RARE Daily

MOMA Therapeutics Raises $150 Million to Advance Precision Oncology Programs

May 10, 2022

MOMA Therapeutics, a biotech company focused on the next generation of precision medicines by targeting molecular machines that underlie human disease, raised $150 million in a series B financing.

Photo: Asit Parikh, CEO of MOMA

Goldman Sachs Asset Management led the round, with participation from other new investors Section 32, Pavilion Capital, Invus, and LifeSci Venture Partners. All of MOMA’s series A investors, including Third Rock Ventures, Nextech Invest, Cormorant Asset Management, Casdin Capital, Rock Springs Capital, Creacion Ventures, Alexandria Venture Investments, and other undisclosed investors, participated in the round.

“Since our launch in 2020, MOMA has advanced our novel drug discovery platform, generated multiple high-impact oncology programs and bolstered our exceptional team. Through these achievements we are developing an explicit understanding of the dynamic conformational changes of molecular machines, a class of enzymes which have historically proven very tough to drug,” said Asit Parikh, CEO of MOMA. “This series B gives us runway to move our precision medicines toward the clinic for patients in need.”

MOMA’s drug discovery platform exploits a key vulnerability inherent to all enzymes in the molecular machine class: their dependence on well-coordinated, stepwise changes in conformation. There are over 400 proteins in the molecular machine family, and they govern diverse processes within cells—DNA replication and repair, biomolecular transport and protein homeostasis to name a few. Their enzymatic output depends on the machines cycling through a series of ordered and large-scale conformational changes.

By focusing this platform on disease-causing proteins, MOMA aims to develop precision medicines for patients with significant unmet medical needs. Proceeds from the financing will be used to further develop product opportunities and advance a rich pipeline of precision oncology programs.

In conjunction with the financing, MOMA has appointed Amit Sinha, head of life sciences investing within Goldman Sachs Asset Management, to its board of directors.

Author: Rare Daily Staff

Stay Connected

Sign up for updates straight to your inbox.