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."
Neomorph will use the funding to further develop its platform and expand its research team, according to company officials.
The biotech is led by Philip Chamberlain as President and Chief Scientific Officer. Neomorph has recruited top industry talent including Rohan Beckwit, Gang Lu, Mary Matyskiela, Ben Wen and Samer Chmait.