Dago Bio Completes Over $20 Million A+ Round Funding to Accelerate Novel Molecular Glue Drug Development

Tech 2025-01-22 11:34:05 Source: Network

Dago Bio Completes Over $20 Million A+ Round Funding to Accelerate Novel Molecular Glue Drug DevelopmentLate 2024, Dago Bio (hereinafter referred to as Dago), a biotechnology company focused on developing molecular glue drugs targeting undruggable targets, announced the successful completion of a Series A+ financing round exceeding $20 million. This round was co-led by Zhejiang Province's "4+1" Biomedicine and High-end Medical Device Industry Fund, Takeda Ventures, Fengchuan Capital, Longmen Capital, HaoYue China Healthcare Fund, and AIM-HI Accelerator Fund

Late 2024, Dago Bio (hereinafter referred to as Dago), a biotechnology company focused on developing molecular glue drugs targeting undruggable targets, announced the successful completion of a Series A+ financing round exceeding $20 million. This round was co-led by Zhejiang Province's "4+1" Biomedicine and High-end Medical Device Industry Fund, Takeda Ventures, Fengchuan Capital, Longmen Capital, HaoYue China Healthcare Fund, and AIM-HI Accelerator Fund. Existing investor YuanSheng Venture Capital also participated in this round. HaoYue Capital served as the exclusive financial advisor for this round and assisted the company in securing additional funding.

Dago Bio is committed to leveraging its proprietary molecular glue drug discovery platform, GlueXplorer, to overcome challenges posed by diseases traditionally difficult to treat with conventional drugs. GlueXplorer is a powerful innovation engine, currently encompassing over 10,000 unique molecular glue compounds and a substantial database of validated biological activity data. This extensive compound library, combined with the company's unique multi-faceted screening strategies and validation systems, provides strong support for the discovery of new targets and optimization of molecular glues, which is crucial for Dago Bio's breakthroughs in the novel molecular glue field.

This funding round will primarily be used to advance the clinical research of Dago Bio's core pipeline, the HuR molecular glue. HuR, a previously considered undruggable RNA-binding protein, plays a key role in cancer and inflammation. Dago Bio plans to initiate patient recruitment for the clinical trial of its HuR molecular glue in 2025, marking a significant advancement in challenging traditional drug development paradigms and developing drugs targeting "undruggable" targets. This not only reflects the recognition of Dago Bio's technological capabilities but also provides direction and confidence for future development of more drugs targeting such targets.

In addition to the HuR molecular glue pipeline, Dago Bio is actively advancing several other molecular glue projects. Among them, the first-in-class WEE1 molecular glue is particularly noteworthy. Unlike traditional WEE1 inhibitors, Dago Bio's WEE1 molecular glue possesses a unique and novel mechanism of action and is expected to confirm Proof of Concept (POC) in 2025. This further demonstrates Dago Bio's innovation and leadership in molecular glue drug development.

Dago Bio's ambitions extend beyond single-therapy development; they are actively exploring the application potential of molecular glues in novel antibody-drug conjugates (ADCs). Through strategic collaborations, Dago Bio is committed to developing molecular glues into novel ADC payloads to provide more effective and precise treatments for cancer.

In May 2024, Dago Bio entered into a multi-target collaborative research and exclusive licensing agreement with Takeda Pharmaceutical Company Limited, a global pharmaceutical leader. Under the agreement, Dago Bio will utilize its GlueXplorer platform to collaborate with Takeda on the development of innovative molecular glue degraders targeting multiple targets in oncology, neuroscience, and inflammation. This not only reflects Takeda's recognition of Dago Bio's technology but also provides strong strategic support for Dago Bio's further development. It's noteworthy that Takeda Ventures also participated in this funding round, further solidifying the foundation of the collaboration.

Dr. Zou Lihui, co-founder and CEO of Dago Bio, expressed high praise for this round of financing: "We are very pleased to welcome these excellent investors who share Dago's visionto develop innovative drugs that can transform disease treatment through an innovative molecular glue drug development platform. This financing round lays a solid foundation for entering the clinical stage in 2025 and further proves the feasibility of our novel molecular glue strategy. With the first-in-class HuR molecular glue pipeline entering the clinical stage and the novel WEE1 molecular glue pipeline about to confirm POC, the company will continue to move towards the goal of providing breakthrough therapies for patients and improving their health."

Dr. Zou Lihui's statement fully reflects Dago Bio's corporate mission and development goals. They are committed to translating innovative technologies into practical clinical applications, bringing tangible and effective treatment options to patients.

The success of this funding round not only provides financial security for Dago Bio's continued development but also injects new vitality into the entire molecular glue drug development field. Dago Bio's successful experience will encourage more companies to focus on and invest in this area with enormous potential, thereby promoting the development and launch of more innovative drugs and ultimately benefiting more patients.

Dago Bio's success stems from its powerful technology platform, excellent R&D team, and clear development strategy. The GlueXplorer platform, as its core competency, provides a solid foundation for drug development; the experienced R&D team continually overcomes technological bottlenecks, driving the development of innovative drugs; and a clear development strategy guides the company steadily towards its goals. These factors have collectively contributed to Dago Bio's leading position in the molecular glue drug development field.

In the future, Dago Bio will continue to focus on the research and development of molecular glue drugs, continuously expanding its technology platform and R&D pipeline to provide more breakthrough therapies for patients and improve human health. This is not only the pursuit of a single company but also the common goal of the entire biopharmaceutical industry. Dago Bio's success story will undoubtedly inspire more researchers and companies to dedicate themselves to this challenging and opportunistic field, contributing together to human health. Through continued innovation and effort, Dago Bio and other companies dedicated to molecular glue drug development will bring more hope in conquering diseases. Their work is not only about corporate development but is also intrinsically linked to human health and well-being, making it profoundly significant. The completion of this financing round is not only a milestone in Dago Bio's development history but also heralds a new chapter in the molecular glue drug development field.

The success of this funding round also reaffirms investors' confidence in Dago Bio's future prospects. The decision to invest in Dago Bio is not only driven by the company's leading technology and strong R&D capabilities in the molecular glue field but also by the enormous market potential and social value behind the company. With an aging population and the increasing prevalence of chronic diseases, the demand for innovative drugs is also growing. Dago Bio is committed to solving disease problems that are difficult to overcome with traditional drugs, and its molecular glue drugs are expected to bring new treatment hope to many patients. This is precisely the perfect combination of social responsibility and commercial value that investors value. Therefore, this financing is not only an injection of capital but also an endorsement of Dago Bio's development strategy and confidence in its future development.

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