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Photys Therapeutics has raised $75.0M across 1 funding round.
Key people at Photys Therapeutics.
Photys Therapeutics has raised $75.0M in total across 1 funding round.
Photys Therapeutics develops a novel class of medicines utilizing Phosphorylation-Inducing Chimeric Small Molecules, or PHICs. These proprietary bifunctional small molecules are designed to precisely control the phosphorylation state of target proteins, enabling the fine-tuned modulation of protein function. This innovative approach extends beyond traditional protein inhibition, offering a method to address a broad spectrum of diseases by selectively adding phosphate groups to proteins.
The company was founded by Dr. Amit Choudhary, David Steinberg, and Lizzie Ngo at Longwood Fund. Dr. Choudhary, a distinguished figure from Harvard Medical School, the Broad Institute, and Brigham and Women’s Hospital, developed the foundational concept of PHICs. This built upon the understanding of proteolysis-targeting chimeras, extending the paradigm of bifunctional molecules to specifically induce phosphorylation.
Photys Therapeutics aims to deliver therapies for numerous diseases where the dysregulation of protein phosphorylation plays a critical role. Their work targets diverse therapeutic areas, including oncology, immunology, and metabolic disorders, by correcting aberrant protein activity. The company’s vision is to advance medical science and patient care through its groundbreaking approach to protein modulation.
Key people at Photys Therapeutics.
Photys Therapeutics has raised $75.0M in total across 1 funding round.
Photys Therapeutics's investors include MPM Capital, Arix Bioscience, Atlas Venture, Forbion, Longwood Fund, David Steinberg, 8VC, Alon Lazarus In remembrance, Eli Lilly and Company, Heritage Medical Systems, Mass General Brigham Ventures, MRL Ventures Fund.
Photys Therapeutics has raised $75.0M across 1 funding round. Most recently, it raised $75.0M Series A in September 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Sep 1, 2022 | $75M Series A | MPM Capital | Arix Bioscience, Atlas Venture, Forbion, Longwood Fund, David Steinberg, 8VC, Alon Lazarus IN Remembrance, ELI Lilly And Company, Heritage Medical Systems, Mass General Brigham Ventures, MRL Ventures Fund, Otello Stampacchia | Announced |
Photys Therapeutics is a biotechnology company developing proprietary bifunctional small molecules, known as PHosphorylation Inducing Chimeric Small molecules (PHICS), to precisely control protein post-translational modifications like phosphorylation, restoring protein function and addressing disease mechanisms beyond simple degradation.[1][2][5] Founded in 2021 and headquartered in Cambridge, Massachusetts, the company targets underserved diseases in areas such as metabolic, cardiometabolic, oncology, and immunology, serving the healthcare sector through innovative drug candidates.[1][2][5] With strong growth momentum, Photys launched with a $75 million Series A in 2022, secured major partnerships like a December 2024 research collaboration with Novo Nordisk ($186 million potential) for cardiometabolic applications, and a February 2025 exclusive license from Polymed for a Phase 1-ready IRAK4 degrader, expanding its proximity-based pipeline.[1][3][5]
Photys Therapeutics was founded in 2021 by Amit Choudhary, a leading bifunctional chemist from the Broad Institute, alongside Longwood Fund, drawing on Broad Institute technology to pioneer PHICS for precision protein modulation.[2][5] The idea emerged from Choudhary's expertise in bifunctional chemistry, aiming to go beyond PROTACs (which degrade proteins) by enabling phosphorylation to repair and modulate disease-driving proteins, with early validation through a scientific advisory board including MIT's Angela Koehler, Salk's Tony Hunter, Berkeley's Dan Nomura, MPM’s Wendy Young, and Dana Farber’s Eric Fischer.[2] Pivotal early traction came with the September 2022 Series A raise of $75 million, led by MPM Capital and including 8VC, Omega Funds, Arkin Bio, Mass General Brigham Ventures, MRL Ventures Fund, Eli Lilly, and others, enabling pipeline advancement.[3][5]
Photys rides the wave of proximity-based therapeutics, a booming trend in biotech shifting from traditional small molecules to bifunctional platforms that hijack cellular machinery for precise protein control, addressing "undruggable" targets in oncology, metabolic, and inflammatory diseases.[1][5] Timing is ideal amid 2024-2025 partnership surges (e.g., Novartis-PTC for Huntington's, Novo Nordisk deals), fueled by market forces like rising demand for next-gen modalities post-PROTAC success and AI-driven protein design accelerating discovery.[1] Photys influences the ecosystem by licensing assets (e.g., IRAK4 degrader) and presenting at symposia like Keystone, fostering innovation in epigenetic editing and kinase modulation while attracting top investors like Lilly and MPM.[3][5]
Photys is poised for pipeline acceleration with Phase 1 assets like the IRAK4 degrader and Novo Nordisk PHICS programs, potentially yielding milestones up to $186 million+ amid a hot market for proximity tech.[1][5] Trends like AI-enhanced bifunctional design and big pharma's push into metabolic/immunology diseases will shape its path, with influence growing through more licenses, IND filings, and possible Series B. As a 2021 debut with $75M fuel evolves into a multi-asset player, Photys exemplifies how Broad Institute spinouts are redefining protein therapeutics for precision medicine.[2][3][5]
