Eikon draws $350M private round, holding off on public markets

Three years after its first crossover round, microscopy pioneer Eikon is continuing to advance its programs with a new $350.7 million series D round, rather than heading to the public markets.

Five-year-old Eikon Therapeutics Inc. has built a pipeline using molecular insights derived from innovations in fluorescence microscopy that enable the visualization of protein movements. Its most advanced program, a dual agonist of TLR8 and TLR9, has begun Phase III testing to treat advanced melanoma. The company also has a clinical program targeting PARP1 for multiple cancers, and a brain-penetrant PARP1 set to enter human testing for brain cancers...