Eikon Therapeutics was co-founded by UC Berkeley researchers, one of whom has already received a Nobel Prize for the underlying technology.
Eikon Therapeutics, a US-based drug discovery and development company co-founded by University of California (UC), Berkeley researchers, has completed a $517.8m series B round from investors including UC Investments.
Insurance provider Harel Insurance took part in the round, as did T Rowe Price Associates, Canada Pension Plan Investment Board, EcoR1 Capital, StepStone Group, Soros Capital, Schroders Capital, General Catalyst, E15 VC and Hartford HealthCare Endowment.
Abu Dhabi Investment Authority’s ADIA subsidiary and AME Cloud Ventures were also among the investors, as were existing shareholders Column Group, Foresite Capital, Innovation Endeavors, Lux Capital, and Horizons Ventures.
Founded in 2019, Eikon Therapeutics is building on super-resolution microscopy that enables the precise characterisation of protein interactions in living cells – offering a much more comprehensive insight than the static snapshots of frozen materials that are currently used.
Eikon plans to focus on previously undruggable targets, though it has not revealed details yet.
Its underlying technology was created by co-founder Eric Betzig, whose appointments at UC Berkeley include professor of molecular and cell biology. He received the 2014 Nobel Prize in Chemistry for the development of the technology.
Roger Perlmutter, chief executive and chairman of Eikon, said: “Through the integration of advanced engineering and high-performance computing, alongside more traditional molecular biology and medicinal chemistry, Eikon is developing a battery of innovative tools for biological exploration.
“With the support of our investors, we continue to make dramatic progress in the industrialisation of our live-cell imaging platform. We will use the resources of this new financing to progress more quickly toward our mission of inventing innovative medicines that will improve and extend life.”
Eikon Therapeutics has now raised more than $668m in funding, it confirmed. Column Group led a $148m series A round in May 2021, with participation from Foresite Capital, Innovation Endeavors and Lux Capital.
