CARMEL, Ind.– Sudo Biosciences (“Sudo”), a biopharmaceutical company committed to designing and developing best-in-class precision TYK2 (tyrosine kinase 2) inhibitors, today announced the close of a $116 million Series B financing round co-led by Enavate Sciences and TPG, which is investing in the company through TPG Life Sciences Innovations and The Rise Fund, with participation from Sanofi Ventures, Surveyor Capital (a Citadel company), Monograph Capital, and Eventide Asset Management as well as existing investors Frazier Life Sciences and Velosity Capital. The Company has raised a total of $157 million funding since its founding in 2020.
The Series B funding will be used to advance two investigational TYK2 candidates into the clinic next year. Sudo’s CNS program is a potential first and best-in-class brain-penetrant TYK2 inhibitor that has the potential to significantly advance the treatment of both the relapsing and progressive forms of multiple sclerosis as well as neurodegenerative conditions such as Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). Sudo is also developing a potential first-in-class topical TYK2 inhibitor for psoriasis and other immune-mediated dermatologic diseases.
“We are thankful for the support of our premier life science investors, which will allow us to advance our two development candidates into the clinic,” said Scott Byrd, CEO, Sudo Biosciences. “With this financing, we are well positioned to progress our pipeline of next generation TYK2 inhibitors and pursue our mission of improving care for the millions of people living with multiple sclerosis, psoriasis and other severe autoimmune and neurologic conditions.”
“We were attracted to Sudo by the excellent science, experienced management team, and clinical potential of its brain-penetrant and topical allosteric TYK2 inhibitors,” said Edd Fleming, MD, Executive Vice President, Commercialization, Enavate Sciences. “Severe neurologic diseases such as progressive forms of MS, Alzheimer’s and ALS have limited treatment options, and we believe Sudo’s CNS program has the potential to address these unmet needs.”
“We are excited to partner with the Sudo team to unlock the potential therapeutic applications for TYK2 inhibition in neuroinflammation and autoimmune diseases,” said Shinichiro Fuse, PhD, Business Unit Partner with TPG Life Sciences Innovations. “The pre-clinical data with Sudo’s CNS and dermatology TYK2 programs are very promising and support TYK2’s potential as a target in these therapeutic areas.”
In conjunction with the financing, Edd Fleming, Shinichiro Fuse, and Chris Gagliardi, PhD, Principal at Sanofi Ventures, will join the Board of Directors.
