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Matrix Partners China leads a $20 million Series A funding in Nutshell Therapeutics
Nutshell Therapeutics, a small molecule drug developer, announced that it has closed a $20 million Series A round of financing led by Matrix Partners China, with follow-on investment from Source Code Capital and Kunlun Fund. And the existing investors include Northern Light Venture Capital and Baidu Venture also pumped in capital.
The proceeds will be used to drive the construction of its computationally driven Allosteric Drug (AD) R&D platform and the clinical development of its allosteric drug candidates.
Founded in 2013, the firm has a long history of research and development in small molecule drug discovery and development, and has a systematic accumulation of discovery-related technologies and a strong scientific background, and is one of the few biotech companies in the world that has both a discovery platform and a First-in-Class (FIC) discovery pipeline.