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Dewpoint Therapeutics makes medicines that act on condensates, droplet-like clusters of proteins inside cells, to reach cancer drivers that ordinary drugs have struggled to block. Its first cancer medicine, DPTX3186, is in an early trial focused on stomach cancer.
Dewpoint Therapeutics, at 451 D Street, Boston, Massachusetts, was co-founded by Tony Hyman of the Max Planck Institute of Molecular Cell Biology and Genetics in Dresden and Rick Young, and develops small-molecule condensate modulators (c-mods) for targets it describes as previously intractable, such as beta-catenin, MYC and TDP-43. Its ERSAi technology uses AI to relate condensates, disease and chemistry. The lead programme DPTX3186 is a first-in-class beta-catenin condensate modulator that has FDA Orphan Drug and Fast Track designations; the company announced the first patient dosed in a phase 1a/2a trial in advanced solid tumours, focused on gastric cancer, on 4 February 2026. A MYC condensate modulator development candidate was selected in February 2026, and a TDP-43 programme for ALS is in IND-enabling work; it also has discovery partnerships with Bayer, Novo Nordisk and the Gates Foundation. Its first registered cancer trial, NCT07312903, was posted on ClinicalTrials.gov in December 2025. The company lists a USD 60 million Series A in 2019 with founding investor Polaris Partners, a USD 77 million Series B in 2020 led by ARCH Venture Partners and a USD 150 million Series C in 2022 led by SoftBank Vision Fund 2.
| Round | Year | Amount | Source |
|---|---|---|---|
| Series C · Led by SoftBank Vision Fund 2, with General Catalyst and Mubadala Capital among new investors. | 2022 | $150M | dewpointx.com |
| Series B · Led by ARCH Venture Partners. | 2020 | $77M | dewpointx.com |
| Series A · Founding investor Polaris Partners, with 6 Dimensions Capital, EcoR1 Capital, Alexandria Venture Investments and Leaps by Bayer among others. | 2019 | $60M | dewpointx.com |
Amounts only where the cited source states them. Rounds without a public source are not listed.
Shares ARCH Venture Partners, Alexandria Venture Investments, Gastric & gastro-oesophageal junction cancer.
Shares EcoR1 Capital, Polaris Partners.
Shares General Catalyst, Samsara BioCapital.
Shares Polaris Partners, Samsara BioCapital.
Shares Alexandria Venture Investments, AI-driven drug & target discovery.
Shares ARCH Venture Partners, CTNNB1.
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