TL;DR:
- Seismic Therapeutic secures $121 million in Series B financing.
- New investor Bessemer Venture Partners leads the round, joined by prominent new and existing investors.
- Funds to advance Phase 1 trials for lead immunology programs and expand the pipeline.
- Investment supports the growth of the machine learning-enabled IMPACT platform.
- Andrew Hedin from Bessemer Venture Partners joins Seismic’s board of directors.
- Seismic’s innovative approach combines machine learning with drug development expertise.
- The company rapidly engineers biologics for immunology, addressing autoimmune diseases in novel ways.
Main AI News:
In a significant development, Seismic Therapeutic, Inc., the pioneering machine learning immunology company, has successfully closed a substantial $121 million Series B financing round. This milestone was led by the esteemed Bessemer Venture Partners, a new addition to Seismic’s impressive list of investors, alongside notable newcomers Amgen Ventures, Codon Capital, Alexandria Venture Investments, Gaingels, and GC&H. Additionally, the round saw continued support from existing investors, including luminaries like Timothy A. Springer, Lightspeed Venture Partners, Polaris Partners, Boxer Capital, GV, Samsara BioCapital, as well as the management and founders of Seismic Therapeutic.
The infusion of capital from this Series B financing will be strategically allocated to propel Seismic’s two lead programs through Phase 1 proof-of-mechanism trials. These groundbreaking programs consist of a pan immunoglobulin (Ig) G protease sculpting (Sc) enzyme candidate, known as S-1117, and a PD-1 agonist: Fc gamma receptor IIb selective Dual-cell Bidirectional (DcB) antibody candidate, identified as S-4321. Beyond advancing the lead programs, this funding will further bolster the company’s pipeline in the IgSc and DcB product domains. Moreover, it will empower Seismic Therapeutic to expand its proprietary machine learning-enabled IMPACT platform, leveraging cutting-edge methods to elevate biologics drug discovery within the realm of immunology. An exciting development accompanying this financing is the addition of Andrew Hedin, MBA, a distinguished biotech and healthcare partner from Bessemer Venture Partners to Seismic’s board of directors.
Commenting on this momentous occasion, Mr. Hedin stated, “Seismic has made impressive achievements in a short time, integrating the power of machine learning with its deep drug development expertise to create two differentiated lead programs, each offering a compelling opportunity to address unmet medical needs in autoimmune diseases in a new way. We look forward to collaborating with the Seismic team to realize the full potential of its unique approach to immunology drug development, enabled by machine learning.”
Since its inception and the announcement of its Series A round, Seismic Therapeutic has made substantial strides by advancing two programs into IND-enabling studies. This remarkable progress is a testament to Seismic’s fusion of state-of-the-art machine learning with drug development expertise, specifically in the biologics for immunology field. The company’s diverse team of drug developers and machine learning innovators has been instrumental in this journey. Through the implementation of its IMPACT platform, Seismic has swiftly engineered novel biologics characterized by drug-like properties and multi-parameter optimization. For instance, in the lead IgSc enzyme program, Seismic has devised innovative pan-IgG proteases that significantly reduce B cell and T cell immunogenicity while preserving enzyme activity and stability. This achievement has paved the way for a protease therapeutic capable of addressing multiple pathogenic mechanisms in the treatment of acute and chronic autoantibody-mediated diseases. Similarly, in the lead DcB antibody program, Seismic has strategically optimized the targeting of various cell types responsible for driving autoimmune disease pathogenesis. This is achieved through the engagement of T cells via PD-1 agonism and antigen-presenting cells via the inhibitory Fc gamma receptor.
Dr. Jo Viney, Founder, President, and CEO of Seismic Therapeutic, expressed her delight at securing support from such a formidable syndicate of investors who share in the vision of Seismic’s pioneering role in revolutionizing immunology drug development through machine learning. She affirmed that this financing will further propel their momentum and advance both of their exciting lead programs into clinical development, marking an auspicious moment to harness machine learning advances for the discovery of the next generation of biologics drugs aimed at enhancing the lives of patients grappling with autoimmune diseases.
Conclusion:
Seismic Therapeutic’s successful Series B financing not only reaffirms investor confidence in its machine learning-driven approach to immunology but also positions the company as a frontrunner in revolutionizing drug development. With substantial funding and strategic partnerships, Seismic is poised to bring innovative treatments for autoimmune diseases to the market, leveraging its unique blend of cutting-edge technology and pharmaceutical expertise. This development signals increased competition in the immunology sector and emphasizes the growing importance of artificial intelligence in biopharmaceutical research and development.
