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Seaport Therapeutics raised $225 million in a Series B round led by General Atlantic to advance its clinical-stage pipeline of neuropsychiatric medicines.

PUBLIC · SPTXOct 21, 2024•over 1 year ago

Amount Raised

$225 Million

Round Type

series b

BostonBiotechnologyTherapeuticsPharmaceuticalBiopharma

Investors

Pure Tech HealthThird Rock VenturesSofinnova InvestmentsArch Venture PartnersCpp InvestmentsGoldman Sachs AlternativesInvusForesite CapitalT. Rowe Price AssociatesGeneral Atlantic

Description

Seaport Therapeutics announced the closing of an oversubscribed $225 million Series B financing round, bringing total capital raised to $325 million since its launch. The company will use the funds to further its clinical-stage pipeline and enhance its Glyph™ technology platform.

Company Information

Company

Seaport Therapeutics

Location

Boston, Massachusetts, United States

About

Seaport Therapeutics is a clinical-stage biopharmaceutical company advancing the development of novel neuropsychiatric medicines in areas of high unmet patient needs. We have a proven strategy of advancing clinically validated mechanisms previously held back by limitations we overcome with our proprietary Glyph technology platform. All the therapeutic candidates in our pipeline of first and best-in-class medicines are based on the Glyph platform, which is uniquely designed to enable oral bioavailability, bypass first-pass metabolism and reduce hepatotoxicity and other side effects. We are led by an experienced team that was involved in inventing and developing KarXT and other neuropsychiatric medicines, and are guided by an extensive network of renowned scientists, clinicians and key opinion leaders.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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