Septerna – a biotechnology company discovering and advancing novel oral small molecule medicines targeting G protein-coupled receptors (GPCRs) – recently announced the closing of a $150 million Series B financing. And the company will use the funds to continue the development of its portfolio of novel products targeting well-validated GPCRs, including the advancement of its lead program targeting the parathyroid hormone 1 receptor (PTH1R) to clinical proof-of-mechanism and preclinical advancement of its program targeting thyroid stimulating hormone receptor (TSHR) and other earlier stage assets.
The Series B funding round was led by new investor RA Capital Management, with participation from existing investors Third Rock Ventures, Samsara BioCapital, Invus, Catalio Capital Management, BVF Partners, Casdin Capital, and Logos Capital, as well as additional new investors Deep Track Capital, Goldman Sachs Asset Management, Vertex Ventures HC, Mirae Asset Financial Group, Driehaus Capital Management, Woodline Partners LP, Soleus Capital, and an additional undisclosed investor. In conjunction with the financing, Jake Simson, Ph.D., partner at RA Capital Management, will join Septerna’s board of directors.
The company is developing its PTH1R agonist program to treat hypoparathyroidism, a harmful condition characterized by the parathyroid hormone (PTH) deficiency that controls blood calcium and phosphate levels. Hypoparathyroidism results in a wide range of debilitating symptoms, including fatigue, brain fog, and muscle weakness, and in severe cases, can lead to seizures, heart arrhythmias, and kidney failure. Currently, available treatments for hypoparathyroidism include supplements that only partially address PTH deficiency or PTH peptide replacements – which require daily injections. Septerna is focused on developing a first-in-class, oral, small-molecule PTH1R agonist designed to treat all patients with hypoparathyroidism.
KEY QUOTES:
“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.”
— Jeffrey Finer, M.D., Ph.D., chief executive officer and co-founder of Septerna
“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.”
— Dr. Simson
“Septerna is working to usher in a new era for discovery and development of GPCR-targeted medicines and we are pleased to continue backing this terrific team and bold mission. The company continues to make meaningful progress across its portfolio and has the talent, assets and perseverance to create transformational therapeutics that can positively impact the lives of many patients in the future.”
— Jeffrey Tong, Ph.D., chairman of the board of Septerna and partner at Third Rock Ventures
