Rapport Therapeutics raises $150M in funding to advance neuromedicine platform
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A clinical-stage biotechnology company announced that it has raised $150 million in funding to advance its neuromedicine platform.
According to a release from Rapport Therapeutics, the fundraising was led by Cormorant Asset Management and includes investments from Fidelity Management & Research Co., Goldman Sachs Asset Management, Logos Capital, Perceptive Advisors, Sofinnova Investments, Surveyor Capital and T. Rowe Price Associates Inc.
The Series B funding is intended to allow Rapport to leverage scientific research that will target receptors in specific neuroanatomical regions that are indicative of pathophysiology of neurological disorders, the company said in the release.
The platform seeks to identify and target receptor-associated proteins that allow for higher specificity in drug development, differing from existing therapeutics that act on targets expressed throughout the nervous system or other areas of the body, per the release.
“We are appreciative for the support of such a prominent group of new investors,” Rapport CEO Abraham Ceesay said in the release. “We are poised for tremendous growth and look forward to pursuing a wide variety of opportunities to serve patients who desperately need more effective treatments.”