R&D

Biotechnology company Eikon Therapeutics has announced the initial closing of its Series D funding round, securing $350.7m to support its current therapeutic pipeline and contribute to its goal of integrating advanced engineering with molecular and cell biology.

Eikon’s lead programme, EIK1001, is a systematically administered co-agonist of toll-like receptors 7 and 8, and is indicated as a therapeutic for advanced melanoma. Currently in phase 3 trials, it has demonstrated its efficacy as a single agent as well as combined with anti-PD-(L)-1agents across multiple tumour types. The company is also advancing EIK1003, a highly selective PARP1 inhibitor currently in phase 1 in patients with breast, ovarian, prostate or pancreatic cancers, as well as EIK1004, a preclinical central nervous system-penetrant PARP1-selective inhibitor.

The Series D financing round was led by existing investors, with Eikon’s investment syndicate being comprised of top mutual funds, sovereign wealth finds, and healthcare and technology-focused venture firms.

Roger M Perlmutter MD PhD, CEO and board chair of Eikon Therapeutics, stated: “Eikon has made remarkable progress in advancing a pivotal-stage clinical pipeline and early-stage development programme powered by our single-molecule tracking technology and the deep expertise of our multidisciplinary team. With clinical studies now operating in 28 countries, across five continents, we are accelerating the development of much-needed therapies while continuing to expand our R&D capabilities. This financing provides the resources necessary to build a fully-integrated, 21st century biotechnology company that leverages advanced computing, data sciences and decades of experience in bringing innovative medicines to patients. The continued support of our world-class syndicate of investors is a testament both to the progress we have already made, and to the confidence of investors in our ability to deliver important new medicines for the world.”