Biopharma firm raises $30M to advance neuro, derm tyrosine kinase 2 inhibitors
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An Indianapolis-area biopharmaceutical company announced it has raised $30 million in Series B financing to advance investigational tyrosine kinase 2 inhibitors for multiple sclerosis as well as dermatologic conditions.
According to a press release from Sudo Biosciences, the latest round of funding increases the total to $147 million toward the company’s CNS program, a brain penetrant TYK2 therapeutic intended to advance treatment of both the relapsing and progressive forms of MS, as well as neurodegenerative conditions such as Alzheimer’s disease and amyotrophic lateral sclerosis.
Sudo further stated in the release that it is working on a potential first and best-in-class topical TYK2 inhibitor for psoriasis and other immune-mediated dermatologic diseases.
“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 the clinic,” Sudo Biosciences CEO Scott Byrd said in the release. “This further funding enhances our ability to optimize the development of our pipeline programs.”