Plexium Introduces $28 Million in Series A Financing

Funds will further improve Plexium's DELPhe platform and will build a pipeline of small molecules that modulate E3 ligases to enhance and degrade protein targets selectively.

FREMONT, CA: Plexium have reported the launch of the organization with the end of a $28 million Series A financing. The proprietary platform of company DELPhe facilitates the cell-based phenotypic screening of DNA-encoded libraries in nanoliter volumes. The funding was led by DCVC Bio and The Column Group, with participation from M Ventures, CRV, and Neotribe Ventures.

The new deal will further improve Plexium's DELPhe platform and will build a pipeline of small molecules that modulate E3 ligases to enhance and degrade protein targets selectively. Human clinical and translational biomarker observations inform Disease-specific profiles of desired protein modulation. By screening a large number of small particles, simultaneously, for their effect on cellular RNA and protein levels, compounds with the desired activity profiles will be chosen and advanced as therapeutic candidates in oncology and neurodegenerative diseases.

Kiersten Stead, Ph.D., managing partner of DCVC Bio, has said that Plexium is replacing the complex infrastructure around drug discovery with an ultra-high-throughput microfluidic platform while reducing assay complexity and supercharging chemical diversity. He also added that the richness and scale of data that can be produced from the DELPhe platform are ready to transform drug development. The company is excited to support Plexium in its mission to develop the ultimate tool for drugging un-druggable proteins.

Plexium's procedure utilizing the DELPhe stage is not standard for different ways to deal with focused protein degradation. While different methodologies require small molecules known to bind a protein target to be degraded, the DELPhe platform uses target-explicit degradation assays and phenotypic screens to discover little atoms that diminish levels of the objective protein in cells. This makes a chance to recognize small fragments to an undruggable protein that focuses through screening approaches that don't require earlier information on particles that bind the target.

Plexium is an exciting amalgam of cutting-edge engineering coupled with the latest advances in chemistry and biology. It has a vision of the DELPhe platform and its applicability to E3 ligase modulation. Plexium presented at the Targeted Protein Degradation Summit in Boston on October 23.

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