can inhibit or activate metabolic proteins. Atavistik will focus on genetically defined diseases then test its candidates in broader populations.

Emerging Company Profile: With an early focus on rare, monogenic diseases, Recursion believes its platform combining artificial intelligence and experimental biology can be applied to any disease that can be modeled on a cellular level.

Genentech partners with the Seattle biotech on a non-opioid approach to chronic pain. Kineta says there's disease-modifying potential.

Early-stage venture capital funding continues to decline, but corporate VC dollars and other sources of cash are emerging to fund startups. Also, biopharma companies raised $436.3m in 15 recent financings.