KING OF PRUSSIA, PA — SEED Therapeutics, Inc. announced it has closed a $30 million Series A-3 financing and received U.S. Food and Drug Administration clearance of its Investigational New Drug (IND) application for its lead program, ST-01156, targeting RBM39. The company plans to launch first-in-human clinical trials in the first quarter of 2026.
The financing included a $24 million first close in August 2024 and a $6 million second close in August 2025. Beyond this round, SEED has secured nearly $60 million through equity, upfront, and milestone payments tied to partnerships with Eli Lilly and Eisai, underscoring strong external validation of its molecular glue degrader platform.
“FDA clearance of our IND is a defining milestone for SEED, marking our transition into a clinical-stage company,” said Lan Huang, Ph.D., Co-Founder, Chairman, and CEO. “ST-01156 represents the first of a new generation of rationally designed molecular glue degraders.”
Chief Financial Officer and Chief Business Officer Bill Desmarais highlighted the combined strength of financing and partnerships. “Our equity financing, together with collaboration payments from Eli Lilly and Eisai, supplement our resources to move confidently into the clinic and to continue building a broad pipeline,” he said.
The developments mark a pivotal step for SEED as it advances its therapeutic strategy into clinical testing.
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