Ambagon Therapeutics Raises $85M in Series A Funding


Ambagon Therapeutics, a San Francisco CA-based biotechnology company, raised $85M in Series A funding.

The round was led by Nextech Invest with participation from RA Capital Management, Droia Ventures, Inkef Capital, AbbVie Ventures, MRL Ventures Fund, and Mission BioCapital and new investor Surveyor Capital (a Citadel company).

The company intends to use the funds to augment its drug discovery platform and to advance its pipeline of molecular glues.

Led by CEO Scott Clarke, Ambagon Therapeutics is a biotechnology company pioneering methods to unlock intrinsically disordered protein targets using small molecules. Ambagon applies deep knowledge of 14-3-3 proteins and a proprietary suite of drug discovery tools to create molecular glues that stabilize 14-3-3:target complexes. These molecular glue stabilizers amplify native biology to restore or inhibit target function, potentiate target activity, or promote or block target degradation. Ambagon’s initial focus is on oncology, with five programs in discovery.

Ambagon was founded by world leaders in 14-3-3 biology and drugging protein-protein interactions: Michelle Arkin, Professor and Chair of Pharmaceutical Chemistry and co-Director of the Small Molecule Discovery Center at UCSF, Luc Brunsveld, Professor of Chemical Biology at the Eindhoven University of Technology (TU/e), and Ambagon Chief Technology Officer Christian Ottmann, Associate Professor of Molecular Cell and Structural Biology, TU/e.

The leadership team includes Chief Executive Officer Scott Clarke, previously CEO of Tizona Therapeutics and Trishula Therapeutics, and Chief Scientific Officer Nancy Pryer, previously CSO at Day One Biopharmaceuticals and Chief Development Officer at Nurix Therapeutics.

It has locations in San Carlos, California, and Eindhoven, the Netherlands.