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Neomorph Pulls $109 Million

San Diego-based Neomorph, a company focused on novel drug development for hard-to-treat diseases, has raised $109 million in a Series A round.
The round was led by Deerfield Management Co., who also participated in the company s seed round. Founded in 2020, the company recently opened a research facility in Sorrento Mesa.
Neomorph’s founders are responsible for several fundamental scientific developments in the “molecular glue” field. Molecular glues are types of molecules that encourage proteins to come together that normally would not interact.
We believe there continues to be a significant opportunity in protein degradation, in particular as it relates to the glue space, said Cameron Wheeler, partner at Deerfield Management. Neomorph is in an exceptional position and couldn t have a more seasoned and knowledgeable team in place to interrogate and advance drug targets. The company s success could potentially lead to life-altering therapies. ....

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Biotech Neomorph lands $109 million to hunt down disease causing proteins

San Diego biotech Neomorph, which is developing a protein degradation-based platform to enable novel drug development for hard-to-treat diseases, has raised $109 million in a Series A round of venture capital funding.
The startup, launched early this year with seed money from Deerfield Management Co., has opened a research facility in Sorrento Mesa. Deerfield also provided this latest Series A funding.
The investment firm has a longstanding partnership with the Dana-Farber Cancer Institute in Cambridge, Mass. Neomorph is expected to collaborate with the Center for Protein Degradation at Dana-Farber.
Targeted protein degradation has received “an explosion of interest” in drug development circles because of its potential to “reprogram the cellular machinery to destroy proteins that cause disease,” said Philip Chamberlain, co-founder, president and chief scientific officer of Neomorph. ....

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