Sudo Biosciences has secured an additional $30m in its second round of Series B funding to progress the development of its tyrosine kinase 2 (TYK2) inhibitors into clinic.
The recent financing includes contributions from new investors: the SV Health Investors Fund, the Dementia Discovery Fund, UPMC Enterprises and Leaps by Bayer.
The Series B round was led by Enavate Sciences and TPG, with participation from a cohort of investors including Sanofi Ventures, Frazier Life Science and Surveyor Capital.
This investment brings the funds raised in this round to a total of $147m and the overall funding since the company’s inception to $188m.
The funds will be directed towards advancing two investigational TYK2 candidates into the clinic in 2024.
Sudo’s pipeline targets the TYK2 pseudokinase domain, with a focus on developing treatments for multiple sclerosis, neurodegenerative diseases and immune-mediated dermatologic diseases.
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The TYK2 inhibitors include a brain-penetrant candidate to treat multiple sclerosis and neurodegenerative diseases with underlying neuroinflammation as well as a topical candidate for the treatment of immune-mediated dermatologic ailments.
Both TYK2 inhibitor candidates will enter clinical trials in 2024.
Sudo Biosciences CEO Scott Byrd stated: “We are pleased to welcome these new investors as they each offer unique strategic value which will be meaningful for Sudo as we advance our precision TYK2 inhibitors into clinic.
“This further funding enhances our ability to optimise the development of our pipeline programmes.”
SV Health Investors partner Jonathan Behr stated: “We are happy to partner with Sudo on the Series B second closing and be a catalyst to enable the company to generate clinical data with these potential first and best-in-class brain-penetrant TYK2 inhibitors in multiple neuroinflammatory diseases. Specifically, we see scope to expand beyond MS into Alzheimer’s and ALS.”
