Seaport Therapeutics
Overview
Seaport Therapeutics is a biotechnology company founded in April 2024. It focuses on developing novel neuropsychiatric medicines that leverage the proprietary Glyph™ technology platform. The company, based in Boston, aims to advance treatments for depression, anxiety, and other mental health disorders. Seaport was launched with an initial Series A funding round of $100 million, co-led by ARCH Venture Partners, Sofinnova Investments, and Third Rock Ventures. Daphne Zohar, a co-founder of PureTech Health, serves as the CEO, with Steven M. Paul as the Chair of the Board.
Recent Developments
- October 2024: Seaport Therapeutics has raised an additional $225 million in a Series B financing round, increasing the total funds raised to $325 million since its inception. The round was led by General Atlantic, alongside participation from T. Rowe Price Associates, Foresite Capital, Goldman Sachs Alternatives, and others. Founding investors ARCH Venture Partners, Sofinnova Investments, and Third Rock Ventures also participated. This funding will be utilized to further progress the company's clinical-stage pipeline and refine the Glyph technology platform. The platform is designed to enhance oral drug bioavailability and minimize side effects by avoiding first-pass metabolism.
- June 2024: Seaport expanded its executive team by appointing Antony Loebel, M.D., as Chief Medical Officer and President of Clinical Development, and Lana Gladstein, J.D., as General Counsel. The company aims to leverage their extensive experience to accelerate its clinical programs.
- April 2024: Shortly after its launch, Seaport Therapeutics completed a $100 million Series A funding round to support the development of its proprietary Glyph platform and advance its clinical pipeline of neuropsychiatric medicines. The company aims to address major unmet needs in mental health treatment by enhancing the bioavailability of oral therapeutics.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | April 2024 |
| Headquarters | Boston, MA |
| Founders | Daphne Zohar, Michael Chen, Steven Paul, Bharatt Chowrira, Eric Elenko |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | General Atlantic, T. Rowe Price Associates, Foresite Capital, Goldman Sachs Alternatives, CPP Investments, ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures, PureTech Health |
| Industry | Biopharmaceuticals |
| Number of Employees | 22 |
Early History
Seaport Therapeutics was established in April 2024 as a spin-off from PureTech Health. The company's foundation leveraged the experience and expertise of its founders who previously worked on significant neuropsychiatric drugs like KarXT at Karuna Therapeutics. With backing from major investment firms secured through an oversubscribed Series A round, Seaport set out to utilize its Glyph platform to overcome the limitations of first-pass metabolism and systemic toxicity in drug development. Beyond individual projects, the company was built to rapidly advance neuropsychological medicines efficiently using its unique technology platform.
Company Profile and Achievements
Seaport Therapeutics focuses on the development and commercialization of first-in-class neuropsychiatric medicines by applying clinically validated mechanisms. Its unique Glyph™ platform enables the oral administration of compounds that typically suffer from low bioavailability and high liver metabolism. This proprietary platform facilitates the absorption of drugs through the lymphatic system, enhancing their therapeutic impact and reducing side effects like hepatotoxicity.
Key Milestones:
- April 2024: Launch and Series A funding achievement of $100 million to kickstart the company's operations and research pipeline.
- Glyph Platform Creation: Collaborated with Monash University to utilize the Glyph technology, initially developed by Professor Christopher Porter's team.
- SPT-300 Development: Advancing SPT-300, an oral prodrug of allopregnanolone, into Phase 2b trials for major depressive disorder, leveraging its neurosteroid properties for clinically proven antidepressant effects.
- Expansion into several preclinical and clinical-stage programs focusing on anxiety, depression, and other neuropsychiatric disorders.
Current Operations and Market Position
Seaport Therapeutics currently operates as a clinical-stage biopharmaceutical entity with its headquarters in Boston, focusing on advancing treatment for mental health disorders. It is utilizing its significant financial backing to reach key clinical milestones with its lead candidate, SPT-300, and further develop potential therapies using the Glyph platform. The company aims to provide new solutions in a field with limited advancements over the years by addressing key pharmaceutical challenges related to liver metabolism. With ongoing clinical trials, strategic leadership, and a robust R&D pipeline, Seaport positions itself ambitiously within the neuropsychiatric therapeutic industry.
Conclusion
Seaport Therapeutics, though newly established, has rapidly gained a solid foothold in the biopharmaceutical industry through its innovative approaches targeting neuropsychiatric disorders. Its commitment to leveraging pioneering technologies like the Glyph platform demonstrates its potential to impact and improve mental health treatment significantly. Moving forward, Seaport's focus on advancing its drug pipeline and achieving clinical milestones positions it for potential growth and success in high-demand therapeutic areas. This ambitious approach, combined with substantial financial investment, primes Seaport for influential developments in neuropsychiatry, fostering optimism for ongoing and future contributions to mental health treatment options.