Congruence Closes Series A Financing at $65 Million for Rare Disease of Protein Misfolding
March 9, 2023
Rare Daily Staff
Congruence Therapeutics said it closed an extension to its series A financing, bringing the total amount raised to more than $65 million.
In February 2022, Congruence announced the close of its Series A financing of US$50 million. New investor BDC Capital’s Thrive Venture Fund led the extension, with participation from current investors Amplitude Ventures, Fonds de solidarité FTQ, OrbiMed, Investissement Quebec, SilverArc, and others.
“This financing provides further evidence of the emerging role that technology must play to drive innovation in biotechnology,” said Clarissa Desjardins, CEO of Congruence. “These additional proceeds will allow us to accelerate our pace, advancing our Revenir platform and our pipeline of first-in-class and best-in-class programs for devastating genetic, rare and neurological diseases toward the clinic.”
Congruence combines computational and experimental drug discovery to design novel small molecules for diseases of protein misfolding. The cornerstone of the Congruence strategy is its proprietary computational platform, Revenir, a tool for the rational design of stabilizers that circumvents the target validation, protein purification, high throughput screening and hit triage stages.
This technology uses mathematical modeling, physics, and machine learning to characterize the biophysical defects of misfolded proteins that cause disease, then designs compounds to rescue the mutated proteins by correcting these defects in silico.
Congruence is currently using Revenir in indications with high unmet medical need. At the same time, the company is building a proprietary database containing the biophysical properties of mutant proteins, which can be used to develop stabilizers for diseases caused by protein families outside of the Congruence’s current focus.
Photo: Clarissa Desjardins, CEO of Congruence
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