Seattle’s Eliem Therapeutics Raises $60M to Advance Drug Pipeline

Eliem Therapeutics raised $60 million in a Series B funding round to advance its pipeline of clinical and preclinical drugs, following closely on the heel of its $80 million initial funding round in March. The Seattle-based startup, which develops therapies for pain and depression, employs around 20 people and expects to grow that number this year.

“With this capital, we will continue to execute our strategy to develop differentiated small molecule new chemical entities, based on clinically validated mechanisms of action with well-established clinical and regulatory endpoints,” said Bob Azelby, Eliem’s president and CEO.