MPM Capital led a $75m Series A round in Photys Therapeutics.

MPM Capital led a $75m Series A round in Photys Therapeutics, a developer of phosphorylation-inducing chimeric small molecule medicines, with participation of Omega Funds, Longwood, 8VC, Arkin Bio, Mass General Brigham Ventures, MRL Ventures Fund, Merck, Eli Lilly, and Heritage Medical Systems. “Many current chimeric and bifunctional modalities focus on protein degradation, which limits their range of addressable diseases. Photys expands this functionality, using PHICS to recruit kinases and induce phosphorylation, a key post-translational modification that controls many protein functions, including activation, stabilization, localization, trafficking, degradation, and inactivation," Edward Holson, Photys Co-Founder and Chief Scientific Officer.