BOSTON , February 3, 2022 – Dewpoint Therapeutics Inc., the biomolecular condensates company, today announced the completion of a $150 million Series C financing.
The funding round was led by SoftBank Vision Fund 2, along with other new investors General Catalyst, Mubadala Capital, 3E Bioventures Capital, Mirae Asset Capital, and NS Investment. Also joining the round were 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 over 20 pipeline programs in discovery and development spanning oncology, neuromuscular, cardiopulmonary, and virology indications.
“We are delighted to have achieved this significant milestone, which allows us to welcome several high-calibre tech and biotech investors to our existing syndicate of innovative life-science investors,” said Ameet Nathwani, Dewpoint Chief Executive Officer. “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.”
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 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. We are thrilled to partner with the Dewpoint team to help realize condensates’ transformative potential for drug discovery.”
“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,” said Dr. Juergen Eckhardt, Head of Leaps by Bayer. “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.”
About Dewpoint Therapeutics
Dewpoint Therapeutics is the first company to apply the emerging understanding of biomolecular condensates to drug discovery. Dewpoint believes that a vast range of conditions have pathways that are regulated by condensates or arise from the dysfunction of condensates, with programs spanning oncology, neuromuscular, cardiopulmonary, and virology indications.
Dewpoint scientists work in Boston, Dresden, and Berlin to translate condensate biology into treatments for the toughest diseases.
Scientists or investors interested in biomolecular condensates can also visit condensates.com for news and updates in the field.