The funds raised will advance several of Dewpoint’s programs to IND status with the FDA and enhance its multi-component biology platform and AI-driven data science platform.
Biomolecular condensates company Dewpoint Therapeutics has secured an additional $150 million following a successful Series C financing round.
The funds raised will go toward advancing several of Dewpoint’s programs to Investigational New Drug (IND) status with the U.S. Food and Drug Administration. They will also be used to enhance the company’s fully integrated, multi-component biology platform and artificial intelligence-driven data science platform.
The financing plans also include improving its research infrastructure and capabilities to carry the over 20 programs it has in discovery and development. These projects are spread out across various indications, such as neuromuscular, oncology, virology and cardiopulmonary.
“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. We are extremely grateful for the commitment of our existing investors and multiple pharmaceutical alliance partners in supporting the advancement of this cutting-edge field of drug discovery,” commented Ameet Nathwani, the chief executive officer of Dewpoint, in a press release.
Over the last years, Dewpoint has invested in a digital discovery platform and advanced “wet lab” methods of investigating condensates’ function and targeting mechanisms. Condensates are membraneless organelles that form in the cells through phase separation. They are created when certain types of nucleic acids and proteins interact.
When such compartments concentrate molecules in the cells, various diseases may be formed. By understanding how condensates operate, Dewpoint developed the ability to dive deep into the root of complex illnesses and address previously undruggable targets.
“These are exciting times for drug discovery and development, where breakthrough innovation is poised to drive a shift from treating symptoms to reversing the root cause of diseases. Dewpoint’s integration of novel biology with its AI-driven platform is charting a pathway to drive this paradigm shift. I’ve been impressed by the team’s ability to uncover new insights into the complex behavior of biomolecular condensates, and optimistic about the potential impact for patients,” noted Dr. Juergen Eckhardt, the head of Leads by Bayer, one of the companies that invested in the round.
The Series C was led by SoftBank Vision Fund 2 along with new investors such as 3E Bioventures, General Catalyst, Mubadala Capital, NS Investment and Mirae Asset Capital. The other investors were Leaps, Polaris Partners, ARCH Venture Partners, EcoR1 Capital, Samsara BioCapital and Maverick Ventures.
Dewpoint’s laboratories are located in Boston, Berlin and Dresden.
