Eikon Therapeutics, a pivotal-stage biotechnology company that integrates advanced engineering with cutting-edge molecular and cell biology to accelerate drug discovery and development, announced the initial closing of a $350.7 million Series D funding round.
This investment syndicate is composed of top mutual funds, sovereign wealth funds, and healthcare and technology-focused venture firms including Lux Capital, Alexandria Venture Investments, AME Cloud Ventures, The Column Group, E15 VC, Foresite Capital, General Catalyst, Soros Capital, StepStone Group, funds and accounts advised by T. Rowe Price Associates, Inc., and UC Investments (Office of the Chief Investment Officer of the Regents of the University of California), among others. Since being founded in 2019, Eikon Therapeutics privately raised over $1.1 billion to support its mission of developing new medicines to address grievous illnesses.
Eikon’s clinical portfolio was anchored by its lead program, EIK1001 – a systemically administered co-agonist of toll-like receptors 7 and 8 now in a Phase III trial for advanced melanoma. And EIK1001 has shown single-agent efficacy and promising in-combination activity with anti-PD-(L)1 agents across multiple tumor types. In parallel, the company is advancing EIK1003, a highly selective PARP1 inhibitor currently undergoing Phase 1 evaluation in patients with breast, ovarian, prostate, or pancreatic cancers, and EIK1004, a central nervous system-penetrant PARP1-selective inhibitor poised to initiate Phase 1 studies targeting brain cancers.
Eikon’s early-stage pipeline includes two androgen receptor antagonists and an internally derived WRN inhibitor (EIK1005) that is being studied for its potential as a therapy for patients with MSI-high and other DNA repair–deficient cancers.
KEY QUOTES:
“Eikon has made remarkable progress in advancing a pivotal-stage clinical pipeline and early-stage development program powered by our single-molecule tracking technology and the deep expertise of our multidisciplinary team. With clinical studies now operating in 28 countries, across 5 continents, we are accelerating the development of much-needed therapies while continuing to expand our research and development capabilities. This financing provides the resources necessary to build a fully-integrated, 21st-century biotechnology company that leverages advanced computing, data sciences, and decades of experience in bringing innovative medicines to patients. The continued support of our world-class syndicate of investors is a testament both to the progress we have already made, and to the confidence of investors in our ability to deliver important new medicines for the world.”
– Roger M. Perlmutter, M.D., Ph.D., CEO and Board Chair of Eikon Therapeutics
“Eikon has engineered a next-generation drug discovery engine that seamlessly integrates automation, high-performance computing, and advanced data science to transform how new medicines are developed. By harnessing its proprietary single molecule tracking technology, Eikon is uncovering biological processes in living cells with an unprecedented level of precision, generating insights at a pace that was previously out of reach. With a skilled leadership team that is deeply experienced in bringing groundbreaking therapies to patients, Eikon is setting a new standard for innovation in biotechnology.”
– Lux Capital Co-founder and Managing Partner Josh Wolfe
