Proceeds from the financing will be used to advance multiple pipeline programs through to investigational new drug status and to further invest in Dewpoint's fully integrated, multicomponent biology platform as well as its artificial intelligence-driven data science platform. Dewpoint will also expand its research infrastructure to support the company's growth with over 20 pipeline programs in discovery and development that span oncology, neuromuscular, cardiopulmonary, and virology indications.

Condensates are membraneless organelles that form dynamically throughout the cell via a process called phase separation. Their behavior is governed by the concentrations of, and multivalent interactions between, proteins and nucleic acids. These subcellular compartments organize and concentrate molecules within cells, thereby enabling key biochemical processes and driving various diseases.

Dewpoint has invested in a digital discovery platform and state-of-the-art biological or "wet-lab" methods of investigating condensate function and targeting. It has developed advanced artificial intelligence and computer vision capabilities, proprietary data and small molecule libraries, a proprietary knowledge graph of condensates and their functional connection to disease pathology, and compounds that modulate their behavior. Such compounds are referred to by the company as c-mods, which target condensates to restore normal condensate properties and cellular function, the firm said.

The funding round was led by SoftBank Vision Fund 2, along with new investors General Catalyst, Mubadala Capital, 3E Bioventures, Mirae Asset Capital, and NS Investment. Also joining the round were existing investors Leaps by Bayer, Polaris Partners, Samsara BioCapital, Arch Venture Partners, EcoR1 Capital, and Maverick Ventures.