November 29, 2021 -- HotSpot Therapeutics has closed a $100 million series C financing round to advance its allosteric drug discovery platform to the clinic. This brings the total amount of funding for the company to $190 million. The funds will be used to advance HotSpot's Smart Allostery platform, as well as the company's existing pipeline, according to HotSpot.
Natural hotspots are pockets that are decisive in protein function. HotSpot uses the Smart Allostery platform to identify natural hotspots in disease-relevant proteins. HotsSpot has successfully identified selective small molecule inhibitors of E3 ubiquitin ligase and CBL-B using the platform, and it has demonstrated that these small molecules promote T-cell responses in vitro and in mice.
The investors included in the series C round included Pivotal Bioventure Partners, LSP and B Capital Group, Monashee Investment Management, CaaS Capital Management, Revelation Partners, Pavilion Capital, Atlas Venture, Sofinnova Partners, SR One Capital Management, Tekla Capital Management, and MRL Ventures Fund.