Finance Watch: Perlmutter’s Eikon Raises $106m, In-Licenses Pipeline Programs

Start-Up Has Raised Nearly $775m To Date

 
• By Mandy Jackson
  
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Private Company Edition: Former Merck R&D head Roger Perlmutter and his new team have accessed drug candidates in oncology and neurodegenerative diseases from three companies, along with new funding. Also, Carmot raised $150m in series E equity and BenchSci brought in $70m.

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Eikon Therapeutics, Inc. announced the first venture capital mega-round of $100m or more for June, revealing that it raised $106m in the first tranche of a series C funding round on 1 June. The financing news was overshadowed, however, by the company’s disclosure that it in-licensed several preclinical and clinical-stage drug candidates from three different companies, providing some insight into Eikon’s therapeutic focus after three and a half years of mystery despite its significant fundraising to date.

Hayward, CA-based Eikon was founded in late 2019 with plans to use super-resolution microscopy to elucidate the behavior of proteins...

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