Seaport Therapeutics Wraps Up $225 Million Series B Financing

Seaport Therapeutics has just wrapped up a cool $225 million in Series B financing, and let’s just say the demand was high – the round was oversubscribed.

The biopharmaceutical company, which has been busy advancing new neuropsychiatric medicines, pulled in this funding from a star-studded lineup of investors. Think of names like General Atlantic, T. Rowe Price, Foresite Capital, and even Goldman Sachs.

Not bad for a company that’s barely six months old.

This hefty cash injection pushes Seaport's total fundraising to a hefty $325 million, and it’s not just sitting in a bank. The company plans to use the funds to push its clinical pipeline forward.

They’re working on some pretty cutting-edge stuff, using their proprietary Glyph™ technology platform.

Apparently, Glyph helps medicines work better by skipping that pesky liver process that can cause side effects. You know, the kind that makes you rethink taking medicine in the first place.

Daphne Zohar, Founder and CEO of Seaport Therapeutics said:

“Seaport is advancing novel therapeutics that have proven clinical efficacy but had previously been held back by an issue we can now address with our Glyph platform. This financing enables the important clinical work that brings us another step closer to delivering new medicines to make a difference in the lives of patients and their families.”

PureTech, the proud parent of Seaport, will now hold a solid 36.7% stake in the company.

It’s been quite the family affair with co-founders like ARCH Venture Partners and Sofinnova Investments also joining the funding frenzy.

The big bucks will help Seaport’s mission to get their first-in-class medicines through key clinical milestones, all while making sure their Glyph platform stays ahead of the curve.

With this support, the company seems set to tackle some big challenges in treating depression, anxiety, and other neuropsychiatric disorders.

Let's see what Seaport has up its sleeve next!