CANADA – Congruence Therapeutics, a Montreal, Canada-based biotechnology company working at the interface of computational and experimental drug discovery, raised approx. US$15M in additional Series A funding.
The round, which brought the total amount to over US$65M, was led by BDC Capital’s Thrive Venture Fund, with participation from current investors Amplitude Ventures, Fonds de solidarité FTQ, OrbiMed, Investissement Quebec (IQ), and SilverArc. In February 2022, Congruence announced the close of its Series A financing of US$50M, led by Amplitude Ventures and Fonds de solidarité FTQ, with participation from Lumira Ventures, Investissement Quebec, OrbiMed Advisors, Driehaus Capital Management, and others. Congruence Therapeutics was founded in 2021 by Clarissa Desjardins, Ph.D., previously the founder and chief executive officer of Clementia Pharmaceuticals, a company developing therapies for rare pediatric bone diseases and sold to Ipsen in early 2019 for US$1.3 billion.The company intends to use the funds to expand its development efforts. Led by CEO Dr. Clarissa Desjardins, Congruence Therapeutics is a drug discovery company that leverages protein dynamics, biophysics, machine learning, AI, and computational chemistry to advance drug discovery. Its discovery engine, Revenir, captures the biophysical features of functional proteins and their pathogenic counterparts in order to discover functional allosteric and cryptic pockets which can lead to small molecule hits at unprecedented speed. 06/03/2023
