Eikon Therapeutics uses high-resolution microscopes that view cell activity in real time, with an eye to using that data to accelerate drug discovery.
n 2014, the Nobel Prize in Chemistry was awarded to three men whose work helped change the way microscopes work. For centuries, in order to observe cells in the body on a microscopic level, they had to be fixed in place. You couldn’t see them as they were working. “The only way to visualize them were as static images frozen in time,” says Roger Perlmutter, CEO of Eikon Therapeutics.
On Thursday, Eikon announced that it had raised a $517.8 million series B round, making for a total of $668 million raised by the company to date. Investors for this round include funds and accounts managed by T. Rowe Price, Soros Capital, General Catalyst, E15 VC, Hartford Healthcare Endowment, AME Cloud Ventures, UC Investments, CPP Investments, Schroeders Capital, Harel Insurance and StepStone Group.
With the new round of funding, the company intends to expand its capabilities by doubling its current workforce of 100 employees and build out more of its physical infrastructure. Perlmutter estimates that the large funding round means that the company will have enough capital for years before requiring new financing. This, he says, means he won’t have to interrupt his team every few months to help solicit investment. Which means they can be more focused on developing new drugs.
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