Biopharmaceutical company Sudo Biosciences has successfully closed a Series B financing round, raising $116 million. The round was co-led by Enavate Sciences and TPG, with participation from TPG Life Sciences Innovations, The Rise Fund, Sanofi Ventures, Surveyor Capital, Monograph Capital, and Eventide Asset Management, as well as existing investors Frazier Life Sciences and Velosity Capital. Since its founding in 2020, Sudo has raised a total of $157 million.
The funds from the Series B financing will be utilized to advance two investigational TYK2 (tyrosine kinase 2) candidates into clinical trials next year. Sudo’s CNS program, a brain-penetrant TYK2 inhibitor, has the potential to significantly advance the treatment of multiple sclerosis (both relapsing and progressive forms), Alzheimer’s disease, and amyotrophic lateral sclerosis (ALS). Additionally, Sudo is developing a topical TYK2 inhibitor for psoriasis and other immune-mediated dermatologic diseases.
Scott Byrd, CEO of Sudo Biosciences, expressed gratitude for the support from premier life science investors, emphasizing the company’s commitment to advancing its TYK2 inhibitors and improving care for individuals with severe autoimmune and neurologic conditions.
Enavate Sciences, one of the co-leaders of the funding round, highlighted its attraction to Sudo due to the excellent science, experienced management team, and clinical potential of its TYK2 inhibitors, especially in addressing unmet needs in severe neurologic diseases.
TPG Life Sciences Innovations, another co-leader, expressed excitement about partnering with Sudo to explore therapeutic applications for TYK2 inhibition in neuroinflammation and autoimmune diseases. The promising pre-clinical data for Sudo’s CNS and dermatology TYK2 programs underscore TYK2’s potential as a therapeutic target in these areas.
As part of the financing, Edd Fleming, Shinichiro Fuse, and Chris Gagliardi, PhD, will join Sudo Biosciences’ Board of Directors.