Matchpoint Therapeutics Raises $150 Million in Series B Funding
Matchpoint Therapeutics, a biotechnology firm based in Watertown, Massachusetts, has successfully closed a $150 million Series B funding round. The company focuses on developing precision small molecules that leverage covalency to create new treatment possibilities for serious immune diseases and cancer.
Investors and Leadership
The Series B round was co-led by Nextech Invest and Norwest, with participation from investors such as Invus, BB Biotech, T1D Fund, BOLD Longevity Growth, Access Biotechnology, Atlas Venture, Sanofi Ventures, and Digitalis Ventures. As part of the financing, Kanishka Pothula of Nextech Invest and Brian Matesic of Norwest will join Matchpoint’s Board of Directors.
Andre Turenne, President and CEO of Matchpoint Therapeutics, commented on the successful funding round, stating, "This Series B financing reflects our substantial progress in the discovery of differentiated first-in-class oral therapies for autoimmune and inflammatory diseases."
Use of Funds
The funds raised will be directed towards advancing Matchpoint's lead asset, MPT-062, an oral T cell modulator, to clinical proof-of-concept. Clinical development is set to begin in 2027. Additionally, the company plans to continue progressing another program funded through a previous agreement with Novartis.
With this significant financial boost, Matchpoint Therapeutics aims to further its research and development initiatives, potentially offering new therapeutic options in the fields of autoimmune and inflammatory diseases.