Seismic Therapeutic Concludes Series B Financing Round with $121 Million Raised
Seismic Therapeutic, Inc., a leading machine learning immunology company, has announced the successful closure of a $121 million Series B financing. The round was spearheaded by new investor Bessemer Venture Partners, with participation from other new investors including Amgen Ventures, Codon Capital, Alexandria Venture Investments, Gaingels, and GC&H, as well as existing investors such as Timothy A. Springer, Lightspeed Venture Partners, Polaris Partners, Boxer Capital, GV, and Samsara BioCapital, along with management and founders.
The proceeds from the Series B financing will be utilized to propel Seismic’s two lead programs through Phase 1 proof-of-mechanism trials. These programs include a pan-immunoglobulin (Ig) G protease sculpting (Sc) enzyme candidate (S-1117) and a PD-1 agonist:Fc gamma receptor IIb selective Dual-cell Bidirectional (DcB) antibody candidate (S-4321). Additionally, the funding will facilitate the expansion of the company’s pipeline in both the IgSc and DcB product areas, beyond the lead programs. Moreover, it will empower the company to further enhance its proprietary machine learning-enabled IMPACT platform through the development and implementation of advanced methodologies to augment biologics drug discovery in immunology. Concurrently with the financing, Andrew Hedin, MBA, a biotech and healthcare partner at Bessemer Venture Partners, will join Seismic’s board of directors.
Mr. Hedin expressed confidence in Seismic’s innovative approach to immunology drug development, driven by machine learning, and emphasized the potential of its lead programs to address unmet medical needs in autoimmune diseases.
Since its inception and the announcement of its Series A round, Seismic has made significant strides by advancing two programs into IND-enabling studies. This progress stems from Seismic’s integration of cutting-edge machine learning into drug development, specifically in the realm of biologics for immunology, powered by a diverse team of drug developers and machine learning innovators. With its unique approach and the IMPACT platform, Seismic has swiftly engineered novel biologics with drug-like properties through multi-parameter optimization. For its lead IgSc enzyme program, Seismic has engineered innovative pan-IgG proteases with reduced immunogenicity and chemical liabilities, while maintaining enzyme activity and stability, thereby creating a protease therapeutic to address multiple pathogenic mechanisms in the treatment of acute and chronic autoantibody-mediated diseases. Seismic’s lead DcB antibody program is designed to optimize the targeting of multiple cell types that drive autoimmune disease pathogenesis, specifically engaging 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 gratitude for the support of the strong syndicate of investors, highlighting Seismic’s potential to pioneer a new era of immunology drug development through the integration of machine learning. She emphasized the company’s commitment to advancing its lead programs into the clinic and harnessing advances in machine learning to improve the lives of patients with autoimmune diseases.
