Seaport Therapeutics has secured $225 million in funding for the development of brain drugs.
The funding round was led by General Atlantic and included participation from investors such as T. Rowe Price Associates, Foresite Capital, Invus, Goldman Sachs Alternatives, and CPP Investments.
Seaport is currently advancing its most promising program, which involves an oral drug designed to enhance the delivery of allopregnanolone, a steroid that plays a crucial role in regulating neuronal responses to stimulation.
The company is also exploring a compound similar to melatonin for the treatment of generalized anxiety disorder and developing a drug aimed at addressing mood and neuropsychiatric disorders.
Seaport's innovative approach to drug development is supported by its proprietary "Glyph" drugmaking technology.
The recent funding round reflects investor confidence in Seaport's team and their expertise in developing drugs for the central nervous system.
The company's commitment to creating medications that improve efficacy and minimize side effects aligns with the growing demand for effective psychiatric treatments.
With the capital infusion, Seaport Therapeutics is well-positioned to make significant advancements in the treatment of mental health disorders.