Owkin
FR>$1B
Biotech · 2021-11
Owkin is building MOSAIC, a $50m spatial-omics atlas of 7,000 tumour samples it says is a hundred times larger than any previous dataset of its kind, and its unicorn valuation still dates from Sanofi's 2021 cheque.
Science
The rest of this ledger records transactions. This part records results, which need a different rule.
Everywhere else, a figure cites the outlet that reported it. Here a claim cites its paper: the link goes to the preprint, the journal or the agency release rather than the coverage of it, because coverage is a weaker source than the thing it covers. A result whose only source is a science-news aggregator is left out. Failed replications, retractions and disputed claims are in; a record that carries only triumphs is a worse record.
Latest results
216 items
Jul 24
Four distinct subpopulations of merging black holes fall out of the LIGO-Virgo-KAGRA fifth catalogue, with a low-mass group centred near 10 solar masses supplying about 70% of the merger rate and a percent-level high-mass tail carrying the large spins expected of hierarchical mergers.
Jul 15
Beta Pictoris d (at least twice Jupiter's mass, orbiting roughly 30 astronomical units out) is the first directly imaged planet found chiefly through moderate-resolution spectroscopy rather than coronagraphic imaging, using Webb's MIRI.
Aug 4
NASA's PUNCH constellation retro-forecast the arrival of the 31 May 2025 coronal mass ejection to within 30 minutes, eight hours ahead, about ten times tighter than the roughly five-hour error of coronagraph-based forecasting.
Jul 24
Venus's Ganis, Dali and Devana Chasmata have wide rift-flank uplifts that 3D thermomechanical models reproduce only at extension rates of 3-10 cm per year, implying those rifts are active now or were within the past few tens of millions of years.
Aug 5
A two-qubit entangling gate for dual-rail cavity erasure qubits ran in about 500 nanoseconds with roughly 0.5% erasure per gate, residual Pauli errors below 0.1%, and bit-flips down at the 10⁻⁶ level.
Aug 6
Sequencing of 115 ancient and 45 modern bison genomes spanning the past ~20,000 years found 67% of sampled American bison carry no detectable cattle ancestry, and that the 19th-century collapse fragmented herds without markedly draining genetic diversity.
Jul 30
The first ancient smallpox genomes from the Americas, recovered from two Inca-Colonial individuals in northern Chile and dated to roughly 1492 to 1631 CE, form a now-extinct lineage that diverged around 1296 CE, direct molecular evidence the disease arrived with European contact.
Jun 8
CRISPR-Cas12a2, repurposed from a bacterial self-destruct system, selectively killed mammalian cancer cells carrying mutations in otherwise undruggable genes such as TP53 by shredding their chromatin, including in mouse tumour models.
Jul 30
A multitissue atlas of lysosomal metabolites shows that lysosomes in aged brain, heart and muscle converge on a metabolite signature shared with inherited lysosomal storage disorders.
Jun 3
cis-eQTL mapping across 2.2 million single cells from intestinal biopsies and blood of 421 people, 125 of them with inflammatory bowel disease, nominated effector genes at more than half of known IBD risk loci and implicated reduced Notch signalling in myeloid cells.
Aug 6
Siberian growing-season methane emissions rose by 12.0 ± 1.9 teragrams (about 5% a year) between 2010 and 2023, and on current trends could offset roughly 20% of the global methane cuts needed for climate targets by 2050.
Jul 29
Sixty simulated years of ocean iron fertilisation remove only 1.1-5.3 ppm of atmospheric CO2, with more than half re-emitted within decades, and equatorial Pacific deployment expands oxygen-minimum zones and cuts macrozooplankton biomass far downstream of the fertilised patch.
Aug 6
Scrapping a fully working petrol car for a battery electric replacement cuts lifetime emissions across most scenarios (including for nearly new internal combustion vehicles) even though the economics stay prohibitive without scrappage subsidies.
Jul 30
Calcium isotope ratios in Cretaceous sediments tie the second-largest extinction in planktic foraminiferal history, at the Aptian-Albian boundary, to ocean acidification during Oceanic Anoxic Event 1b.
Jul 9
NOAA's Climate Prediction Center put the odds of a very strong El Niño during October to December at 81%, with a 97% chance the event persists into early spring 2027 and the Niño-1+2 index already at +2.7 °C.
Aug 6
Heavily doped, highly compensated scandium nitride films reached a Seebeck coefficient beyond −124 millivolts per kelvin near room temperature, far past the few millivolts per kelvin that conventional transport theory allows in a crystalline material.
Jul 29
A single organic catalyst drove alternating copolymerisation of CO2 with bicycloalkanes into high-performance polyesters that can be selectively depolymerised back to monomer for closed-loop recycling.
Jul 30
Appel halogenation now works for fluorine: bench-stable neopentoxyphosphonium reagents let alcohols be converted to alkyl fluorides catalytically with cheap potassium fluoride, sidestepping the difluorophosphorane trap that had blocked the reaction.
Plasma-etched perovskite surfaces produced small-area cells at 27.2% power conversion efficiency and 100-square-centimetre modules at 24.0%, targeting the interfacial defects that drive perovskite degradation.
Aug 6
The garden snail Cepaea nemoralis makes five different mucus materials (lubricating, adhesive, protective) from one collagen VI backbone, tuning them by how much amorphous calcium carbonate it adds during secretion.
Who is doing it
52 organisations across 9 fields. For most of them the number that matters is not the valuation. It is the qubit count with its error rate, the trial phase, the plasma duration, the compounds actually synthesised rather than predicted.
52 of 52
Biotech11
bit.bio
GB~$225M
raised · Biotech
bit.bio cut around a quarter of its staff in 2025, wound down its own cell therapy programmes and raised a $50m Series C led by M&G in January 2026 as a supplier of defined human cells rather than a drug developer.
BioNTech
DE€223.7M (H1 2026)
Biotech · 2026-06
BioNTech has 14 pivotal oncology trials running and €16.6bn in the bank, and made €105.6m of revenue in the second quarter of 2026, a company living entirely off the Covid windfall while it tries to become a cancer business.
>$142M
raised · Biotech
EvolutionaryScale used ESM3, trained on 2.78 billion proteins, to generate esmGFP: a fluorescent protein far enough from any natural one that the team estimated it would take 500 million years of evolution to arrive at, published in Science.
Aqemia
FR>$100M
raised · Biotech
Aqemia designs small molecules with a statistical-mechanics engine borrowed from quantum physics rather than a trained-on-known-drugs model, and Sanofi expanded their $140m collaboration in July 2026, but Aqemia has no molecule in a human trial.
Cradle
NL>$100M
raised · Biotech
Cradle sells protein engineering as software rather than a drug pipeline, and says customer programmes run 1.2 to 12 times faster with costs down as much as 90%, its own measurement, taken across partner labs.
$50M
raised · Biotech
Latent Labs shipped Latent-X five months after coming out of stealth with $50m: an all-atom protein binder model its founder says reaches 91-100% laboratory hit rates on macrocycles, against well under 1% for conventional screening.
$7.7M (Q2 2026)
Biotech · 2026-06
Recursion has been industrialising cell-image biology since 2013 and its most advanced medicine, REC-4881, is still a Phase 1b/2 in an orphan bowel condition whose registrational path it was only discussing with the FDA in 2026.
10B+ in BaseData
novel genes · Biotech · 2026
Basecamp Research has catalogued over 10 billion genes from more than a million species nobody had sequenced, and trained EDEN (a foundation model on 9.7 trillion biological tokens) that designed gene-insertion enzymes clearing over 90% of tumour cells in a dish.
CureVac
DE~$1.25B
acquisition value · Biotech · 2025-06
CureVac (the Tübingen company that pioneered mRNA as a medicine in 2000 and then lost the Covid vaccine race) was bought by BioNTech in an all-stock deal worth about $1.25bn and delisted from Nasdaq on 16 January 2026.
Nuclera
GBnot disclosed
Biotech
Nuclera built a benchtop machine that screens and prints purified proteins in about 24 hours, and extended its Series C to $87m in January 2026 to add full antibody expression and binding validation.
Fusion9
$15.5B
Fusion · 2026-06
Helion Energy ran its Polaris prototype at 150 million °C in January 2026, the first privately funded machine to do bulk deuterium-tritium fusion, and is building Orion in Malaga, Washington to sell Microsoft power from 2028.
$4B
raised · Fusion
Commonwealth Fusion Systems is finishing assembly of SPARC in Devens, Massachusetts, and says the machine will cross Q>1 in 2027, the first tokamak to get more energy out of the plasma than went into it.
€2.4B
Fusion · 2026-07
Proxima Fusion raised €411M in July 2026 at a €2.4bn valuation, making the Max Planck spin-out Europe's best-funded fusion company as it builds the model coil for a quasi-isodynamic stellarator.
€385M
raised · Fusion · 2025-03
Marvel Fusion has raised €385M in private and public money for a laser fast-ignition approach, and in July 2026 was picked with Focused Energy to lead the German government's Laser Fusion Hub.
$335M
raised · Fusion
Tokamak Energy's Demo4 magnet system hit 11.8 tesla in November 2025 (the first complete high-temperature superconducting magnet set to reach fusion-power-plant field strengths) and its ST40 tokamak then pushed to 1 MA of plasma current.
1.8 (FLARE concept, independently validated)
tritium breeding ratio · Fusion · 2026-02
First Light Fusion abandoned its own fusion power plant in March 2025, cancelling the Machine 4 ignition demonstrator to sell its pressure-amplifier targets to other inertial fusion companies instead.
160+ from over 20 nations
headcount · Fusion · 2026-05
Focused Energy raised a $240M Series A in May 2026 led by RWE (the largest fully secured Series A in fusion) to build the world's first laser fusion power plant on the site of RWE's decommissioned Biblis nuclear station.
Net facility gain targeted 2030
net facility gain · Fusion · 2026-07
Pacific Fusion is building the world's largest high-gain fusion facility in Albuquerque, designed to produce fusion bursts above 100 megajoules and reach net facility gain by 2030.
Da Vinci producing fusion power in 2031 (target)
first fusion power · Fusion · 2026-08
TAE Technologies agreed in December 2025 to merge with Trump Media and Technology Group in an all-stock deal valued at more than $6bn, and says its first commercial-scale plant, Da Vinci, will produce fusion power in 2031.
Quantum computing9
$7B
Quantum computing · 2025-09
PsiQuantum is building million-qubit photonic quantum computers in two purpose-built halls (Moreton Bay near Brisbane and Chicago's Illinois Quantum and Microelectronics Park) with its Omega chips fabricated on a standard GlobalFoundries line.
Pasqal
FR$2.0B pre-money (announced SPAC terms)
Quantum computing · 2026-03
Pasqal is going public on Nasdaq as PSQL through a $2.0bn business combination with Bleichroeder Acquisition Corp. II, with shareholders due to vote on 25 August 2026.
IonQ
US$80.1M (Q2 2026)
Quantum computing · 2026-06
IonQ booked $80.1M of revenue in Q2 2026, up 287% year on year, and closed its acquisition of SkyWater Technology in July to bring US semiconductor fabrication for its quantum chips in-house.
as few as 18 cat qubits per logical qubit (Helium)
physical qubits per logical qubit · Quantum computing · 2026-06
Alice & Bob unveiled its Helium system in June 2026, engineered to encode a logical qubit from as few as 18 cat qubits, an overhead an order of magnitude below the hundreds of physical qubits conventional architectures need.
54 (IQM Emerald)
qubits · Quantum computing · 2025-08
IQM Quantum Computers began trading on Nasdaq on 2 July 2026, the first European quantum computing company on a major US exchange, with a 54-qubit processor running at 99.5% median two-qubit gate fidelity.
500+ per three-inch die (packaging architecture)
qubits · Quantum computing · 2026-02
Oxford Quantum Circuits raised £260M in June 2026 (Europe's largest private quantum round) after demonstrating a wafer-scale packaging architecture that fits more than 500 superconducting qubits on a single three-inch die.
98 fully connected physical qubits (Helios)
qubits · Quantum computing · 2026
Quantinuum's Helios runs 98 fully connected trapped-ion qubits at 99.921% two-qubit gate fidelity (encoded down to 50 logical qubits) and the company listed on Nasdaq in June 2026 raising $1.68bn at $60 a share.
not disclosed
Quantum computing
Quantum Motion raised a $160M Series C in May 2026 to build quantum computers out of ordinary silicon transistors on a GlobalFoundries CMOS line, arguing the approach cuts cost and footprint 100-fold and energy use 1,000-fold.
256 physical qubits (Aquila, live on Amazon Braket)
qubits · Quantum computing · 2026-06
QuEra Computing has promised AWS a machine called Libra by 2028 with more than 256 error-corrected logical qubits at a 10⁻⁶ logical error rate, built from 10,000-15,000 physical neutral atoms.
Space7
ICEYE
FI€10B+
Space · 2026-06
ICEYE crossed €250m of revenue and €100m of EBITDA in 2025 and raised over €1bn in June 2026 at a valuation above €10bn, one of the few European space companies that is properly profitable.
~€800M
raised · Space · 2026-06
Isar Aerospace raised a €270m Series D in June 2026 alongside a 15-21 June launch window for Spectrum's second flight, which had still not flown by August after at least five scrubbed attempts.
$307.7M
Space · 2026-01
Planet Labs hit record annual revenue of $307.7m in the year to January 2026 and its first full year of positive free cash flow, with nine high-resolution Pelican satellites on orbit.
$200.3M (Q1 2026)
Space · 2026-03
Rocket Lab posted record quarterly revenue above $200m and a $2.2bn backlog in Q1 2026, and sold more launches in that one quarter than in all of 2025, while Neutron still has not flown.
$57M
raised · Space · 2023-09
Open Cosmos launched Posidonia, the first satellite of the Balearic Islands, in July 2026, and put the first two satellites of its own Ka-band constellation up on a Rocket Lab Electron in January.
D-Orbit
IT22 commercial ION missions
ion missions · Space · 2026-03
D-Orbit has flown 22 commercial ION Satellite Carrier missions, delivering 137 satellites and hosting 77 payloads, and closed a first $128m tranche of Series D in January 2026.
450+
headcount · Space · 2026
The Exploration Company lost its Mission Possible capsule before splashdown in June 2025 and is now in talks to raise $300m at more than $2bn, with Nyx's first flight not due until 2028.
Neurotechnology5
~$9B pre-money
Neurotechnology · 2025-06
Neuralink had 21 people enrolled with its N1 implant by January 2026, up from three at the end of 2024, with no serious device-related adverse events reported, and nothing it makes approved for sale anywhere.
Synchron
US$345M
raised · Neurotechnology
Synchron reaches the brain through a blood vessel instead of a craniotomy, has implanted ten people across trials in the US and Australia, and raised $200M in November 2025 to fund the pivotal study it still has to run.
$180M
raised · Neurotechnology
Precision Neuroscience has laid its 1,024-electrode Layer 7 array on the brains of almost 100 people: every one of them temporarily, during surgery they were already having, because its FDA clearance runs to 30 days.
$68M
raised · Neurotechnology
INBRAIN Neuroelectronics put the first graphene electrode array on a human brain in September 2024 and finished enrolling that study in April 2026: a safety and signal-quality trial run during tumour surgery, not a therapy.
1 long-term
patients implanted · Neurotechnology · 2026-06
Paradromics implanted its 421-electrode Connexus device in its first trial participant in June 2026, eleven years after it was founded and a year after an acute, minutes-long test that had already been reported as first-in-human.
Research institution4
CERN
CHCHF 1,232,149,900
latest fund · Research institution · 2026
CERN runs the Large Hadron Collider on CHF 1.23bn of member-state contributions for 2026, with about 2,500 staff serving more than 12,200 visiting scientists.
£132.5M
latest fund · Research institution · 2025
Wellcome Sanger Institute ran on £180.3m of income in the year to September 2025, 80% of it a single core grant from Wellcome, and spent £183.5m, a deficit of £3.1m.
EMBL
DE€358M
budget · Research institution · 2025
EMBL spent €358m in 2025 across six European sites and 1,990 full-time-equivalent staff, and its Hinxton institute co-runs the AlphaFold Database with Google DeepMind.
€2.2B
budget · Research institution · 2025
Max Planck Society spent slightly more than €2.2bn in 2025 across 85 institutes employing about 26,700 people, making it the largest basic-research organisation in Europe.
AI for science3
$1.3B
AI for science · 2025-09
Periodic Labs raised a $300M seed (one of the largest ever) to build AI scientists and the autonomous powder-synthesis labs they run, and has published no discovered material yet.
$550M
raised · AI for science · 2025-10
Lila Sciences has raised $550m to build "AI Science Factories" and claims hundreds of validated antibodies and a non-platinum-group hydrogen catalyst, none of it published in a peer-reviewed journal.
79.4% of conclusions accurate
kosmos accuracy · AI for science · 2025-11
FutureHouse is a philanthropically funded non-profit whose Robin agent picked ripasudil as a candidate for dry macular degeneration and got the wet-lab validation published in Nature in May 2026.
Longevity2
NewLimit
US$3.1B
Longevity · 2026-06
NewLimit raised $435M at a $3.1bn valuation in June 2026 on the strength of a preclinical liver candidate that made old human hepatocytes behave young in mice; its first human trial is planned for 2027.
$1.8B pre-money
Longevity · 2026-05
Retro Biosciences dosed the first humans with RTR242, an oral drug meant to restart autophagy, in December 2025: a Phase 1 safety study in Australia, and the only ageing-biology programme from the Altman-funded cohort to reach the clinic.
Materials2
$200M+
raised · Materials · 2025
Sublime Systems lost its $87m Department of Energy award to Trump-administration cancellations in June 2025, and nearly ten months of internal dispute had not reversed it.
not disclosed
Materials
Orbital Industries (formerly Orbital Materials) raised a $50m Series B led by Plural in May 2026 for a PFAS-free GPU cooling fluid, having pivoted from AI-discovered carbon capture to data-centre hardware.