Sanofi-backed Sudo Biosciences has closed a $116m Series B financing round to advance the development of its potential best-in-class TYK2 (tyrosine kinase 2) therapeutics programmes into the clinic.

The financing round was co-led by Enavate Sciences and TPG, which is investing in the firm via TPG Life Sciences Innovations and The Rise Fund.

The round also saw participation from Sanofi Ventures, Surveyor Capital, Monograph Capital, and Eventide Asset Management as well as existing investors Frazier Life Sciences and Velosity Capital.

Since its establishment in 2020, the biopharmaceutical company has raised a total of $157m in funding. Sudo secured a $37m series A in September 2022.

The funds will be used to advance two investigational TYK2 candidates, for multiple sclerosis and psoriasis, into the clinic by 2024.

Sudo’s CNS programme is a potentially first- and best-in-class brain-penetrant TYK2 inhibitor.

The programme has the potential to improve treatment for neurodegenerative diseases like Alzheimer’s and amyotrophic lateral sclerosis (ALS), as well as relapsing and progressive multiple sclerosis.

Additionally, the firm is working on a topical TYK2 inhibitor that may be the first of its kind to treat psoriasis and other immune-mediated dermatologic conditions.

Sudo Biosciences CEO Scott Byrd said: “We are thankful for the support of our premier life science investors, which will allow us to advance our two development candidates into the clinic.

“With this financing, we are well positioned to progress our pipeline of next-generation TYK2 inhibitors and pursue our mission of improving care for the millions of people living with multiple sclerosis, psoriasis and other severe autoimmune and neurologic conditions.”

Carmel, Indiana-based Sudo Biosciences has operations across the US and UK.

The company is also seeking a partner for an ophthalmic topical discovery programme.