Drug Discovery and Development Company Eikon Therapeutics Secures $350.7M

Biotechnology company Eikon Therapeutics has closed a $350.7 million Series D funding round. The company's drug discovery technologies, based on superresolution microscopy, automation, and high performance computing, enable visualization and measurement of the real-time movement of proteins in living cells and aim to speed the development of medicine. The company’s clinical portfolio includes drugs targeting various cancers.

“With clinical studies now operating in 28 countries, across 5 continents, we are accelerating the development of much-needed therapies while continuing to expand our research and development capabilities,” said Roger Perlmutter, CEO and chairman of Eikon Therapeutics.

Superresolution microscopy, developed by Eric Betzig and collaborators, earned its developers the Nobel Prize in chemistry in 2014. Eikon’s scientific advisory board includes Betzig, who is a co-founder of the company. Eikon Therapeutics previously raised a $518 million funding round in 2022, following its $148 million round in 2021. Since its founding in 2019, the company has privately raised more than $1.1 billion.