Matchpoint Therapeutics raises $150M Series B to advance oral covalent therapies for autoimmune disease
Matchpoint Therapeutics announced a $150 million Series B financing round. The round was co-led by Nextech Invest and Norwest, with participation from Sanofi Ventures, Digitalis Ventures, Invus, BB Biotech, T1D Fund, BOLD Longevity Growth, Access Biotechnology and Atlas Venture.
The financing builds on a $70 million Series A raised in 2022, which also included a $60 million upfront payment from Novartis in exchange for an option to develop oral covalent inhibitors aimed at an unnamed transcription factor associated with several inflammatory diseases.
Matchpoint plans to use most of the new money to move its lead candidate, MPT-062, into clinical trials next year. MPT-062 is described as an oral T cell modulator that could be a first-in-class therapy for autoimmune and inflammatory disorders.
The CEO, Andre Turenne, said the round reflects the company’s progress in discovering differentiated oral therapies for these conditions.
This writeup was produced by pharmadog from original reporting by Fierce Biotech.
Original headline: “Matchpoint nets $150M series B to take covalent med into clinic”
read at Fierce Biotech ↗
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