San Diego-based Neomorph, Inc., a company focused on molecular glue degrader discovery, has closed a USD 100 million Series B financing round to advance its lead oncology candidate and broader pipeline of targeted protein degradation therapies.
Deerfield Management led the round, with new investors Regeneron Ventures, Longwood Fund, Alexandria Venture Investments, and Binney Street Capital of Dana-Farber Cancer Institute also participating. Proceeds will primarily support the ongoing Phase I/II trial of NEO-811 in locally advanced or metastatic non-resectable clear cell renal cell carcinoma, with additional capital directed toward the company's broader pipeline across multiple therapeutic areas. No prior funding rounds were disclosed in the available source material, though Deerfield is described as a founding investor, indicating earlier-stage backing predating this round.
NEO-811 is an investigational molecular glue degrader designed to induce targeted degradation of ARNT, also known as HIF-1β, a protein central to a signaling pathway implicated in clear cell renal cell carcinoma. The Phase I/II study is a first-in-human, open-label monotherapy trial evaluating safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity in patients with the condition. Molecular glue degraders work by engineering neomorphic protein surfaces to redirect E3 ubiquitin ligases toward disease-driving proteins, enabling degradation of targets that have resisted conventional small-molecule approaches.
Neomorph was founded in 2020 and describes its proprietary platform as encompassing the largest molecular glue target space in the industry, spanning multiple novel degrons across an portfolio of E3 ubiquitin ligases. The company has established partnerships with Novo Nordisk, Biogen, and AbbVie spanning cardiometabolic disease, rare disease, neurology, oncology, and immunology, providing external validation of the platform's applicability across disease areas.
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