Biotech Eikon Therapeutics Raises $350 Million

HAYWARD, Calif — February 26, 2025 — Eikon Therapeutics, Inc., a California-based biopharmaceutical company, has announced the successful raising of $350.7 million in Series D funding, marking one of 2025's largest VC investments in biotechnology. Founded in 2019, Eikon Therapeutics specializes in live-cell resolution microscopy for drug discovery.

✦ This article is part of a series from Healthcare Insights on 2025 Trends in Venture Capital for Biotech. Subscribe to our free mailing list to read the latest, and follow us @healthcareinsightsny.

In a press release Thursday, Eikon outlined plans to utilize the Series D funding to advance its clinical-stage programs and future pipelines. Since its inception, Eikon has privately raised approximately $1.1 billion, all aimed at developing new medicines addressing grievous illnesses.

Key Investors

Lux Capital

Alexandria Venture Investments

T. Rowe Price Associates, Inc.

UC Investments (Office of the Chief Investment Officer of the Regents of the University of California)

Roger M. Perlmutter, M.D., Ph.D., CEO, who also serves as Board Chair of Eikon Therapeutics, recently highlighted the company's remarkable advancements in its clinical pipeline. "Eikon has made significant strides in both our pivotal-stage clinical trials and early-stage development programs," he noted.

This financing will provide the resources necessary to build a "fully integrated, 21st-century biotechnology company," enabling Eikon to leverage advancements in computing, data sciences, and experience in bringing innovative medicines to patients, as explained by Perlmutter.

Eikon's Clinical Portfolio

Eikon's primary program, EIK1001, a systemically administered co-agonist targeting toll-like receptors 7 and 8, has advanced to Phase III trials for advanced melanoma. EIK1001 has shown single-agent efficacy and promising combination activity with anti-PD-(L)1 agents across various tumor types.

The company’s portfolio also includes EIK1003, a selective PARP1 inhibitor in Phase 1 trials for breast, ovarian, prostate, and pancreatic cancers. Another candidate, EIK1004, is a CNS-penetrant PARP1-selective inhibitor, awaiting Phase 1 trials to target brain cancers. Further, Eikon is developing two androgen receptor antagonists and an internally derived WRN inhibitor, EIK1005, for potential use in patients with MSI-high and other DNA repair-deficient cancers.

In a significant endorsement of Eikon's pioneering advancements in the field of biotechnology, Josh Wolfe, Co-founder and Managing Partner of Lux Capital, emphasized the transformative potential of the company's cutting-edge technology. Wolfe remarked, "By harnessing its proprietary single-molecule tracking technology, Eikon is uncovering the biological processes in living cells with unprecedented precision, generating insights at a pace previously unattainable."

Eikon Therapeutics continues to establish its prominence in the biotech sector, leveraging data science and high-performance computing. The industry will undoubtedly keep a close eye on Eikon as its portfolio continues to thrive.

Leading in Biotech Funding for 2025

However, it's London-based Verdiva Bio that currently tops the 2025 venture rounds, creating groundbreaking treatments for obesity, cardiometabolic diseases, and related conditions with a patient-friendly approach.

Verdiva Bio successfully raised $410 million in a Series A round, primarily focused on oral and injectable GLP-1 treatments for obesity and cardiometabolic disorders. Analysts are observing Verdiva Bio closely post-Q1 2027, as another funding round is anticipated.

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