Magnet Biomedicine develops TrueGlues™—compounds that induce cooperative protein–protein interactions—using a platform that leverages human biology and proteomics to identify fit‑for‑purpose glues. The company positions TrueGlues to improve selectivity, induce biological synergy on defined targets, and address historically undruggable proteins. Its portfolio spans multiple indications, including cardiovascular disease, oncology, and immune disorders. Magnet intends to use the new funding to expand development efforts across these programs. The company was co‑founded by Stuart Schreiber, Michael Rosbash, Benjamin Cravatt, Richa Saxena, and David Spiegel, and its leadership includes Brian Safina (President & CSO), Bret Williams (VP Biology), Matthew Hayward (VP Drug Discovery), and Jennifer Franklin (VP Administration & Operations). The recent raise increases its capital base to support ongoing discovery and program advancement.

Total raised

$50M

Funding rounds

1

Latest round

Series A

Latest activity

Sep 2023