In a significant development in the biotechnology sector, two pioneering companies, Nvelop Therapeutics and Seaport Therapeutics, have come out of stealth mode with a robust $100 million in financing each. This funding is set to propel their respective ventures into the gene editing and neuropsychiatric treatment arenas.
Seaport Therapeutics: A New Chapter in Neuropsychiatric Medicine
Boston-based Seaport Therapeutics is making waves as the latest venture by prominent figures from Karuna Therapeutics, notably after its recent acquisition by Bristol Myers Squibb for an impressive $14 billion. The team at Seaport, including Daphne Zohar, founding CEO of PureTech Health and co-founder of Karuna, and Steven Paul, a former Eli Lilly executive and pivotal figure in Karuna’s success, are at the helm.
Seaport secured its $100 million Series A financing round through collaborations with ARCH Venture Partners and Sofinnova Investments. The company plans to utilize these funds to advance its clinical-stage pipeline of innovative neuropsychiatric medicines, which are built on the proprietary Glyph technology platform. This groundbreaking platform facilitates the delivery of small molecule therapeutics directly to the lymphatic system through oral administration.
Leading their ambitious pipeline is SPT-3001, an oral prodrug targeting anxious depression by leveraging the neurosteroid allopregnanolone, previously administered intravenously. Another promising candidate, SPT-3202, aims to transform the treatment landscape for generalized anxiety disorder by optimizing delivery to bypass liver metabolism, thereby reducing dosage requirements and enhancing patient safety.
Nvelop Therapeutics: Redefining Genetic Medicine Delivery
Massachusetts-based Nvelop Therapeutics, founded in 2022, has also secured $100 million from a consortium of investors including Newpath Partners, Atlas Venture, F-Prime Capital, and 5AM Ventures. The company is focused on creating programmable, non-viral vehicles for the precise delivery of therapeutic cargo in vivo.
The innovative platforms developed at the prestigious Broad Institute of MIT and Harvard and Massachusetts General Hospital by co-founders David Liu and Keith Joung aim to overcome the current limitations of genetic medicine delivery. Nvelop’s technology aspires to target historically inaccessible cells and tissues beyond the common confines of the eyes and liver.
Under the leadership of Jeff Walsh, former CFO of bluebird, as CEO, and Melissa Bonner, previously head of research at bluebird, now serving as Chief Scientific Officer, Nvelop is poised to push the boundaries of genetic therapy with an emphasis on safety and the diversity of the cargo their vehicles can carry.
Looking Forward
The emergence of Nvelop Therapeutics and Seaport Therapeutics with substantial financial backing marks a pivotal moment in biotechnology. As these companies stride forward, the medical community watches with anticipation, eager to see how these innovative approaches will revolutionize the treatment of complex genetic and neuropsychiatric disorders.
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