The financing will support the progression of Septerna’s lead programme, which targets the parathyroid hormone 1 receptor (PTH1R), towards achieving clinical proof-of-mechanism
Septerna secures $150m funding to develop GPCR-targeted medicines. (Credit: Louis Reed on Unsplash)
Septerna, a biotechnology company focused on the discovery and development of novel oral small molecule medicines that target G protein-coupled receptors (GPCRs), has announced the successful closure of a Series B financing round, raising $150m.
The company intends to utilise the funds to further advance its portfolio of innovative products that target well-established GPCRs. Specifically, the financing will support the progression of its lead program, which targets the parathyroid hormone 1 receptor (PTH1R), towards achieving clinical proof-of-mechanism.
Additionally, it will enable the preclinical advancement of its program targeting the thyroid stimulating hormone receptor (TSHR), as well as other assets in the earlier stages of development.
The Series B financing was led by RA Capital Management, a new investor in Septerna. Existing investors including Third Rock Ventures, Samsara BioCapital, Invus, Catalio Capital Management, BVF Partners, Casdin Capital, and Logos Capital also participated in the round. Moreover, the financing round attracted the participation of new investors such as Deep Track Capital, Goldman Sachs Asset Management, Vertex Ventures HC, Mirae Asset Financial Group, Driehaus Capital Management, Woodline Partners LP, Soleus Capital, and an undisclosed investor.
As part of the financing agreement, Jake Simson, Ph.D., a partner at RA Capital Management, will join Septerna’s board of directors, bringing valuable expertise to the company’s strategic decision-making process.
Septerna CEO and co-founder Jeffrey Finer said: “We are grateful for the support and enthusiasm from such a prestigious group of investors, which reflects the progress of our GPCR Native Complex Platform in delivering a pipeline of first-in-class small molecule programs for well-validated but difficult-to-drug GPCR targets.
“This milestone marks an important transition for Septerna to a product-development company, with plans to advance our lead PTH1R program 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. We have established an incredible team that continues to execute and believe Jake’s deep industry insights will be a valuable addition to our board as we continue our work to deliver medicines that improve the lives of patients.”
Septerna is dedicated to advancing its PTH1R agonist programme, which aims to address the treatment of hypoparathyroidism. Hypoparathyroidism is a debilitating condition characterised by an inadequate supply of parathyroid hormone (PTH), leading to imbalances in blood calcium and phosphate levels. This condition gives rise to a range of distressing symptoms, including fatigue, cognitive impairment, muscle weakness, and in severe cases, it can lead to seizures, irregular heart rhythms, and kidney dysfunction.
Currently, the available treatments for hypoparathyroidism only provide partial relief by supplementing the deficient PTH or employing PTH peptide replacements that require daily injections. However, Septerna is focused on developing a groundbreaking, first-of-its-kind oral small molecule PTH1R agonist. The new therapy is designed to effectively address the needs of all patients with hypoparathyroidism, offering a more convenient and comprehensive treatment option compared to existing approaches
Simson said: “Drugs developed to target GPCRs have transformed the treatment of several diseases; however, the majority of today’s treatments target just a few GPCR subfamilies.
“Septerna’s ability to isolate fully functional native GPCR proteins and rapidly identify candidate-like molecules has the potential to unlock a wide range of previously intractable GPCR targets across multiple therapeutic areas.
“We are encouraged by the preclinical data generated to date suggesting that its lead PTH1R program could offer a much-needed oral treatment for patients with hypoparathyroidism. The combination of the company’s robust pipeline, novel platform technology and highly talented team make Septerna an attractive opportunity with an exciting future.”