General Atlantic Leads Investment in Seaport Therapeutics

Paul, Weiss advised General Atlantic as lead investor in a $225 million Series B financing round in Boston-based Seaport Therapeutics, a clinical-stage biopharmaceutical company that is advancing novel neuropsychiatric medicines. General Atlantic led an investor syndicate that included participation from funds and accounts advised by T. Rowe Price Associates, Inc., Foresite Capital, Invus, Goldman Sachs Alternatives, CPP Investments and other new investors. Founding investors ARCH Venture Partners, Sofinnova Investments, Third Rock Ventures and co-founder PureTech Health also participated.

The financing round will support Seaport’s clinical-stage pipeline of first and best-in-class neuropsychiatric medicines and further advance the capabilities of its proprietary Glyph™ technology platform, which uses the lymphatic system to enable and enhance the oral administration of drugs.

The Paul, Weiss team was led by corporate partners Samuel Welt and Matthew Abbott and included partner Christopher Cummings and counsel Caitlin Kelly; intellectual property partner Jonathan Ashtor; tax partner Reuven Garrett; executive compensation partner Jarrett Hoffman and counsel Bruce Goldberger and Jake Glazeski; antitrust partners Annie Herdman and Marta Kelly; and litigation counsel Audrey Paquet and Pietro Signoracci.