Venture Capital: Rapport Therapeutics Raises $150 Million For Precision Neuromedicines

August 24, 2023 | News, Venture Capital

“Rapport is pursuing a unique approach that exploits novel molecular insights with the goal of targeting ion channel receptors with unprecedented precision,” the company said.

Rapport Therapeutics, a clinical-stage biotechnology company focused on precision neuromedicines, has successfully raised $150 million in a Series B funding round. The funding will support ongoing clinical programs targeting seizure and psychiatric disorders, as well as the advancement of their precision neuromedicine discovery platform. The investment was led by Cormorant Asset Management and included participation from various notable investors including Fidelity Management & Research Company, Goldman Sachs Asset Management, Logos Capital, Perceptive Advisors, Sofinnova Investments, Surveyor Capital (a Citadel company), and funds and accounts advised by T. Rowe Price Associates, Inc.

As part of the funding round, Rapport has also appointed two new members to its Board of Directors: Dr. Raymond Kelleher from Cormorant Asset Management and Dr. James Healy from Sofinnova Investments.

Rapport’s approach involves leveraging receptor-associated proteins (RAPs) to precisely target receptors in specific regions of the nervous system implicated in neurological disorders. This approach is distinct from current treatments that target more broadly expressed receptors. The company aims to improve treatment efficacy and minimize side effects through this precision approach.

The company’s first program, focused on treating drug-resistant seizure disorders, is currently in Phase 1 clinical studies. Rapport is striving to bring about advancements in precision neuromedicine to offer better treatment options for neurological diseases while addressing issues like reduced efficacy and side effects associated with existing treatments.

Related Story: Elon Musk’s Neuralink Raises $280M Round Led By Founders Fund

Photo by Milad Fakurian on Unsplash

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