Seaport Therapeutics Secures $225M Series B Funding to Revolutionize Neuropsychiatric Medicines

Funding:
Seaport Therapeutics has closed a $225 million Series B financing round, led by General Atlantic, to advance its clinical-stage pipeline of first and best-in-class neuropsychiatric medicines.

Total Capital:
This funding brings the total capital raised by Seaport to $325 million since its launch in April 2024.

Glyph Technology Platform:
The company's proprietary Glyph platform is designed to enhance oral bioavailability, avoid first-pass metabolism, and reduce liver enzyme elevations or hepatotoxicity and other side effects, addressing limitations that previously hindered clinically active drugs.

Pipeline Candidates:
Key pipeline candidates include SPT-300, an oral prodrug of allopregnanolone for major depressive disorder, and SPT-320, a novel prodrug of agomelatine for generalized anxiety disorder.

Investor Support:
The financing round was supported by a syndicate of top-tier investors, including General Atlantic, T. Rowe Price Associates, Foresite Capital, Invus, Goldman Sachs Alternatives, and Canada Pension Plan Investment Board (CPP Investments), along with founding investors ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures, and PureTech Health.

Clinical Milestones:
The funding will be used to advance Seaport’s clinical-stage pipeline through important clinical milestones and further develop the Glyph technology platform.