Clinical-stage biopharmaceutical company Seaport Therapeutics launched today with the announcement of the closing of a $100 million oversubscribed series A financing round.
Arch Venture Partners, Sofinnova Investments, Third Rock Ventures, and Seaport founder PureTech Health participated in the round.
The financing will support the advancement of Seaport's pipeline of novel neuropsychiatric medicines, as well as its proprietary Glyph technology platform, which uses the lymphatic system to enable and enhance the oral administration of drugs.
In addition, Seaport announced the appointment of Daphne Zohar as founder, CEO, and a member of the board of directors and Dr. Steven M. Paul as founder and chair of the board of directors.
Zohar is the founder and former CEO of PureTech Health and co-founder of Karuna Therapeutics. Paul is the former CEO and chair of the board of directors of Karuna Therapeutics, which was recently acquired by Bristol Myers Squibb. He is also the former president of research and development at Eli Lilly.
