HotSpot Therapeutics, Inc., a Boston, MA-based biotechnology company pioneering the discovery and development of first-in-class allosteric therapies targeting regulatory sites on proteins referred to as “natural hotspots,” closed a $100m Series C financing.
The round, which brought total funding to $190m, was led by Pivotal bioVenture Partners, with participation from LSP, B Capital Group, Monashee Investment Management, LLC, CaaS Capital Management, Revelation Partners, Pavilion Capital, Atlas Venture, Sofinnova Partners, SR One Capital Management, funds managed by Tekla Capital Management, LLC, and MRL Ventures Fund. In conjunction with the funding, Ash Khanna, PhD, of Pivotal bioVenture Partners, and Fouad Azzam, PhD, of LSP, will join the HotSpot Board of Directors.
The company intends to use the funds to continue advancing HotSpot’s Smart Allostery™ platform, with a focus on undrugged and poorly druggable targets, as well as the company’s existing pipeline.
Led by Jonathan Montagu, Chief Executive Officer, HotSpot Therapeutics leverages a Smart Allostery™ platform, which unlocks a vast range of disease-relevant proteins through the identification of protein pockets called “natural hotspots.” The Smart Allostery™ platform encompasses a broad suite of AI-enabled technologies and a large and diverse chemical library tailored to hotspots. The company is leveraging the Smart Allostery™ platform to uncover, capture, and drug natural hotspots across a wide array of disease-causing proteins.