Neuro biotech Rapport builds investor confidence with $150M Series B, giving it optionality for IPO

Just five months after emerging with $100 million to test former Janssen neuroscience programs, Rapport Therapeutics is back with another nine-figure raise to take its lead small molecule through mid-stage trials.

The California and Massachusetts biotech disclosed a $150 million Series B on Wednesday morning. The quick, back-to-back financing rounds are reminiscent of the fast-paced funding heyday of 2021. The company’s lead program, RAP-219, is currently in a healthy volunteer study, and the drug developer hopes to start two Phase II trials of the asset next year — one for treatment-resistant epilepsy and the other for a yet-to-be-selected psychiatry indication, CEO Abraham Ceesay told Endpoints News.

Rapport now has runway into 2027, and as the industry’s optimism heats up, the startup has plenty of optionality on where to go next, Ceesay said. He noted the Series B could be viewed “like a crossover round” given the public and private pools…
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