The company aims to achieve early clinical proof-of-concept for the therapy by late 2026.
Dewpoint noted that the financing will also expedite the development of its first-in-class c-mod targeting MYC, a target that has been challenging to address in the past.
Furthermore, the funding will enhance ongoing partnerships with Novo Nordisk, Bayer and Mitsubishi Tanabe Pharma.
Through partnerships with these companies, Dewpoint aims to expedite the translation of condensate biology into medicine for difficult-to-treat diseases.
This investment is projected to sustain Dewpoint’s operations through early 2027.
DPTX3186 is an orally administered small molecule c-mod that utilises a unique mechanism to disrupt oncogenic Wnt signalling selectively.
It forces β-catenin to concentrate in an inactive condensate within cancer cells, potentially mitigating safety issues, such as bone and gastrointestinal toxicity.
The Series D funding round was supported by a group of existing investors who are aligned with Dewpoint’s strategic objectives and continue to back the company’s scientific initiatives.
Dewpoint Therapeutics CEO Ameet Nathwani said: “This financing allows us the opportunity to demonstrate the promise of condensate biology in the clinic, with DPTX3186 laying the foundation for creating an entirely new class of condensate modulating therapeutics with broad potential, a milestone for both science and our investors.
“We are grateful for the commitment of our investors and Board who continue to provide strategic guidance and support for the company as we enter the clinical development phase of our evolution.”