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SAGE Therapeutics closes $38mm Series C round to support SAGE547 Phase I/II trial

Executive Summary

Only five months after closing its $20mm Series B round, orphan CNS drug developer SAGE Therapeutics Inc. raised $38mm in an oversubscribed Series C financing. Returning shareholders Third Rock Ventures and Arch Venture Partners were joined by first-time investors OrbiMed Advisors, EcoR1 Capital Management, Foresite Capital Management, and two undisclosed blue chip public investment funds. The start-up will apply the new funding to lead candidate SAGE547, a GABA A positive allosteric modulator. Patients with super refractory status epilepticus are currently enrolling in a Phase I/II trial.
Deal Industry
  • Biotechnology
  • Pharmaceuticals
Deal Status
  • Final
Deal Type
  • Financing
    • Venture Financing

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