Seaport Therapeutics Closes $225 Million Financing Round

Neuropsychiatric medicines company Seaport Therapeutics has closed an oversubscribed $225 million Series B financing round. The financing brings the total capital raised by Seaport to $325 million since the company’s launch in April 2024. Seaport will use the proceeds to advance its clinical-stage pipeline of first and best-in-class medicines through important clinical milestones as well as further advance the capabilities of its Glyph technology platform, which has demonstrated clinical proof-of-concept.

“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,” said Daphne Zohar, Founder and CEO of Seaport Therapeutics.

The Glyph platform is designed to enable and enhance oral bioavailability, avoid first-pass metabolism and reduce liver enzyme elevations or hepatotoxicity and other side effects to advance clinically active drugs that were previously hindered by those limitations. The most advanced therapeutic candidate in the pipeline is being advanced into a Phase 2b study for major depressive disorder that has the potential to be registration-enabling.

Glyph uses the lymphatic system to enable and enhance the oral administration of drugs. With the Glyph platform, drugs are absorbed like dietary fats through the intestinal lymphatic system and transported into circulation. The Glyph platform has the potential to be widely applied to many therapeutic molecules that have high first-pass metabolism leading to low bioavailability and/or side effects, including liver enzyme elevations or hepatotoxicity. (Source: Seaport Therapeutics Website, 21 October, 2024)