pharmaphorum October 22, 2024
After emerging from the shadows with a $100 million Series A in April, Seaport Therapeutics has moved swiftly to shore up its finances with a $225 million second round to fund the development of improved drugs for depression and anxiety.
General Atlantic led the Series B, with other backers including ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures, and co-founder PureTech Health, amongst others.
Boston-based Seaport said the money would support a pipeline of improved neuropsychiatric drug candidates led by SPT-300, an oral prodrug of allopregnanolone that is being studied for major depressive disorder with or without anxious distress.
The drug – generated using Seaport’s Glyph technology – recently started a phase 2b study that Seaport thinks could support regulatory...
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