Dewpoint Raises $150 Million to Advance Pipeline of Biomolecular Condensate Candidates
February 3, 2022
Dewpoint Therapeutics completed a $150 million series C financing to advance a pipeline that applies a growing understanding of biomolecular condensates to drug discovery, with programs spanning oncology, rare neuromuscular diseases, and cardiopulmonary and virology indications.
SoftBank Vision Fund 2, along with other new investors General Catalyst, Mubadala Capital, 3E Bioventures, Mirae Asset Capital, and NS Investment led the financing, with participation by existing investors Leaps by Bayer, Polaris Partners, Samsara BioCapital, ARCH Venture Partners, EcoR1 Capital, and Maverick Ventures.
Proceeds from the financing will be used to advance multiple pipeline programs through to IND and further invest in Dewpoint’s fully integrated, multi-component biology platform as well as its artificial intelligence-driven data science platform. Dewpoint will also expand research infrastructure to support the company’s growth with more than 20 pipeline programs in discovery and development.
“This latest financing will further accelerate our goal of developing breakthrough medicines to address a vast array of diseases resulting from dysregulation of biomolecular condensates,” said Ameet Nathwani, CEO of Dewpoint Therapeutics.
Condensates are membraneless organelles that form dynamically throughout the cell via a process called phase separation. Their behavior is governed by the concentrations of, and multivalent interactions between, proteins and nucleic acids. These subcellular compartments organize and concentrate molecules within cells enabling key biochemical processes and drive various diseases. Through understanding condensate biology, Dewpoint believes it has developed the ability to tackle the root cause of complex diseases and address previously undruggable targets.
Over several years, Dewpoint has invested in a digital discovery platform and state-of-the-art biological or “wet lab” methods of investigating condensate function and targeting. This includes the development of advanced AI and computer vision capabilities, proprietary data and small molecule libraries, a proprietary knowledge graph of condensates and their functional connection to disease pathology, and compounds that modulate their behavior. Such compounds are referred to by the company as c-mods, and target condensates to restore normal condensate properties and cellular function.
“Research into biomolecular condensates has unveiled whole new ways for how we can intervene and prevent life-threatening diseases,” said Vikas Parekh, managing partner at SoftBank Investment Advisers. “We believe that Dewpoint is a leader in this emerging sector with a highly-experienced management team and partnerships with some of the largest pharmaceutical companies in the world.”
These partnerships include a collaboration with Pfizer, valued at up to $239 million and struck one year ago, to develop treatments for myotonic dystrophy type 1 (DM1), a rare genetic disorder that leads to muscle loss and weakness, difficulty breathing, cataracts, heart conditions, intellectual disability, and early death.
Author: Rare Daily Staff
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