Rapport Therapeutics Raises $150M in Series B Funding

Rapport Therapeutics, a Boston, MA- and San Diego, CA-based clinical-stage biotechnology company leveraging the science of receptor-associated proteins (RAPs) for neuromedicines, raised $150M in Series B funding.

The round was led by Cormorant Asset Management, and included participation from Fidelity Management & Research Company, Goldman Sachs Asset Management, Logos Capital, Perceptive Advisors, Sofinnova Investments, Surveyor Capital, funds and accounts advised by T. Rowe Price Associates, Inc., and all existing investors, which included Third Rock Ventures, ARCH Venture Partners and Johnson & Johnson Innovation – JJDC, Inc. (JJDC).

Concurrent with the round, Rapport has appointed Raymond Kelleher, M.D., Ph.D., Managing Director of Cormorant Asset Management, and James Healy, M.D., Ph.D., Managing Partner of Sofinnova Investments, to its Board of Directors.

The company intends to use the funds to support ongoing clinical programs in seizure and psychiatric disorders and precision neuromedicine discovery platform

Led by CEO Abraham Ceesay, Rapport pursues precision neuromedicine in an effort to give patients alternatives to current treatments for neurological diseases, which often come with reduced efficacy and side effects that lead to suboptimal dosing, noncompliance and discontinuation. By precisely targeting the neural circuits and cell types where diseases originate, its approach has the potential to reduce the unwanted drug-target interactions that lead to these issues. The company’s platform, built and refined over the past decade by its founding scientific team, achieves precision through the discovery and targeting of receptor-associated proteins, or RAPs, which display regional or neural circuit-specific expression. Its first program, designed to treat seizure disorders in patients whose condition is resistant to current treatments, is in Phase 1 clinical studies.