Seaport Therapeutics raises $225M series B

Seaport Therapeutics, a start-up developing psychiatric treatments, has raised $225 million in a series B funding round—for a total of $325 million since its launch in April. The company’s Glyph technology directs its drug candidates to the lymphatic system instead of the liver, a change that should decrease toxicity and increase bioavailability. Seaport’s lead candidate is SPT-300, a prodrug of allopregnanolone that is currently in Phase 2b trials to treat major depression. Investors include ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures, and PureTech Health, which cofounded the firm.