Dewpoint closes Series D to advance first-in-class c-mod into clinical development for gastric cancer

US biotech Dewpoint Therapeutics, a specialist in transforming condensate biology into medicine, has announced the closing of its Series D financing.

The funds will be used to advance DPTX3186, a first-in-class condensate modulator (c-mod), into clinical trials by year-end 2025 and deliver early clinical proof-of-concept in gastric cancer by the end of 2026.

They will also accelerate development of Dewpoint’s first-in-class c-mod targeting MYC, another historically ‘undruggable’ target, while strengthening ongoing collaborations with Bayer (BAYN: DE), Novo Nordisk (NOV: N), and Mitsubishi Tanabe Pharma. 

The financing provides operational runway into early 2027.

DPTX3186 is an orally-delivered small molecule c-mod with a novel mechanism of action designed to selectively disrupt oncogenic Wnt signaling. The drug forces β-catenin to concentrate in an inactive condensate preferentially within cancer cells. 

According to Dewpoint, by selectively modulating β-catenin in this way, DPTX3186 has the potential to address long-standing safety concerns, including bone and gastrointestinal toxicity, that have historically limited Wnt-targeted therapies.

The Series D round was supported by a syndicate of existing investors aligned with Dewpoint’s strategic vision that continue to support the company’s strategy and scientific progress.

Ameet Nathwani, chief executive, Dewpoint, 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.”