Tech Company Financing Transactions
Magnet Biomedicine Funding Round
Magnet Biomedicine closed a $50 million funding round on 9/19/2023. Backers included Newpath Partners and Arch Venture Partners.
Transaction Overview
Company Name
Announced On
9/19/2023
Transaction Type
Venture Equity
Amount
$50,000,000
Round
Undisclosed
Investors
Newpath Partners (Lead Investor)
Proceeds Purpose
The company intends to use the funds to expand its development efforts for TrueGlues�--compounds that induce cooperative protein--protein interactions. Its diverse portfolio of programs span several indications, including cardiovascular disease, oncology, and immune disorders.
Company Information
Company Status
Private & Independent
Industry
Biopharmaceutical
Mailing Address
One Kendall Square Building 200, 001
Cambridge, MA 02139
USA
Cambridge, MA 02139
USA
Phone
Undisclosed
Website
Email Address
Overview
Magnet Biomedicine's modular TrueGlue� technology enables the systematic discovery of molecular glues towards the treatment of human disease. Our technology builds upon the discoveries of our Scientific Founders, who provided the seminal observations on molecular glues and have explored them for over 30 years.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Co-Founder
Michael Rosbash
Co-Founder
David Spiegel
President
Brian Safina
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