We study liquid–liquid phase separation and condensate phase transitions of biomolecules, including proteins, nucleic acids, and short peptides. We examine how sequence, single-molecule conformations, intermolecular interactions, and environmental conditions shape phase boundaries, condensate formation and maturation, and liquid-to-solid transitions. Combining multiscale simulations, computational characterization, and experimental data, we seek to uncover the physical principles of physiological condensates and pathological phase transitions, using minimal peptide models to probe the molecular basis of phase separation.