The Stockholm-based healthtech company Neko Health has successfully raised $700 million in a Series C funding round. The company's mission is to create a new healthcare system focused on early disease detection and disease prevention. The firm was founded by Daniel Ek, co-founder of Spotify.
The Neko Health project is based on futuristic 60-minute scanning. Imagine a modern, relaxing clinic where a body scan takes about an hour, is completely safe, and does not use radiation. The cost of such a scan is £299 in the UK and 2750 Swedish Kronor in Sweden.
Neko's scanning is possible through the use of specially designed sensors and rapid blood analysis. This procedure allows for an assessment of the cardiovascular, metabolic, and skin systems. It meticulously examines moles, detects signs of prediabetes, and identifies stroke risk factors. In just minutes, the user receives a detailed digital map of their body and can then discuss the results with a doctor in person, eliminating the stressful wait of the traditional medical system. Over 100,000 people have already used this service.
Unlike many other medical companies, Neko develops all components of its technological base internally. The company manufactures its own hardware and software in Sweden. Last month, Neko unveiled its latest clinical devices: Derma-2, Echo-2, and Spectrum-2. These modernized devices are capable of capturing a significantly larger volume of biological signals from the skin, heart, and circulatory system. Furthermore, they have added real-time body composition analysis and the ability for clinicians to view data from wearable devices, deepening the continuous picture of the user's health. Thanks to this internal focus, the team can automate processes and quickly implement updates across all clinics.
The $700 million raised by Neko did not come only from venture capital. The startup received investments from tech giants such as Mark Zuckerberg and Priscilla Chan, as well as celebrities including Maria Sharapova, Thierry Henry, will.i.am, and Tim Ferriss. The round was also supported by Hollywood heavyweights Ari Emanuel and music director Jimmy Iovine. Investors are highly interested because Neko is at the intersection of artificial intelligence and is preparing to enter the US market after successfully validating its model in Sweden and London.
Neko plans to open its first clinics in the US in New York later this year. The company has already received FDA approval for several key products. Ek, who previously left his position as CEO of Spotify, is applying his experience in international music expansion to the healthcare sector. He acknowledged that the transition from Sweden to the UK was challenging, but facing the complex US healthcare landscape will be ten times harder. Nevertheless, there is a queue of over 350,000 people, which underscores the obvious need for the services. The platform demonstrates measurable results: early detection has led to real improvements in condition, with three out of four regular clients being able to keep identified issues under control.
FORE Biotherapeutics has successfully raised $67.4 million to support the development of its lead targeted anti-cancer drug, plaxiorafenib. This funding round was co-led by SR One, Medicxi, and SymBiosis, and also attracted new investors, including TaiAx, LG Technology Ventures, Primer Ventures, and Axil.
Previously invested companies such as OrbiMed Advisors, HBM Healthcare Investments, Wellington Management, Cormorant Capital, Novartis Venture Fund, Windham Life Science Partners, Samsung, and 3B Capital also participated in the deal. Thanks to this new round, the total capital raised in Series D-2 reached $110 million. The Philadelphia-based firm focuses on developing targeted treatments for patients with types of cancer that are often difficult to treat.
President and CEO William Hinshaw stated that the additional funds will allow the company to successfully pass key clinical and regulatory milestones over the next few years to advance plaxiorafenib to more advanced stages of development. The funds are planned to be directed towards continuing the late-stage development of plaxiorafenib, also known as FORE8394.
The company has completed patient enrollment in the global FORTE study, which covers recurrent or progressive central nervous system tumors with the BRAF V600E mutation. Preliminary results from this study are expected by the end of 2026, and if favorable, the company aims to file for accelerated approval with the FDA in 2027. Previously, the FDA granted plaxiorafenib Breakthrough Therapy designation in April 2026.
The therapy is being evaluated in patients with BRAF-altered tumors, including certain types of brain and spinal cord cancer. Furthermore, the company continues to develop monotherapies in additional indications, targeting rare solid tumors with the BRAF V600 mutation and common solid tumors with BRAF fusions. The FORTE study is a global Phase 2 trial designed to evaluate plaxiorafenib in various patient groups. The company recently received approval to include patients aged eight and older in the study, expanding access for children and young adults with specific BRAF-altered CNS tumors. The dosing regimen was also updated to allow plaxiorafenib to be taken with food, eliminating the need for an additional pharmacokinetic boost previously used in the trial. According to the company, drug-related discontinuation remained below 2% across all tumor types.
Earlier studies have demonstrated encouraging activity of the drug. In a Phase 1/2 study with patients having recurrent primary CNS tumors with BRAF V600 who had not previously received MAPK inhibitors, plaxiorafenib showed significant response rates and a favorable safety profile. FORE Biotherapeutics positions plaxiorafenib as a next-generation BRAF inhibitor designed to address limitations associated with earlier treatment methods. The company asserts that its approach can reduce recurrence rates and decrease the need for combination therapies used with older BRAF drugs. This deal reflects sustained interest in the growing market of precision oncology—treatments tailored to individuals with specific genetic mutations. BRAF mutations occur in several types of cancer and remain a focus for drug manufacturers.
