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Dewpoint Therapeutics raise $77m in Series B financing

A $77 Series B financing allows Dewpoint Therapeutics Inc to select a lead programme from its new drug class of molecular condensates and push proof-of-concept studies.

Dewpoint Therapeutics Inc, a spin-off from the German  Max Planck Institute of Molecular Cell Biology and Genetics, Dresden, and Whitehead Institute, Boston, kicked-off in January 2019 with a $60m Series A financing. The follow-on financing was led by Arch Venture Partners and co-financed by new investors Maverick Ventures and Bellco Capital along with existing investors Polaris Partners, Samsara Biocapital, 6 Dimensions Capital, EcoR1 Capital and the venture capital vehicle Leaps by Bayer.

Dewpoint Therapeutics pioneers a completely new approach to treat cancer or neurological conditions such as amyotrophic lateral sclerosis by targeting biomolecular condensates. Biomolecular condensates are like cell organelles without a cell membrane – they compartmentalise certain biochemical processes and the necessary macromolecules simply by phase transfer.

Company co-founders Anthony Hyman from the Dresden-based MPI of Molecular Cell Biology and Genetics and Richard Young from Whitehead Institute, MIT, have discovered that the previously underexplored activation domains of transcription factors are brought into proximity by phase transfer in aqueous cell compartments, thereby initiating and maintaining the transcription of specific genes. A handful of activation domains such as “mediator” or “p300” regulate the transcription of hundreds of different transcription factors. The researchers want to take advantage of this, in order to specifically influence the disturbed transcription in pathological processes – an approach that does not target the genetic level, but aims at correcting disturbed biological functions. Fields of application for addressing the molecular condensates with drugs are found in almost all important indications.

The company has partnerships with Merck in HIV and with Bayer in women’s health and cardiology.