San Diego startup Neomorph on Monday announced a new $100 million investment for its molecular glue that tricks cancer cells into self-destructing.<\/p>\n
Even as it awaits results from its first clinical trial, investors are interested. In the past three months, Neomorph has raised $200 million.<\/p>\n
While other oncology treatments, such as chemotherapy, indiscriminately damage cells, Neomorph\u2019s glue, NEO-811, redirects the body to dispose of harmful proteins by labeling them as \u201ctrash,\u201d so enzymes will discard them.<\/p>\n
This clinical trial is targeting clear cell renal cell carcinoma, the most common kind of kidney cancer. However, the company says this approach could potentially be applicable across oncology.<\/p>\n
Since its founding in 2020, Neomorph has inked nearly $5 billion worth of deals with pharmaceutical companies.<\/p>\n
Last year, Neomorph signed a $1.6 billion deal with AbbVie for an option to license its glue. In 2024, Novo Nordisk signed a $1.46 billion deal with Neomorph. Biogen also signed a $1.45 billion deal with the San Diego company that year.<\/p>\n
Pharma giants that haven\u2019t signed on are working on their own in-house glue.<\/p>\n
As Neomorph awaits data from its first clinical trial, venture capitalists are putting in more money to \u201csupport the advancement of the ongoing NEO-811 Phase 1\/2 trial,\u201d according to a release.<\/p>\n
After investing an initial $100 million Series A round in February, Deerfield Management led the latest $100 million Series B round with new investors Regeneron Ventures, Longwood Fund, Alexandria Venture Investments, Binney Street Capital of Dana-Farber Cancer Institute and others.<\/p>\n
\u201cThis financing is a testament to the science, strategy, and team we have built,\u201d said Phil Chamberlain, co-founder and CEO of Neomorph.<\/p>\n
The new financing will go toward supporting the ongoing clinical trial. The company also plans to invest in a handful of other molecular glues that could target other cancers, though it did not specify which ones.<\/p>\n","protected":false},"excerpt":{"rendered":"San Diego startup Neomorph on Monday announced a new $100 million investment for its molecular glue that tricks…\n","protected":false},"author":2,"featured_media":163157,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[19093,387,181,74,76,75,1696],"class_list":["post-266915","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-diego","tag-biotech","tag-business","tag-latest-headlines","tag-san-diego","tag-san-diego-headlines","tag-san-diego-news","tag-top-stories-sdut"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/266915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=266915"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/266915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/163157"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=266915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=266915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=266915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}