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news.Moma Therapeutics has completed a $150m Series B financing led by Goldman Sachs Asset Management for advancement of several precision oncology programmes to clinical trials.
The proceeds will be used to advance a pipeline of precision oncology programmes. Credit: National Cancer Institute on Unsplash.
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The financing round saw participation from other new investors Pavilion Capital, Section 32, Invus and LifeSci Venture Partners.
All of the Series A investors of Moma including Third Rock Ventures, Cormorant Asset Management, Casdin Capital, Nextech Invest, Rock Springs Capital, Creacion Ventures, Alexandria Venture Investments and other undisclosed investors also took part in the round.
Moma Therapeutics CEO Asit Parikh said: “Since our launch in 2020, Moma has advanced our novel drug discovery platform, generated multiple high-impact oncology programmes and bolstered our exceptional team.
“Through these achievements we are developing an explicit understanding of the dynamic conformational changes of molecular machines, a class of enzymes which have historically proven very tough to drug.
“This Series B gives us runway to move our precision medicines toward the clinic for patients in need.”
The company will focus on its drug discovery platform on disease-causing proteins and aims to develop precision medicines for patients with significant unmet medical needs.
Additionally, the funding will be used for further development of product opportunities.
In conjunction with the financing, Moma appointed Goldman Sachs Asset Management life sciences investing head Amit Sinha to its board of directors.
Sinha said: “We are excited to partner with the Moma team, who has a proven track record of successful discovery and development and has already created a portfolio of promising programs targeting well-characterised drivers of cancer.”
