Eikon Therapeutics, a US biotech company founded in 2019, has raised $350.7 million to further develop its cancer treatment projects. This brings their total funding to $1.1 billion. The company’s main drug, EIK1001, is in a late-stage clinical trial for treating advanced melanoma, in combination with the well-known cancer drug Keytruda. Another trial for lung cancer is ongoing and will finish in 2026. Eikon acquired rights to this drug in 2023 from another company.
The recent funding round is one of the largest for a biotech firm this year, with only Verdiva Bio surpassing it by raising $410 million earlier. Eikon was co-founded by Nobel Prize winner Eric Betzig and uses advanced technology to study proteins in cells, which might change how future clinical trials are conducted.
Besides EIK1001, Eikon is testing two other drugs. EIK1003 targets breast, ovarian, prostate, and pancreatic cancers, while EIK1004 is aimed at brain cancer. The company also has early-stage research on treatments for certain genetic cancers.
Major investors in this funding round included Lux Capital and Soros Capital.