At a Glance
- Company: Neomorph
- Location: San Diego, US
- Deal value: $100M Series B
- Focus area: Molecular glue degraders for oncology
- Next steps: Advance NEO-811 Phase 1/2 trial
What happened?
Neomorph announced the closing of a $100 million Series B financing on 13 April 2026 to support its molecular glue degrader platform. The round was led by Deerfield Management, with participation from Regeneron Ventures, Longwood Fund, Alexandria Venture Investments, Binney Street Capital and others.
Why does it matter?
Molecular glues induce proximity between a target protein and an E3 ubiquitin ligase, marking the target for proteasomal degradation — offering a solution for “undruggable” proteins lacking binding pockets for conventional inhibitors. Neomorph’s platform targets transcription factors and other challenging oncology drivers, potentially expanding the druggable proteome beyond the 15-20% addressable by small molecules.
Who’s behind it?
Neomorph pioneers proprietary discovery of novel molecular glues distinct from PROTACs, using cereblon-based mechanisms like those in approved IMiDs (thalidomide derivatives). CEO Phil Chamberlain highlighted the financing’s validation of the team’s strategy for clinical execution.
How was it achieved?
Proceeds will primarily fund the ongoing Phase 1/2 trial of lead candidate NEO-811, an oral cereblon-dependent degrader, in patients with locally advanced or metastatic clear cell renal cell carcinoma (ccRCC). The open-label study assesses safety, tolerability, pharmacokinetics and preliminary anti-tumour activity.
What’s next?
Neomorph will expand its pipeline across oncology and other areas using its screening platform to identify glues against historically undruggable targets. Clinical data from NEO-811 expected to guide further development, with potential for expansion into neurology and beyond.