DepYmed

About DepYmed

DepYmed is a clinical-stage pharmaceutical company founded in 2014 to develop therapeutics for rare diseases and cancer. The company's scientific foundation is based on discoveries from the laboratory of its co-founder, Dr. Nicholas Tonks, at Cold Spring Harbor Laboratory, focused on the protein tyrosine phosphatase (PTP) family of enzymes. The company's primary focus is on developing orally bioavailable, small-molecule inhibitors of PTP1B, an enzyme that regulates signal transduction and is a validated therapeutic target for various diseases.

The company was founded by Dr. Nicholas Tonks, who initially discovered the protein tyrosine phosphatase enzyme family. Andreas Grill serves as President and CEO. His background includes extensive experience in pharmaceutical R&D at Forest Research Institute and founding a drug product development consulting firm. DepYmed has overcome previous challenges in the field by creating allosteric inhibitors of PTP1B that are potent, specific, and orally bioavailable, a significant breakthrough that had eluded other companies.

DepYmed's business model centers on the development and eventual commercialization of its proprietary drug candidates. Its pipeline includes treatments for Rett Syndrome, Wilson Disease, and various cancers. The company has advanced two small molecules into clinical trials. In March 2024, DepYmed received FDA clearance to begin a Phase 1 clinical trial for DPM-1003 for Rett Syndrome. The FDA has also granted Orphan Drug designation for its candidate DPM-1001 for Wilson Disease, which utilizes a novel class of PTP1B inhibitors with copper-chelating properties. The company has raised a total of $8.3 million in financing to advance its research and development programs.