Seaport Therapeutics Secures 5 Million Series B Financing to Advance Innovative Neuropsychiatric Medicines

Seaport Therapeutics, a clinical-stage biopharmaceutical company, has announced the closing of a 5 million Series B financing round. The funding, led by General Atlantic and joined by other top-tier investors, will support the advancement of Seaport's pipeline of first and best-in-class neuropsychiatric medicines, as well as further development of the company's proprietary Glyph technology platform.

Unlocking the Potential of Clinically Validated Treatments

Overcoming Limitations with Innovative Technology

Seaport's pipeline of neuropsychiatric medicines is built on the foundation of the Glyph technology platform, which is designed to address the limitations that have previously hindered the development of clinically active drugs. The Glyph platform enables and enhances oral bioavailability, avoids first-pass metabolism, and reduces liver enzyme elevations or hepatotoxicity, allowing for the advancement of promising therapeutic candidates that were previously held back by these challenges.By leveraging the Glyph platform, Seaport is able to unlock the potential of clinically validated mechanisms and create first and best-in-class treatments for a range of neuropsychiatric disorders, including depression, anxiety, and mood disorders. The company's approach demonstrates a deep understanding of the complexities and unmet needs in the field of neuropsychiatry, positioning Seaport as a leader in the development of transformative therapies.

Advancing a Robust Pipeline of Promising Candidates

Seaport's pipeline includes several promising therapeutic candidates that are poised to make a significant impact on the lives of patients. The most advanced program, SPT-300, is an oral prodrug of allopregnanolone that is being advanced into a Phase 2b study for major depressive disorder with or without anxious distress. Allopregnanolone is an endogenous neurosteroid with clinically validated rapid anti-depressant and anxiolytic activity, and SPT-300 retains this activity in an oral form.Another key program, SPT-320, is a novel prodrug of agomelatine being advanced into Phase 1 studies for the treatment of generalized anxiety disorder (GAD). SPT-320 uses the Glyph platform to bypass liver first-pass metabolism, potentially lowering the dose and reducing liver exposure while maintaining the efficacious systemic exposure of agomelatine, which has been validated in multiple clinical studies in GAD.Seaport's pipeline also includes SPT-348, a prodrug of a non-hallucinogenic neuroplastogen in development for the treatment of mood and other neuropsychiatric disorders. This program leverages the Glyph platform to create a potential first-in-class treatment, further demonstrating the versatility and potential of the company's technology.

Assembling a Seasoned Team and Extensive Network

Seaport's success is underpinned by its experienced leadership team and extensive network of renowned scientists, clinicians, and key opinion leaders. The company's founders, Daphne Zohar and Steve Paul, M.D., have a proven track record of inventing and advancing important neuropsychiatric medicines, bringing a deep understanding of the field and a commitment to delivering transformative therapies.The strong support from the syndicate of top-tier investors, including General Atlantic, T. Rowe Price Associates, Foresite Capital, Invus, Goldman Sachs Alternatives, and CPP Investments, further validates the potential of Seaport's approach and the value it is generating through its unique R&D engine. This investment not only provides the necessary resources to advance the company's pipeline but also underscores the confidence in Seaport's ability to address significant unmet needs in neuropsychiatry.

Driving Innovation and Delivering Transformative Therapies

Seaport's 5 million Series B financing represents a significant milestone in the company's journey to develop innovative neuropsychiatric medicines. With the support of this stellar investor group, Seaport is poised to accelerate the advancement of its pipeline, leveraging the Glyph platform to overcome the limitations that have historically hindered the development of clinically active drugs.By addressing these challenges, Seaport is creating the potential for first and best-in-class treatments that can make a meaningful difference in the lives of patients suffering from depression, anxiety, and other neuropsychiatric disorders. The company's commitment to innovation and its deep expertise in the field position it as a leader in the development of transformative therapies that have the power to redefine the standard of care.As Seaport continues to drive progress across its pipeline, the broader healthcare community will be closely watching the company's advancements, eager to see the impact of its novel approach and the potential it holds for improving the lives of those in need.