Sudo Biosciences, a biopharmaceutical company committed to designing and developing best-in-class precision TYK2 (tyrosine kinase 2) inhibitors, today announced that during January 2024, it completed a second close of its Series B financing, raising an additional $30 million from new investors Dementia Discovery Fund (DDF, a SV Health Investors Fund), Leaps by Bayer, and UPMC Enterprises, the innovation, commercialization and venture capital arm of UPMC. This brings the total raised in this upsized round to $147 million.

The Series B funding was 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, Frazier Life Sciences, Surveyor Capital (a Citadel company), Monograph Capital, Eventide Asset Management, Velosity Capital and new investors DDF, Leaps by Bayer, and UPMC Enterprises. With this second Series B round close, Sudo has raised a total of $188 million since its founding in 2020.

Sudo Biosciences is a biopharmaceutical company committed to designing and developing novel medicines to transform patients' lives. The company's programs target the tyrosine kinase 2 (TYK2) pseudokinase domain. TYK2 is a key mediator in cytokine signaling pathways that have been linked to a broad range of immune-mediated inflammatory conditions. The company's pipeline of next generation TYK2 inhibitors includes a potential first- and best-in-class brain-penetrant candidate for the treatment of multiple sclerosis and neurodegenerative diseases with underlying neuroinflammation and a potential first- and best-in-class topical candidate for immune-mediated dermatologic diseases. Both candidates are anticipated to enter clinical trials in 2024.