On December 20, 2023, Sudo Biosciences, a biopharmaceutical company committed to designing and developing best-in-class precision TYK2 (tyrosine kinase 2) inhibitors, announced the close of a $116 million Series B financing. The round was co-led by Enavate Sciences and TPG, which is investing in the company through TPG Life Sciences Innovations and The Rise Fund, with participation from Sanofi Ventures, Surveyor Capital (a Citadel company), Monograph Capital, and Eventide Asset Management, as well as existing investors Frazier Life Sciences and Velosity Capital. Wilson Sonsini Goodrich & Rosati advised Sudo on intellectual property matters related to the transaction.

The Series B funding will be used to advance two investigational TYK2 candidates into the clinic next year. Sudo’s CNS program is a potential first and best-in-class brain-penetrant TYK2 inhibitor that has the potential to significantly advance the treatment of both the relapsing and progressive forms of multiple sclerosis, as well as neurodegenerative conditions such as Alzheimer’s disease and amyotrophic lateral sclerosis (ALS). Sudo is also developing a potential first-in-class topical TYK2 inhibitor for psoriasis and other immune-mediated dermatologic diseases. The company has raised a total of $157 million funding since its founding in 2020.

The Wilson Sonsini team advising Sudo on the transaction and intellectual property matters includes Tyler Baguley, Brett Zirkle, Deborah Smith, and Mike Hostetler.

For more information, please see Sudo’s news release. Additional coverage is available in Fierce Biotech.