Rapafusyn Pharmaceuticals Raises $28M Series A for Molecular Glue Drug Platform

Rapafusyn Pharmaceuticals, a leading enterprise in the development of therapeutic drugs utilizing non-degrading molecular glues, has announced the initial closure of an extension to its Series A financing round, totaling $28 million. The funding round was primarily led by 3E Bioventures Capital and Proxima Ventures Ltd., with participation from Lapam Capital.

The newly acquired funds are poised to accelerate the development of Rapafusyn's advanced pipeline of macrocyclic peptide-based non-degrading molecular glues. These molecular glues, generated through their innovative RapaGlue™ platform, are designed to address therapeutic targets that have historically been challenging or undruggable. This breakthrough technology stands to revolutionize drug discovery and development, offering new solutions for diseases with high unmet medical needs.

Dr. Jun O. Liu, the founder of Rapafusyn and a pioneer in the molecular glue field, emphasized the significance of the RapaGlue™ platform. He highlighted its capacity to intentionally create non-degrading molecular glues, a departure from the previously serendipitous discovery of such compounds. Dr. Liu's foundational work on the molecular glue mechanism laid the groundwork for this innovative modality.

Rapafusyn CEO, Dr. Sean Hu, expressed his enthusiasm about the RapaGlue™ platform's potential to deliver groundbreaking therapies. He pointed out that combining the benefits of molecular glues with cyclic peptides enables the creation of cell-permeable drug candidates. This robust platform aims to address disease targets that have eluded other therapeutic approaches.

Dr. Karen Liu, a Founding Partner at 3E Bioventures, praised Rapafusyn's new class of macrocyclic molecules, which function as non-degrading molecular glues. She noted their ability to target a wide range of difficult-to-drug targets, such as protein-protein interactions (PPIs), transcription factors, transporters, ion channels, and more. Dr. Liu emphasized the platform's efficiency in screening for small molecule modulators beyond traditional methods.

Haolin Sung, a Partner at Proxima Ventures, echoed this sentiment, emphasizing the differentiation and superiority of Rapafusyn’s platform compared to other drug modalities. Sung commended the expertise and potential of Rapafusyn's operating and advisory teams, expressing confidence in the company's future success.

Zhihua Yu, Founding Managing Partner of Lapam Capital, highlighted the innovative approach Rapafusyn employs to effectively target a broad spectrum of challenging or undruggable disease targets. Yu underscored the significant gap in the pharmaceutical industry that Rapafusyn aims to address, believing in the company's potential to discover transformative medicines for patients worldwide.

Rapafusyn Pharmaceuticals originated from the laboratory of Dr. Jun O. Liu at Johns Hopkins University. The company's mission is to develop transformational medicines to meet high unmet medical needs and enhance patient care. Rapafusyn leverages non-degrading macrocyclic molecular glues, known as RapaGlues™, to target complex therapeutic challenges. The company has developed both DNA-encoded libraries (DELs) and arrayed libraries of RapaGlues™ that form novel protein-protein interactions (neo-PPIs) to inhibit disease target proteins.

These RapaGlues™ are designed to bind FKBP and form a ternary complex with disease target proteins, offering a promising approach to modulate intricate protein-protein interactions. The modular architecture of RapaGlues™ facilitates structure-activity relationship (SAR) studies and optimization for potency, selectivity, and physicochemical properties, thereby accelerating drug discovery and development. Frequently, RapaGlues™ exhibit cell permeability directly from the starting point, enhancing their therapeutic potential.

Rapafusyn continues to focus on advancing its innovative platform, aiming to bring novel therapies to patients in need. The recent financing round marks a significant milestone in the company's journey towards achieving this goal.