Septerna raises $150m in Series B funding round

12 Jul 2023
www.pharmaceutical-technology.com
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Septerna raises $150m in Series B funding round
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Source: Pharmaceutical Technology
A PTH1R agonistPTH1R agonist programme of Septerna is being developed to treat hypoparathyroidism. Credit: Kateryna Kon via Shutterstock.com.
Biotechnology firm Septerna has raised $150m in a Series B funding round to develop its pipeline of new oral small molecule therapies that act on G protein-coupled receptors (GPCRs).
New investor RA Capital Management led the round, with current investors Third Rock Ventures, Invus, Catalio Capital Management, Samsara BioCapital and BVF Partners among others taking part.
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RA Capital Management partner Jake Simson will join the board of directors of Septerna.
The proceeds will be utilised for portfolio development and to progress its lead parathyroid hormone 1 receptor (PTH1R) programme to clinical proof-of-mechanism.
This PTH1R agonistPTH1R agonist programme is being developed to treat hypoparathyroidism, a condition marked by reduced levels of PTH.
The company will also use the funds to advance the preclinical development of a second thyroid-stimulating hormone receptor-targeting programme and other initial-stage assets.
Septerna co-founder and CEO Jeffrey Finer stated: “This milestone marks an important transition for Septerna to a product-development company, with plans to advance our lead PTH1R programme to clinical proof-of-mechanism while building out a multi-product pipeline for a range of diseases.
“This is an exciting time for GPCR drug development, and we are eager to move our novel products toward clinical development.”
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