Neomorph secured a $100 million Series B to advance its oral molecular glue degrader NEO-811 through clinical development. The financing, led by Deerfield Management with participation from Regeneron Ventures and other investors including funds tied to Dana-Farber, supports ongoing Phase I/II testing of NEO-811 in locally advanced or metastatic clear cell renal cell carcinoma (ccRCC). NEO-811 is designed to induce targeted degradation of ARNT (HIF-1β), a component of the hypoxia pathway, which is amplified in a large fraction of ccRCC tumors through impaired VHL activity. Neomorph said the trial assesses safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity. The company also cited a partnership portfolio that includes Novo Nordisk, Biogen, and AbbVie, signaling continued platform validation for molecular glue degraders as the modality moves into earlier clinical stages.