Seaport Therapeutics Secures $225 Million in Oversubscribed Series B Funding

Funding Amount:
Seaport Therapeutics has raised $225 million in an oversubscribed Series B financing round, bringing the total capital raised to $325 million since its launch in April 2024.

Investors:
The Series B was led by General Atlantic and included new investors such as T. Rowe Price Associates, Foresite Capital, Invus, Goldman Sachs Alternatives, and Canada Pension Plan Investment Board, along with founding investors ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures, and PureTech Health.

Use of Funds:
The proceeds will be used to advance Seaport’s clinical-stage pipeline of first and best-in-class neuropsychiatric medicines through key clinical milestones and further develop the Glyph technology platform.

Glyph Technology Platform:
The platform is designed to enable and enhance oral bioavailability, avoid first-pass metabolism, and reduce liver enzyme elevations or hepatotoxicity and other side effects, allowing for the advancement of clinically active drugs that were previously hindered by these limitations.

Leadership:
Seaport Therapeutics is led by Daphne Zohar, founder and CEO, who previously co-founded Karuna Therapeutics, which was acquired by Bristol Myers Squibb for $14 billion.