Rapport Therapeutics’ IPO came with a concurrent private placement that boosted the biotech’s cash haul. The new capital will support clinical development of a lead drug with a novel approach to focal epilepsy, a form of the disorder that affects 1.8 million people in the U.S.

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Rapport Therapeutics’ lead program could offer more targeted epilepsy treatment compared to currently available anti-seizure medications, which introduce many side effects. The IPO will support plans to develop the oral small molecule in focal epilepsy as well as peripheral neuropathic pain and bipolar disorder.

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Rapport Therapeutics, a clinical-stage biotech that was founded last year, raised $150 million in Series B financing, bringing its total funding to date to $250 million. The company’s platform leverages receptor-associated proteins to create neurology drugs that have more focused activity in the brain, going after disease-driving circuits and cell types.

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