US-based biopharmaceutical startup Eikon Therapeutics raises USD 517.8 million in Series B

Eikon Therapeutics, Inc., a biopharmaceutical startup employing revolutionary technology at the interface of biology, engineering and chemistry to unearth novel treatments for life-threatening diseases, has raised USD 517.8 million in a Series B funding round from EcoR1 Capital and others on 6 January 2022. Eikon has also completed the recruitment of an experienced team of industry executives to senior leadership positions.

Investors: New investors participated in the round include funds and accounts advised by T. Rowe Price Associates, Inc., ADIA, Canada Pension Plan Investment Board (CPP Investments), UC Investments (Office of the CIO of the Regents of the University of California), StepStone Group, EcoR1 Capital, Soros Capital, Schroders Capital, Harel Insurance, General Catalyst, E15 VC, Hartford HealthCare Endowment, and AME Cloud Ventures. In addition, existing investors, including The Column Group, Foresite Capital, Innovation Endeavors, Lux Capital, and Horizons Ventures, also contributed to the round.

The Objectives behind the funding: The company plans to deploy the current proceeds to accelerate its platform development, swiftly scale the organization, and advance multiple discovery programs.

About Eikon Therapeutics

Founded in 2019, Eikon Therapeutics is a drug discovery and development company. Its platform offers a novel treatment for life-threatening diseases. The company’s platform leverages Nobel Prize-winning super-resolution microscopy, advanced engineering, and automation to bring important new medicines to patients suffering from grievous illnesses.

What the Founder has to say:

“Through the integration of advanced engineering and high-performance computing, alongside more traditional molecular biology and medicinal chemistry, Eikon is developing a battery of innovative tools for biological exploration,” said Roger M. Perlmutter, MD, PhD, CEO and Chairman of the Board of Eikon Therapeutics. “With the support of our investors, we continue to make dramatic progress in the industrialization of our live-cell imaging platform. We will use the resources of this new financing to progress more quickly toward our mission of inventing innovative medicines that will improve and extend life.”

What the Investors have to say:

“Eikon’s research at the intersection of technology, biology, and chemistry is generating significant volumes of quantitative information about the dynamic behaviour of proteins. These insights are useful not only for biomedical research purposes, but they also hold promise for therapeutic development,” said John Hall, PhD, Investment Analyst at T. Rowe Price. “We are pleased to support Eikon’s world-class interdisciplinary team as they work to develop proprietary technology platforms for the evaluation of biological systems and to accelerate the introduction of breakthrough medicines.”

“By successfully integrating robotics, high-performance computing and advanced data analytics, Eikon has built a drug hunting biofactory of the future. The company’s proprietary single-particle tracking platform enables them to peer into live cells, in real-time, and derive biological insights never visualized before,” said Adam Goulburn, PhD, Partner at Lux Capital. “Combining this pioneering platform with Roger’s leadership and the Eikon team’s drug development pedigree puts the company at the very forefront of discovery in the biotech industry.”

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