Plexium, a San Diego, CA-based provider of a proprietary platform that enables cell-based phenotypic screening of DNA-encoded libraries in nanoliter volumes, closed a $28m Series A financing.
The round was led by DCVC Bio and The Column Group, with participation from M Ventures, CRV, and Neotribe Ventures. In conjunction with the financing, Kiersten Stead, Ph.D., managing partner of DCVC Bio, and Tim Kutzkey, Ph.D., managing partner of The Column Group, have joined Plexium’s board of directors.
The company intends to use the funds to advance its DELPhe platform to discover novel E3 ligase-modulating therapeutics to treat cancer and neurodegenerative diseases.
Led by Kandaswamy (Swamy) Vijayan, Ph.D., founder and CEO, Plexium is a biotechnology company focused on the identification of E3 ligase modulating small molecules to treat cancer and neurodegenerative diseases. The company’s screening platform, named DELPhe for DNA-Encoded Library (DEL) phenotypic (Phe) screening, utilizes droplet and microwell confinement to miniaturize cell-based assays that yield high content readouts at very low cost and very high throughput.
Plexium is gathering a comprehensive catalog of chemical and biological interactions of E3 ligases and aims to lead this field by discovering and developing new therapeutics internally and with partners.