Wednesday, April 24, 2024
HomeFunding IN-based Biopharmaceutical Company Sudo Biosciences Secures $116M in Series B Round...

[Funding alert] IN-based Biopharmaceutical Company Sudo Biosciences Secures $116M in Series B Round Funding

IN-based Biopharmaceutical Company Sudo Biosciences Secures $116M in Series B Round Funding. The Company has raised a total of $157 million funding since its founding in 2020.

IN-based Biopharmaceutical Company Sudo Biosciences Secures $116M in Series B Round Funding. The Company has raised a total of $157 million funding since its founding in 2020.

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This round was co-led by Enavate Sciences and TPG, which is investing in the company through TPG Life Sciences Innovations and The Rise Fund, with participation from Sanofi Ventures, Surveyor Capital (a Citadel company), Monograph Capital, and Eventide Asset Management as well as existing investors Frazier Life Sciences and Velosity Capital.

The Series B funding will be used to advance two investigational TYK2 candidates into the clinic next year. Sudo’s CNS program is a potential first and best-in-class brain-penetrant TYK2 inhibitor that has the potential to significantly advance the treatment of both the relapsing and progressive forms of multiple sclerosis as well as neurodegenerative conditions such as Alzheimer’s disease and amyotrophic lateral sclerosis (ALS).

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Scott Byrd, CEO, Sudo Biosciences said, “We are thankful for the support of our premier life science investors, which will allow us to advance our two development candidates into the clinic, With this financing, we are well positioned to progress our pipeline of next generation TYK2 inhibitors and pursue our mission of improving care for the millions of people living with multiple sclerosis, psoriasis and other severe autoimmune and neurologic conditions.”

Edd Fleming, MD, Executive Vice President, Commercialization, Enavate Sciences said, “We were attracted to Sudo by the excellent science, experienced management team, and clinical potential of its brain-penetrant and topical allosteric TYK2 inhibitors, Severe neurologic diseases such as progressive forms of MS, Alzheimer’s and ALS have limited treatment options, and we believe Sudo’s CNS program has the potential to address these unmet needs.”

Shinichiro Fuse, PhD, Business Unit Partner with TPG Life Sciences Innovations said, “We are excited to partner with the Sudo team to unlock the potential therapeutic applications for TYK2 inhibition in neuroinflammation and autoimmune diseases, The pre-clinical data with Sudo’s CNS and dermatology TYK2 programs are very promising and support TYK2’s potential as a target in these therapeutic areas.”

About Sudo Biosciences

Sudo Biosciences is a biopharmaceutical company committed to designing and developing novel medicines to transform patients’ lives. The company’s programs target the tyrosine kinase 2 (TYK2) pseudokinase domain.

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TYK2 is a key mediator in cytokine signaling pathways that have been linked to a broad range of immune-mediated inflammatory conditions.

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