Eikon Therapeutics Raises $350 Million in Series D Funding to Advance Oncology Pipeline
The funding, led by existing and new investors, is expected to support Eikon’s efforts to integrate advanced computing, automation, and data science that drives innovation in drug development.
Image Credit: Adobe Stock Images/Kookkii
Eikon Therapeutics has secured $350.7 million in Series D financing to advance its clinical stage programs and expand its pipeline. The latest funding round brings the company’s total private funding to over $1.1 billion since 2019.
The financing round included firms such as Lux Capital; Alexandria Venture Investments; AME Cloud Ventures; The Column Group; E15 VC; Foresite Capital; General Catalyst; Soros Capital; StepStone Group; T. Rowe Price Associates; and UC Investments.1
“Eikon has made remarkable progress in advancing a pivotal-stage clinical pipeline and early-stage development program powered by our single-molecule tracking technology and the deep expertise of our multidisciplinary team. With clinical studies now operating in 28 countries, across 5 continents, we are accelerating the development of much-needed therapies while continuing to expand our research and development capabilities,” said Roger M. Perlmutter, MD, PhD, CEO, board chair, Eikon Therapeutics, in a press release. “This financing provides the resources necessary to build a fully integrated, 21st-century biotechnology company that leverages advanced computing, data sciences, and decades of experience in bringing innovative medicines to patients. The continued support of our world-class syndicate of investors is a testament both to the progress we have already made, and to the confidence of investors in our ability to deliver important new medicines for the world.”
Eikon’s lead candidate, EIK1001, a toll-like receptor 7/8 co-agonist, is currently in Phase III trials for advanced melanoma, having demonstrated promise both as a monotherapy and in combination with anti-PD-L1 agents. Additionally, the company has been working on EIK1003, a PARP1 inhibitor for breast, ovarian, prostate, and pancreatic cancers, and EIK1004, a central nervous system-penetrant PARP1-selective inhibitor targeting brain tumors, which is currently on track to begin Phase I trials. The company’s early-stage pipeline includes androgen receptor antagonists and EIK1005, a WRN inhibitor for MSI-high and DNA repair–deficient cancers.1
Earlier this month, Eikon announced the publication of a study in Nature Methods that highlights the effectiveness of its Oblique Line Scan (OLS) technology in combination with its Single Molecule Tracking (SMT) platform. According to the company, its SMT platform has the ability to identify hundreds of thousands of proteins in less than a second. The study authors explained that the SMT and OLS platforms also have the capability to evaluate protein motion at approximately 14 square micrometers per second in living cells. Further, the study indicated that the SMT platform has the ability to permit in-solution SMT, offering accurate quantification of kinetic parameters for ligand-protein and protein-protein interactions in cell-free assays.2
“Eikon has engineered a next-generation drug discovery engine that seamlessly integrates automation, high-performance computing, and advanced data science to transform how new medicines are developed,” said Lux Capital co-founder and managing partner Josh Wolfe. “By harnessing its proprietary single molecule tracking technology, Eikon is uncovering biological processes in living cells with an unprecedented level of precision, generating insights at a pace that was previously out of reach. With a skilled leadership team that is deeply experienced in bringing groundbreaking therapies to patients, Eikon is setting a new standard for innovation in biotechnology.”
The company expects to present updates at the TD Cowen Healthcare Conference in March.1
References
1. Eikon Therapeutics Secures $350.7 Million Series D to Advance Clinical-Stage Programs and Future Pipeline. Eikon Therapeutics. February 26, 2025. Accessed February 26, 2025. https://www.eikontx.com/news/eikon-therapeutics-secures-350-7-million-series-d-to-advance-clinical-stage-programs-and-future-pipeline/
2. Eikon Therapeutics Announces Nature Methods Publication Highlighting its Pioneering Oblique Line Scan Technology. Eikon Therapeutics. February 19, 2025. Accessed February 26, 2025. https://www.eikontx.com/news/eikon-therapeutics-announces-nature-methods-publication-highlighting-its-pioneering-oblique-line-scan-technology/
