The funding round was led by SoftBank Vision Fund 2, along with other new investors General Catalyst, Mubadala Capital, 3E Bioventures, Mirae Asset Capital, and NS Investment. Also joining the round were existing investors Leaps by Bayer, Polaris Partners, Samsara BioCapital, ARCH Venture Partners, EcoR1 Capital, and Maverick Ventures.

Dewpoint Therapeutics is the first company to apply the emerging understanding of biomolecular condensates to drug discovery. Dewpoint believes that a vast range of conditions have pathways that are regulated by condensates or arise from the dysfunction of condensates, with programs spanning oncology, neuromuscular, cardiopulmonary, and virology indications.