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Seaport Therapeutics Raises Mega Funding Round For New Antidepressants

October 22, 2024
x min read
Seaport Therapeutics funding round

There’s a biotechnology company being backed by some of the largest venture capitalists in drug development. And they are aiming to build a new paradigm for psychiatric drugs.

What’s happening:

  • PureTech Health (NASDAQ: PRTC) has announced that their founded entity Seaport Therapeutics has raised $225M USD in a Series B financing round
  • The new round of funding was led by General Atlantic and included participation from ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures and others

Why it matters:

By the numbers:

  • Since inception, Seaport Therapeutics has raised $325M USD in venture capital funding
  • Following the Series B financing round, PureTech Health owns approximately 36% of Seaport Therapeutics

Going deeper:

  • Seaport Therapeutics is developing new types of therapeutics for both major depressive disorder and generalized anxiety disorder, leveraging a proprietary technology platform that enhances oral bioavailability and reduces common side effects of traditional psychiatric drugs

The intrigue:

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