MOMA Therapeutics Announces $150 Million Series B Financing
Proceeds to fund the advancement of multiple precision oncology programs toward the clinic
Financing led by Goldman Sachs Asset Management and includes multiple leading healthcare funds
CAMBRIDGE, Mass.--(BUSINESS WIRE)--MOMA Therapeutics, a biopharmaceutical company discovering the next generation of precision medicines by targeting molecular machines that underlie human disease, today announced the completion of a $150 million Series B financing. The financing was led by Goldman Sachs Asset Management, with participation from other new investors Section 32, Pavilion Capital, Invus and LifeSci Venture Partners. All of MOMA’s Series A investors, including Third Rock Ventures, Nextech Invest, Cormorant Asset Management, Casdin Capital, Rock Springs Capital, Creacion Ventures, Alexandria Venture Investments and other undisclosed investors, also participated in the round.
“Since our launch in 2020, MOMA has advanced our novel drug discovery platform, generated multiple high-impact oncology programs and bolstered our exceptional team. Through these achievements we are developing an explicit understanding of the dynamic conformational changes of molecular machines, a class of enzymes which have historically proven very tough to drug,” said Asit Parikh, M.D., Ph.D., chief executive officer of MOMA. “This Series B gives us runway to move our precision medicines toward the clinic for patients in need. We welcome all new investors to our syndicate, including lead Goldman Sachs Asset Management, and are tremendously grateful to our existing investors for their steadfast support and commitment to MOMA’s vision and mission.”
MOMA’s drug discovery platform exploits a key vulnerability inherent to all enzymes in the molecular machine class: their dependence on well-coordinated, stepwise changes in conformation. By focusing this platform on disease-causing proteins, MOMA aims to develop precision medicines for patients with significant unmet medical needs. Proceeds from the financing will be used to further develop product opportunities and advance a rich pipeline of precision oncology programs.
In conjunction with the financing, MOMA has appointed Amit Sinha, head of life sciences investing within Goldman Sachs Asset Management, to its board of directors. Prior to his current role, Mr. Sinha was the global head of biotechnology investment banking for Goldman Sachs. Before joining Goldman, he was a member of the healthcare team with the Boston Consulting Group, where he worked on strategy and operations engagements for biopharma companies. Mr. Sinha has a B.S. in biological sciences, with honors, from Stanford University and an MBA from Harvard Business School. He serves on the board of directors for Lucile Packard Children’s Hospital at Stanford.
Goldman Sachs Asset Management is committed to investing in the next generation of innovative life sciences companies,” said Mr. Sinha. “We are excited to partner with the MOMA team, who has a proven track record of successful discovery and development and has already created a portfolio of promising programs targeting well-characterized drivers of cancer.”
About MOMA Therapeutics
MOMA Therapeutics is committed to discovering the next generation of precision medicines by targeting molecular machines that underlie human disease. Bringing together seminal scientific advancements in biochemistry, biophysics, structural biology, chemistry and functional genomics, the company is establishing a platform to exploit a key vulnerability inherent to all enzymes in the class: their dependence on well-coordinated, stepwise changes in protein conformation. By focusing this platform on disease-causing targets, MOMA aims to develop high impact, precision medicines for patients with unmet medical needs. MOMA Therapeutics is a private company launched in 2020 and is financed by world-class biotech investors, including a prestigious group of life sciences investors.
Katie Engleman, 1AB