Biotech funding in 2025 has stayed strong, with early-stage companies continuing to attract significant investment. Venture-backed startups are raising the capital needed to push novel platforms through preclinical and clinical development.
Investors remain focused on programs that target clear biological drivers or deliver meaningful advantages in modality or delivery.
From seed rounds fueling early discovery to later-stage financings that support registration-enabling studies, capital is still flowing to teams taking new approaches to complex diseases.
Below is a selection of biotech companies that secured venture capital investment in 2025, ordered from most recent, based on reporting from BioPharma Dive.
SciNeuro Pharmaceuticals
Key investors: LAV, ARCH Venture Partners
SciNeuro Pharmaceuticals has raised $53 million in new equity financing, supported by a $5 million research grant from the Michael J. Fox Foundation. The funding will advance programs targeting pathways linked to neurodegenerative diseases, including Lp-PLA2, beta amyloid and LRRK2, along with ongoing discovery in other CNS disorders. The company aims to develop disease-modifying therapies for conditions such as Alzheimer’s and Parkinson’s disease while continuing to expand its clinical and preclinical pipeline.
Excelsior Sciences
Key investors: Deerfield Management, Khosla Ventures, Sofinnova Partners, Eli Lilly and Company
Excelsior Sciences has raised $95 million — including a $70 million Series A and a $25 million state grant — to scale its “smart bloccs” platform, a modular chemistry system that machines can run and AI can learn from. The approach enables rapid, automated carbon–carbon bond formation to support closed-loop drug discovery and faster small-molecule synthesis. The financing will help expand the platform, build industry partnerships and advance Excelsior’s internal pipeline as the company works to modernize and reshore small-molecule discovery and manufacturing.
Triana Biomedicines
Key investors: RA Capital Management, Atlas Venture
Triana Biomedicines has secured $120 million in an oversubscribed Series B to advance TRI-611, a molecular glue degrader designed to target ALK-driven non–small cell lung cancer. The financing will support TRI-611 through early clinical development, selection of a second product candidate in 2026 and continued expansion of Triana’s degrader pipeline. The company’s discovery platform uses tailored chemical libraries and structural biology to induce selective degradation of disease-causing proteins that are difficult to drug with traditional approaches.
Protego Biopharma
Key investors: Novartis Venture Fund, Forbion
Protego Biopharma has raised $130 million in an oversubscribed Series B to advance PROT-001 into a pivotal trial for AL amyloidosis. PROT-001 is a first-in-class small molecule that aims to treat the disease by correcting the underlying protein-misfolding process. By stabilizing misfolded light chains and preventing harmful amyloid buildup, PROT-001 has the potential to offer a disease-modifying therapy for a condition with limited effective treatment options. The financing will also support Protego’s broader platform of pharmacological chaperones for protein-misfolding disorders.
Aspen Neuroscience
Key investors: OrbiMed, Arch Venture Partners, Frazier Life Sciences, Revelation Partners
Aspen Neuroscience raised $115 million in Series C funding to advance ANPD001, an autologous iPSC-derived cell therapy for moderate to advanced Parkinson’s disease. The investment supports ongoing Phase I/ IIa dosing, manufacturing expansion and development of additional personalized cell therapies for neurological disorders. Aspen’s platform uses machine learning and genomics to generate consistent, patient-specific dopamine precursor cells without the need for immunosuppression.
Solve Therapeutics
Key investors: Yosemite, Abingworth, Ally Bridge Group, B Capital, Balyasny, Merck, SymBiosis, Alexandria Venture Investments
Solve Therapeutics raised $120 million to progress its solid tumor ADC programs built on the CloakLink linker platform, designed to improve ADC stability and reduce hydrophobicity for better tolerability. The company is advancing two Phase I programs, SLV-154 and SLV-324, which use CloakLink chemistry to address challenges common in traditional ADC designs. Funding will support Phase Ib completion and expansion of the company’s precision-guided ADC pipeline.
Artios Pharma
Key investors: SV Health Investors, RA Capital Management, Janus Henderson Investors, Sofinnova Partners, EQT Life Sciences
Artios Pharma closed a $115 million Series D to expand clinical evaluation of alnodesertib, a DNA damage response inhibitor showing activity in ATM-negative tumors across several solid cancer types. The financing supports larger studies in pancreatic and colorectal cancer and advances ART6043, a Polθ inhibitor preparing for Phase II evaluation in BRCA-mutant breast cancer. Artios is also progressing a differentiated DDR-ADC program with a lead candidate expected in early 2026.
Lifordi Immunotherapeutics
Key investors: Sanofi Ventures, ARCH Venture Partners, 5AM Ventures, Atlas Venture
Lifordi Immunotherapeutics secured additional financing, bringing its total raised to $112 million to support a Phase I study of LFD-200, an antibody-drug conjugate (ADC) that directs glucocorticoids to immune cells in rheumatoid arthritis. Early dosing in healthy participants is underway to evaluate safety, pharmacodynamic activity and weekly subcutaneous delivery. The funding also enables CMC preparations to ensure Phase II supply without development delays.
Gate Bioscience
Key investors: Forbion, Eli Lilly and Company, Versant Ventures, a16z Bio + Health, GV, Arch Venture Partners
Gate Bioscience raised $65 million in a Series B to advance its oral “molecular gate” medicines, which selectively degrade disease-driving proteins by blocking their passage through the Sec61 secretory channel. The new capital supports IND-enabling work and Phase I studies across inflammatory and neurological diseases.
T-Therapeutics
Key investors: Tencent, BGF, Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures
T-Therapeutics raised a total of $91 million in Series A funding to advance its next-gen TCR-CD3 bispecifics for cancer and autoimmune disease. The company uses its OpTiMus platform to generate fully human T-cell receptors that can access intracellular targets, paired with engineered CD3 engagers for potency and safety. New proceeds will support the progression of its lead oncology and immunology programs toward the clinic.
Braveheart Bio
Key investors: Andreessen Horowitz, Forbion, OrbiMed, Enavate Sciences, Frazier Life Sciences
Braveheart Bio launched with $185 million to advance BHB-1893, a selective cardiac myosin inhibitor for hypertrophic cardiomyopathy. The program has completed multiple Phase II studies, is in a Phase III trial in China and is preparing for global late-stage development in 2026. The therapy targets the overcontraction that characterizes HCM, aiming to improve how the heart relaxes and fills with blood.
Azalea Therapeutics
Key investors: Third Rock Ventures, RA Capital Management, Yosemite, Sozo Ventures
Azalea Therapeutics launched with $82 million in seed and Series A funding to develop in vivo cell engineering therapies using its Enveloped Delivery Vehicle (EDV) platform. The technology delivers CRISPR editing tools and a homology-directed repair template directly into targeted cells, enabling precise gene insertion without ex vivo manufacturing. Initial programs include in vivo CAR-T therapies for B-cell cancers, autoimmune diseases and multiple myeloma.
AAVantgarde Bio
Key investors: Schroders Capital, Atlas Venture, Forbion, Amgen Ventures
AAVantgarde Bio raised $141 million in Series B financing to advance gene augmentation therapies for Stargardt disease and Usher 1B retinitis pigmentosa. Funds support the progress of the CELESTE and LUCE clinical studies, which aim to restore full length ABCA4 and MYO7A proteins in patients with inherited retinal disease.
Hemab Therapeutics
Key investors: Sofinnova Partners, RA Capital Management, Novo Holdings, Access Biotechnology, Deep Track Capital, Avoro Capital Advisors
Hemab Therapeutics develops prophylactic therapies for rare bleeding disorders, including sutacimig for Glanzmann thrombasthenia and a Phase II program for factor VII deficiency. The company is also advancing HMB-002, an antibody targeting the underlying biology of Von Willebrand disease, toward a registration study. The $157 million Series C supports multiple late-stage programs and expansion of its broader clotting disorder pipeline.
Electra Therapeutics
Key investors: Nextech, EQT Life Sciences, Sanofi Ventures, HBM Healthcare Investments, Mubadala Capital, OrbiMed, RA Capital Management, OrbiMed
Electra Therapeutics develops first-in-class therapies targeting signal regulatory protein (SIRP) receptors to selectively deplete disease-driving immune cells in cancer and severe inflammatory disorders. Its lead candidate, ELA026, is in a pivotal Phase II/ III trial for secondary hemophagocytic lymphohistiocytosis, supported by Phase Ib data showing strong survival signals. The $183 million Series C enables the global pivotal study, further evaluation in hematologic cancers and advancement of a second SIRP-targeted program, ELA822.
Elevara Medicines
Key investors: Forbion, Sofinnova Partners, Monograph Capital
Elevara Medicines develops therapies for rheumatoid arthritis and chronic inflammatory diseases by targeting synovial fibroblasts rather than the immune system alone. Its lead candidate, ELV001, is a first-in-class oral CDK4/6 inhibitor that is moving into the Phase II START-SYNERGY trial in rheumatoid arthritis (RA) patients who have failed methotrexate and TNF inhibitors. The $70 million Series A will fund this Phase II program and exploratory work in other inflammatory conditions, including women’s health.
Expedition Medicines
Key investors: Flagship Pioneering
Expedition Medicines is building a generative covalent chemistry platform that uses quantum chemistry and AI to design small molecules for traditionally “undruggable” protein targets. Its approach focuses on reaction-first covalent interactions, enabling targeting of smooth-surfaced proteins such as transcription factors and regulators. Flagship’s $50 million initial commitment funds scaling of the platform and discovery programs in oncology, immunology and other well-defined diseases, including a prostate cancer collaboration under Flagship’s partnership with Pfizer.
Adcytherix
Key investors: Bpifrance, Kurma Partners, Andera Partners, Angelini Ventures, Surveyor Capital, aMoon, RA Capital Management
Adcytherix is developing next-generation ADCs using its proprietary ADCX-Engine, which integrates optimized linkers, precision antibody engineering and clinically validated payloads. Its lead candidate, ADCX-020, is being prepared for IND and CTA filings across the US, EU, UK and Canada. The approximately $121.42 million (€105 million) Series A supports clinical entry of ADCX-020 and expansion of its pipeline using novel payload classes.
Pelage Pharmaceuticals
Key investors: Arch Venture Partners, GV, Main Street Advisors, Visionary Ventures, YK Bioventures
Pelage Pharmaceuticals, a clinical-stage regenerative medicine company, is advancing PP405, a topical small molecule, right now in Phase IIa. PP405 is designed to reactivate dormant hair follicle stem cells to promote new hair growth in androgenetic alopecia. Phase IIa data showed favorable safety and early signals of increased hair density, including new growth in previously inactive follicles. The $120 million Series B supports a Phase III program planned for 2026 and expansion of Pelage’s regenerative dermatology portfolio.
Tubulis
Key investors: Venrock Healthcare Capital Partners, Fidelity Management & Research, Janus Henderson Investors, Wellington Management, Blackstone Multi-Asset Investing, EQT Life Sciences
Tubulis is developing next-gen ADCs using proprietary platform technologies designed to expand payload options and improve stability, safety and anti-tumor activity. Its lead ADC, TUB-040, recently showed early clinical activity in platinum-resistant ovarian cancer, validating its Tubutecan technology. The approximately $398 million (€344 million) Series C supports pivotal trial initiation, exploration of earlier-line use, expansion of its ADC pipeline and continued platform innovation.
Kailera Therapeutics
Key investors: Bain Capital Private Equity, CPP Investments, T. Rowe Price, Adage Capital, Royalty Pharma, Atlas Venture
Kailera Therapeutics is advancing a late-stage obesity portfolio led by KAI-9531, an injectable dual GLP-1/GIP receptor agonist that has completed Phase II and is entering global Phase III trials. The company is also progressing an oral GLP-1 candidate and multiple next-generation incretin-based programs. The $600 million Series B supports the Phase III program for KAI-9531 and accelerates development of Kailera’s broader metabolic disease pipeline.
Kardigan
Key investors: Fidelity Management & Research, T. Rowe Price, Arch Venture Partners, Sequoia Heritage
Heart health company Kardigan is advancing a portfolio of personalized cardiovascular medicines. Its lead programs include a cardiac myosin activator for genetic dilated cardiomyopathy, an angiotensinogen-targeted therapy for acute severe hypertension and an sGC activator for calcific aortic valve stenosis. The $254 million Series B enables late-stage development across all three programs and supports the company’s broader data-driven platform for cardiovascular drug discovery.
Excellergy
Key investors: Samsara BioCapital, Red Tree Venture Capital, Decheng Capital
Excellergy is developing a new class of allergy therapeutics called effector cell response inhibitors (ECRIs) to deliver more complete allergic control. Its trifunctional ECRIs are designed to remove receptor-bound IgE from mast cells and basophils, neutralize free IgE and downregulate FcεRI expression without triggering cell activation. The $70 million Series A supports the advancement of its lead ECRI into first-in-human studies and expansion of its allergy pipeline.
Expedition Therapeutics
Key investors: Sofinnova Investments, Novo Holdings, Forbion, KKR’s Dawn Biopharma, Adage, Sanofi Ventures
Expedition Therapeutics is developing therapies for inflammatory and respiratory diseases, led by EXPD-101, a next-generation DPP1 inhibitor targeting neutrophilic inflammation in chronic obstructive pulmonary disease (COPD). EXPD-101 has shown tolerability, target engagement and once-daily pharmacokinetics in Phase I studies and is now advancing into global Phase II development. The $165 million Series A will fund the COPD program, support indication expansion and advance additional neutrophil-driven inflammation programs.
Soufflé Therapeutics
Key investors: Bessemer Venture Partners, Arch Venture Partners, Vida Ventures, Polaris Partners, Novo Holdings
Soufflé Therapeutics develops cell-specific siRNA medicines aimed at metabolic diseases, muscular dystrophies and genetic cardiomyopathies. The company is backed by more than $3.5 billion in combined financing and partnerships, including collaborations with AbbVie, Amgen, Bayer and Novo Nordisk. The $200M Series A supports the advancement of multiple siRNA programs toward planned first-in-human trials in 2026.
Affinia Therapeutics
Key investors: New Enterprise Associates, Eli Lilly and Company, Alexandria Venture Investments, Atlas Venture, Avidity Partners, F-Prime, GV, Mass General Brigham Ventures, Perceptive Advisors
Affinia Therapeutics is developing AAV-based gene therapies for devastating cardiovascular and neurological diseases. Its lead program, AFTX-201 for dilated cardiomyopathy due to BAG3 mutations, uses an engineered cardiotropic capsid to deliver a full-length BAG3 transgene via one-time IV dosing and is currently in IND-enabling studies. The $40 million Series C will support IND submission, initiation of the UPBEAT Phase I/ II trial and advancement of its broader AAV pipeline.
AeroRx Therapeutics
Key investors: Avalon BioVentures, Correlation Ventures, Alexandria Venture Investments
AeroRx Therapeutics is developing proprietary nebulized combination therapies for chronic respiratory diseases. Its lead candidate, AERO-007, is the first nebulized long-acting beta-agonist (LABA)/long-acting muscarinic antagonist (LAMA) in development for COPD and has demonstrated clinically meaningful, sustained bronchodilation over 24 hours in a Phase IIa study. The $21 million Series A will support a Phase IIb dose optimization trial and preparations for late-stage development.
Nilo Therapeutics
Key investors: The Column Group, DCVC Bio, Lux Capital, Gates Foundation, Alexandria Venture Investments
Nilo Therapeutics is building medicines that modulate neural circuits controlling systemic immune responses, aiming to restore immune balance without broad immunosuppression. Its preclinical programs target vagal-neuron pathways shown to regulate inflammation across multiple autoimmune and inflammatory diseases. The $101 million Series A funds lab build-out, team expansion and its neuro-immunology-based drug pipeline.
NanoPhoria Bioscience
Key investors: XGEN Venture, Sofinnova Partners, CDP Venture Capital, Panakès Partners
NanoPhoria Bioscience is developing NP-MP1, a first-in-class peptide therapy that targets cardiac calcium channels to improve heart function in heart failure with reduced ejection fraction. The therapy is delivered using the company’s lung-to-heart nano-in-micro platform designed to enhance cardiac drug uptake. The approximately $96.6 million (€83.5 million) Series A supports IND-enabling work and early clinical development of NP-MP1 while expanding its broader cardiometabolic portfolio.
Trogenix
Key investors: Eli Lilly
Trogenix is developing potentially curative cancer therapies for aggressive solid tumors using a “trojan horse” approach that combines direct cancer cell killing with immune stimulation. Its synthetic super enhancers drive expression of a prodrug-converting enzyme and an immune-stimulating cytokine specifically in diseased cell states. Trogenix has a lead program in glioblastoma and a follow-on program in colorectal cancer liver metastases. The approximately $95 million (£70 million) Series A will support clinical entry of the glioblastoma program and expansion into additional solid tumor indications.
Cirrus Therapeutics
Key investors: ClavystBio, Polaris Partners, SEEDS
Cirrus Therapeutics is developing gene and cell therapies in ocular immunology to extend ocular “healthspan” in chronic blinding diseases. Its lead AAV gene therapy aims to restore IRAK-M expression in retinal cells to address a validated, age-related driver of dry age-related macular degeneration (AMD). The $11 million seed round will fund IND-enabling studies and advancement of this first program toward the clinic.
Crystalys Therapeutics
Key investors: Novo Holdings, SR One, Catalys Pacific, Perceptive Xontogeny Venture Funds, Lightstone Ventures, Alexandria Venture Investments
Crystalys Therapeutics launched with a $205 million Series A to advance dotinurad, a once-daily URAT1 inhibitor now in global Phase III trials for gout. The therapy has shown strong uric acid-lowering activity and a defined safety profile across prior studies, with approvals already granted in several markets in Asia. Funding supports the Phase III RUBY and TOPAZ trials, which compare dotinurad with allopurinol in both hyperuricemia-associated and tophaceous gout. Crystalys has recently begun dosing the first patients in its Phase III studies.
Star Therapeutics
Key investors: Sanofi Ventures, Viking Global Investors, Janus Henderson Investors, Frazier Life Sciences, OrbiMed, Sofinnova Investments, RA Capital Management
Star Therapeutics is advancing VGA039, a first-in-class monoclonal antibody that targets protein S to restore balance in blood clotting for people with von Willebrand disease (VWD) and other bleeding disorders. If approved, VGA039 could become the first, once-monthly, subcutaneous therapy designed to address all VWD types, and has now entered a pivotal Phase III trial. The $125 million Series D will support continued clinical development of VGA039 and expansion of Star’s hematology pipeline.
Sparrow Pharmaceuticals
Key investors: RA Capital Management, Forbion, OrbiMed, RiverVest, US Venture Partners
Sparrow Pharmaceuticals develops targeted therapies for cortisol-driven metabolic disease, led by clofutriben, an oral HSD-1 inhibitor in Phase IIb testing for type 2 diabetes with elevated cortisol. The drug aims to improve glycemic control in patients who respond poorly to current standards due to cortisol-mediated resistance. The $95 million Series B supports the CAPTAIN-T2D study and broader development of cortisol-modulating programs.
Avenzo Therapeutics
Key investors: OrbiMed, NEA
Avenzo Therapeutics develops next-gen oncology therapies, including AVZO-103, a Nectin4/TROP2 bispecific ADC now in Phase I/II evaluation for advanced solid tumors. The FDA recently granted Fast Track designation to AVZO-103 for urothelial cancer previously treated with enfortumab vedotin, recognizing an area with no approved ADC options. Its $60 million Series B supports continued clinical development of AVZO-103 and expansion of its bispecific ADC pipeline.
Ollin Biosciences
Key investors: Arch Venture Partners, Mubadala Capital, Monograph Capital
Ollin Biosciences develops ophthalmology therapies, led by OLN324, a VEGF/Ang2 bispecific antibody in a Phase Ib trial for wet (neovascular) age-related macular degeneration (wAMD) and diabetic macular edema. The program aims to improve durability and anatomic outcomes compared with existing VEGF/Ang2 inhibitors. A $100 million initial financing Series A round supports OLN324 development and advancement of OLN102 for thyroid eye disease.
Treeline Biosciences
Key investors: Access Industries (AI Life Sciences), Arch Venture Partners, OrbiMed, GV, KKR, T. Rowe Price, Fidelity, Exor
Treeline Biosciences combines small molecules, degraders and targeted therapy ADCs with computational drug discovery to tackle difficult oncology targets. The company is advancing three clinical programs: TLN-121, a BCL6 degrader for lymphomas; TLN-372, a pan-KRAS inhibitor for KRAS-altered solid tumors and TLN-254, an EZH2 inhibitor now in early trials for T-cell lymphomas. A $200 million Series A extension brings total funding to $1.1 billion, supporting the expansion of its precision-oncology pipeline.
Charm Therapeutics
Key investors: NEA, SR One, OrbiMed, F-Prime Capital, Khosla Ventures, NVIDIA
Charm Therapeutics is developing CHM-029, a next-gen menin inhibitor designed to maintain potency against known resistance mutations in acute myeloid leukemia (AML). The candidate was discovered using the company’s DragonFold deep-learning platform and has shown robust preclinical activity. The $80 million Series B supports IND-enabling work ahead of planned clinical entry in 2026.
Dualitas Therapeutics
Key investors: Versant Ventures, Qiming Venture Partners USA, SV Health Investors, Chugai Venture Fund, Eli Lilly and Company, Alexandria Venture Investments
Dualitas Therapeutics is building a pipeline of bispecific antibodies for allergic and autoimmune diseases using its DualScreen discovery engine. Lead candidates DTX-103 and DTX-102 have shown differentiated preclinical activity across cell-surface proximity mechanisms. The $65 million Series A supports the advancement of both programs and further development of DualScreen.
Odyssey Therapeutics
Key investors: Affinity Asset Advisors, Dimension Capital, Lightspeed Ventures, Jeito Capital, TPG Life Sciences Innovations, OrbiMed, Alexandria Venture Investments
Odyssey Therapeutics raised $213 million in an oversubscribed Series D to accelerate clinical and preclinical programs focused on precisely targeting the molecular drivers of autoimmune and inflammatory diseases. The company has built an integrated discovery and development engine capable of generating internally originated candidates now progressing through clinical milestones. The new financing supports the continued advancement of multiple programs designed to move beyond broad immunosuppression.
Epigenic Therapeutics
Key investors: Qiming Venture Partners, OrbiMed, Lapam Capital
Epigenic Therapeutics is advancing epigenome-regulating medicines using its EPIREG platform, which enables durable, cleavage-free gene silencing through targeted DNA methylation and histone modification. Its $60 million Series B financing supports clinical development of two lead programs — EPI-003 for chronic hepatitis B and EPI-001 for hypercholesterolemia — as well as expansion of its preclinical pipeline.
AllRock Bio
Key investors: Versant Ventures
AllRock Bio is developing therapies for cardiopulmonary and fibrotic diseases, led by ROC-101, a first-in-class oral pan-ROCK inhibitor. Phase I data show ROC-101 is safe, well tolerated and achieves dose-dependent inhibition of ROCK1 and ROCK2 without inducing hypotension, supporting plans for a Phase IIa proof-of-concept trial in pulmonary arterial hypertension and ILD-associated pulmonary hypertension. Its $50 million Series A financing backs the advancement of ROC-101 and the expansion of its cardiopulmonary pipeline.
Alchemab Therapeutics
Key investors: RA Capital, SV Health Investors, Lightstone Ventures, DCVC Bio, Eli Lilly and Company
Alchemab Therapeutics is developing therapeutic antibodies identified from individuals who naturally demonstrate disease resilience, using an AI-enabled platform that interrogates its large antibody dataset, the DataCube. The company recently initiated a Phase I study of ATLX-1282, a program licensed to Eli Lilly, and raised a $32 million Series A extension to further advance ATLX-2847 for muscle atrophy and additional early-stage immune and neurological programs.
Strand Therapeutics
Key investors: Kinnevik, Regeneron Ventures, ICONIQ, Amgen Ventures, FPV Ventures, Eli Lilly and Company
Strand Therapeutics develops programmable mRNA therapies using self-replicating RNA and logic-encoded circuits to deliver targeted cytokine expression. Its lead candidate, STX-001, expresses IL-12 in the tumor microenvironment and has shown early anti-tumor activity in Phase I studies. The company’s $153 million Series B funding will advance STX-001 and support the development of systemically delivered mRNA programs such as STX-003.
Minghui Pharmaceutical
Key investors: OrbiMed, Qiming Venture Partners, TF Capital, BioTrack Capital, 5Y Capital, New Day Fund
Minghui Pharmaceutical develops late-stage oncology and immunology therapies, including a topical JAK inhibitor under NDA review and multiple antibody and ADC programs. Its lead assets include a subcutaneous IGF-1R antibody and a PD-1/VEGF bispecific being studied alone and in combination with ADCs. Its $131 million pre-IPO financing supports ongoing Phase II to Phase III development and commercial preparation in China.
MapLight Therapeutics
Key investors: Forbion, Novo Holdings
MapLight Therapeutics develops small molecule therapies that modulate neural circuits implicated in central nervous system disorders. Its pipeline spans multiple Phase II programs, and in October 2025, the company announced an IPO, with plans to list on the Nasdaq under the symbol MPLT. The $372.5 million Series D funding disclosed in the venture database supports ongoing mid-stage clinical work and expansion of its neurobiology platform.
Dispatch Bio
Key investors: Arch Venture Partners, Alexandria Venture Investments
Dispatch Bio is developing the Flare platform, a two-component therapeutic approach designed to broaden CAR-T applicability to solid tumors. Its DISP-10 program combines DV-10 — a tumor-specific virus delivering a modified BCMA construct and immune-activating factors — with idecabtagene vicleucel (ide-cel), which is supplied under Dispatch’s new collaboration with Bristol Myers Squibb. The $216 million Series A financing supports upcoming clinical development, with the first US Phase I study planned for 2026.
Artbio
Key investors: Sofinnova Investments, F-Prime Capital, Third Rock Ventures, Alexandria Venture Investments
Artbio is advancing a pipeline of Pb212-based alpha radioligand therapies, including its lead PSMA-targeted candidate AB001 for metastatic castration-resistant prostate cancer. AB001 recently received FDA IND clearance, enabling initiation of a Phase I clinical study following encouraging biodistribution data from a prior Phase 0 trial in Norway. The company’s Series B funding of $132 million will support the expansion of its manufacturing network and the progression of its clinical strategy using its AlphaDirect Pb212 generator platform.
Avalyn Pharma
Key investors: F-Prime Capital, Novo Holdings
Avalyn Pharma is developing inhaled therapies for life-threatening pulmonary diseases, including idiopathic pulmonary fibrosis (IPF). Its AP02 program — an inhaled formulation of nintedanib — demonstrated improved lung exposure and reduced systemic exposure in Phase I testing, supporting its advancement into the planned AURA-IPF Phase II study. The company’s $100 million Series D financing supports continued development of its inhaled pipeline and preparations for upcoming Phase II data generation.
Actithera
Key investors: M Ventures, Hadean Ventures, Sofinnova Partners, 4BIO Capital
Actithera is developing next-gen radioligand therapies (RLTs) using a discovery platform designed to improve tumor retention while maintaining rapid systemic clearance. The Series A funding supports clinical advancement of its fibroblast activation protein (FAP) program, a high-value target in solid tumors that has historically been difficult to drug with durable radioligands. The company is also expanding its platform by adding newly licensed covalent chemistry technologies from the Weizmann Institute to strengthen selectivity and residence time across future RLT candidates.
Renasant Bio
Key investors: 5AM Ventures, Atlas Venture, OrbiMed, Qiming Ventures
Renasant Bio is developing next-gen small-molecule corrector and potentiator therapies that directly target polycystin proteins PC1 and PC2, the core biological drivers of autosomal dominant polycystic kidney disease (ADPKD). Its lead corrector program is designed to stabilize and restore trafficking of misfolded polycystin proteins across the broad mutation spectrum of PKD1 and PKD2. The company raised $54.5 million in seed financing to progress its corrector program through preclinical development and continue discovery work on its potentiator platform.
Actio Biosciences
Key investors: Deerfield Management
Actio Biosciences, a clinical-stage company, is capitalizing on advancements in precision medicine to develop novel therapeutics that target shared genetic markers in both rare and prevalent diseases. In June, Actio Biosciences secured a significant $66 million Series B financing round to accelerate its genetics-driven pipeline of small molecule therapeutics for these conditions.
Draig Therapeutics
Key investors: Access Biotechnology, Canaan Partners, SR One, Sanofi Ventures, Schroders Capital, SV Health Investors, ICG
Draig Therapeutics has raised $140 million across seed and Series A funding to advance next-generation therapies for major neuropsychiatric disorders. The company is moving DT-101, an AMPA receptor positive allosteric modulator, into Phase II studies in major depressive disorder (MDD) following FDA IND clearance. This is supported by Phase I results showing tolerability and target engagement. The financing will also advance two selective GABAA receptor modulators into clinical development in 2026.
SpliceBio
Key investors: EQT Life Sciences, NEA, Sanofi Ventures
SpliceBio is leveraging protein splicing to develop the next generation of gene therapies. In June, SpliceBio announced that it would utilize $135 million from a Series B round, backed by Sanofi and Roche, to accelerate its lead gene editing therapy for Stargardt disease through clinical trials.
Antares Therapeutics
Key investors: Atlas Venture
Antares Therapeutics, a biotechnology company pioneering first-in-class precision medicines for cancer and other severe illnesses, secured a significant milestone in June 2025 by launching with a substantial $177 million in Series A financing.
Mosanna Therapeutics
Key investors: EQT Life Sciences, Forbion
Mosanna Therapeutics, a clinical-stage biotechnology company, is pioneering a novel pharmaceutical approach to treating obstructive sleep apnea (OSA) with an easily administered nasal spray. In June, the company secured $80 million in Series A funding to advance its novel nighttime nasal spray specifically designed to treat OSA.
Allay Therapeutics
Key investors: Lightstone Ventures, ClavystBio, NEA, Arboretum Ventures, Vertex Growth, Vertex Ventures HC, IPD Capital, EDBI, SGInnovate
Allay Therapeutics is developing ultra-sustained, non-opioid analgesic products designed to provide prolonged postoperative pain relief and support faster recovery. Its lead program, ATX101, is being evaluated in a Phase IIb registration trial for post-surgical pain following total knee replacement, informed by earlier studies showing durable reductions in pain intensity and opioid use. With $57.5 million in Series D financing and additional venture debt, the company is advancing ATX101 toward late-stage development.
SpyGlass Pharma
Key investors: NEA, RA Capital Management, Samsara BioCapital
SpyGlass Pharma, a privately held ophthalmic biotech company, announced the successful completion of a $75 million Series D financing round on June 2. SpyGlass’ Drug Delivery Platform is designed to provide multiple years of medical therapy, addressing the urgent need for long-term management of glaucoma and other chronic ophthalmic diseases.
Vima Therapeutics
Key investors: Atlas Venture
Vima Therapeutics, a clinical-stage biotech company, is pioneering a new era in treating dystonia and related movement disorders. In May, it launched with a $60 million Series A financing round led by Atlas Venture, with participation from Access Industries and Canaan.
GlycoEra
Key investors: Sofinnova Partners, Novo Holdings
GlycoEra AG is committed to developing cutting-edge protein degraders to revolutionize the treatment of autoimmune diseases. On May 27, 2025, the company announced the successful completion of an oversubscribed $130 million Series B financing round. These funds will be instrumental in advancing the company’s lead IgG4-targeted protein degrader through clinical trials involving patients.
CellCentric
Key investors: RA Capital, Forbion
CellCentric, a clinical-stage biotech company, is developing inobrodib, a groundbreaking oral cancer drug specifically designed to treat certain types of cancers. Last month, the company secured a significant $120 million investment to accelerate the development and clinical trials of inobrodib for the treatment of multiple myeloma.
Therini Bio
Key investors: SV Health Investors (Biotech Fund), Dementia Discovery Fund, Angelini Ventures, Apollo Health Ventures, MRL Ventures Fund, Sanofi Ventures, Eli Lilly and Company, Dolby Family Ventures, Foundation for a Better World
Therini Bio has expanded its Series A to a total of $75 million to advance THN391, a fibrin-targeting antibody intended to block an inflammatory epitope without affecting coagulation. In a Phase Ia healthy volunteer study, THN391 showed a favorable safety profile and predictable pharmacokinetics. The funding supports ongoing and planned Phase Ib trials in Alzheimer’s disease and diabetic macular edema, as well as a program developing a fibrin/VEGF bispecific.
Stylus Medicine
Key investors: RA Capital, Eli Lilly and Company
In May 2025, Stylus Medicine announced that it had launched with $85 million to advance in vivo gene editing and develop a novel class of in vivo genetic medicines that overcome the manufacturing and delivery obstacles associated with ex vivo gene editing therapies. The company’s funding comprises an initial $40 million Series A round led by RA Capital and Khosla Ventures. These parties also supported a $45 million extension, along with Chugai Venture Fund, Eli Lilly and Johnson & Johnson Innovation.
Azafaros
Key investors: Forbion
Azafaros, a clinical-stage company founded in 2018, possesses a profound understanding of the intricate mechanisms underlying rare genetic diseases. In May, the company made a significant announcement, revealing that it had successfully completed and oversubscribed a €132 million (USD $154 million) Series B financing round. This substantial investment will provide the financial support needed to advance clinical development.
Sirius Therapeutics
Key investors: OrbiMed
Sirius Therapeutics, a global leader in developing transformative siRNA therapeutics for chronic diseases, recently announced a significant milestone in its clinical development journey. In early May, the company successfully secured nearly $50 million in Series B2 financing. This funding will enable Sirius to advance the clinical trials of its novel siRNA therapeutics specifically designed to treat cardiometabolic disorders.
Haya Therapeutics
Key investors: Sofinnova Partners, Alexandria Venture Investments, Eli Lilly and Company
Haya Therapeutics has reached a major inflection point in 2025, securing $65 million in Series A financing to advance its lead long non-coding RNA (lncRNA) therapeutic, HTX-001, for heart failure. The round, led by Sofinnova Partners, will accelerate clinical development of the program, which targets disease-driving fibroblast activation, a central mechanism underlying cardiac remodeling and progression to heart failure. This latest investment marks a significant step forward for Haya as it moves its lncRNA platform toward first-in-human studies and expands its broader portfolio of RNA-targeting therapeutics.
Avidicure
Key investors: EQT Life Sciences
Avidicure is pioneering the development of an entirely new dual-agonistic, multifunctional and avidity-engineered antibody. In April, they announced that they had secured $50 million in seed financing to advance the development of a new multifunctional antibody modality for the treatment of cancer.
Etiome
Key investors: Flagship Pioneering
Etiome is revolutionizing how we detect and prevent the progression of chronic and progressive diseases. In April, Flagship Pioneering, a leading bioplatform innovation company, announced an initial commitment of $50 million to Etiome to advance Etiome’s Temporal Biodynamics platform and develop an initial pipeline of preemptive medicines.
Grove Biopharma
Key investors: DCVC Bio, Eli Lilly and Company, InVivium Capital, Walder Ventures,
Gradiant Corporation, Mansueto Investments, Portal Innovations
Grove Biopharma has raised $30 million in Series A funding to advance its Bionic Biologics™ platform, a synthetic, cell-penetrant modality designed to access intracellular protein-protein interactions that conventional modalities cannot reach. The platform integrates polymer, peptide, medicinal and computational chemistry to create fully synthetic, protein-scale molecules with intracellular reach. The financing will support further platform development and progress Grove’s lead oncology programs, including an androgen receptor signaling program for castration-resistant prostate cancer.
Glycomine
Key investors: CTI Life Sciences Fund, abrdn-managed funds, Advent Life Sciences, Novo Holdings, Sanofi Ventures, Abingworth, RiverVest Venture Partners, Sanderling Ventures, Chiesi Ventures, Remiges Ventures, Asahi Kasei Ventures
Glycomine has raised $115 million in Series C financing to advance GLM101, a first-in-class mannose-1-phosphate replacement therapy for PMM2-CDG, into a global Phase IIb trial. In an open-label Phase II study, GLM101 showed encouraging improvements in ataxia with a favorable safety profile. The POLAR Phase IIb trial, which just began dosing, will randomize around 50 adults and children to weekly IV GLM101 or placebo across multiple countries, with ICARS (International Cooperative Ataxia Rating Scale) improvement as the primary outcome.
Attovia Therapeutics
Key investors: venBio, Sanofi Ventures
Attovia Therapeutics, a privately held clinical-stage biopharma company focused on developing treatments for immune-mediated diseases with a significant unmet patient need, announced the successful completion of a $90 million Series C financing round in April 2025. This funding will be instrumental in advancing attobody-based programs through clinical proof-of-concept.
Imbria Pharmaceuticals
Key investors: RA Capital Management
Imbria, a privately held clinical-stage company, announced the successful completion of a $57.5 million Series B financing round. The round was led by a top-tier syndicate of life science investors, including Deep Track Capital, a new investor, and RA Capital Management, an existing investor. Proceeds from the round will support the advancement of ninerafaxstat into FORTITUDE-HCM, a Phase IIb randomized, double-blind, placebo-controlled trial evaluating the therapy in non-obstructive hypertrophic cardiomyopathy.
Solu Therapeutics
Key investors: Longwood Fund, DCVC Bio, Santé Ventures, Astellas Venture Management, Alexandria Venture Investments, Eli Lilly and Company, Biovision Ventures, Pappas Capital, Hengdian Group Capital, The Leukemia & Lymphoma Society Therapy Acceleration Program
Solu Therapeutics has raised $41 million in Series A financing and initiated a first-in-human Phase I trial of STX-0712, a CCR2-targeting CyTAC (cytotoxicity targeting chimera) designed to eliminate malignant monocytes in chronic myelomonocytic leukemia (CMML) and other hematologic malignancies. The trial is enrolling patients with resistant or refractory disease to evaluate dose, safety and preliminary anti-tumor activity. The financing will also support additional CyTAC and TicTAC (therapeutic index control targeting chimera) programs, including a mast-cell-depleting candidate for immunologic diseases and new discovery programs targeting pathogenic immune cell subsets.
Merida Biosciences
Key investors: Bain Capital Life Sciences, Third Rock Ventures and GV
Merida, a company advancing a precision immunology approach for antibody-driven diseases, has launched in April with $121 million in Series A financing. This funding will enable Merida to further develop its technology and expand its clinical trials. Merida is advancing a new class of antibody-inspired therapeutics designed to selectively eliminate disease-causing antibodies while avoiding the broad immune suppression and safety liabilities associated with existing treatments. The company’s pipeline includes programs in Graves’ disease, allergic conditions and primary membranous nephropathy, a chronic autoimmune disorder that impacts kidney function.
RayThera
Key investors: OrbiMed
RayThera, a small molecule drug discovery company, aims to develop safer and more effective therapeutics for immunological diseases. In April, the company successfully completed its Series A financing, raising a total of $110 million. Proceeds from the financing will support the advancement of RayThera’s lead candidates into and through Phase I clinical testing.
Neurona Therapeutics
Key investors: Alexandria Venture Investments
Neurona Therapeutics, a privately-held clinical-stage biotherapeutics company, announced in April the successful completion of a significantly expanded and oversubscribed $102 million financing round. The company is developing regenerative cell therapies for disorders of the nervous system. Proceeds from the financing will support development of the company’s wholly owned allogeneic cell therapy portfolio for chronic neurological conditions, including its lead candidate, NRTX-1001, being evaluated for drug-resistant mesial temporal lobe epilepsy
Atsena Therapeutics
Key investors: Bain Capital Life Sciences, Wellington Management, Lightstone Ventures, Sofinnova Investments, Abingworth, Foundation Fighting Blindness, Hatteras Venture Partners, Osage University Partners, Manning Family Foundation
Atsena Therapeutics has raised $150 million in an oversubscribed Series C to move ATSN-201, a gene therapy for X-linked retinoschisis (XLRS), into pivotal development. ATSN-201 is under evaluation in the Phase I/II/III LIGHTHOUSE trial. Early results show that it improves retinal structure and function while maintaining a good safety profile. The funding will also support Atsena’s broader pipeline for inherited retinal diseases and aid in further developing its spreading AAV.SPR capsid, which aims to target the central retina without foveal detachment.
Airna
Key investors: Arch Venture Partners
Airna, a biotech company at the forefront of RNA editing therapeutics aimed at restoring the health of patients with rare and prevalent diseases, announced in April its intention to launch its lead asset into clinical trials. This milestone was supported by a substantial $155 million Series B fundraising round. Airna will use the proceeds to move its lead RNA-editing candidate, AIR-001, for Alpha-1 antitrypsin deficiency (AATD), into a Phase I/II clinical study and to expand development of additional RNA-editing therapies for cardiometabolic and other diseases.
Isomorphic Labs
Key investors: GV
Isomorphic Labs, an AI-centric drug design and development company, announced in March of this year that it had raised $600 million in its inaugural external funding round. This funding will enable the company to further enhance its AI drug design engine by conducting frontier AI research and development.
Tribune Therapeutics
Key investors: LifeArc Ventures, Novo Holdings, HealthCap, Innovestor’s Life Science Fund, Inven2, Industrifonden, Investinor
Tribune Therapeutics has secured around $43 million (€37 million) in seed and Series A funding to create a pipeline of anti-fibrotic therapies. These therapies target key “gatekeepers” of scar formation rather than upstream inflammatory signals. The main program, TRX-44, is for idiopathic pulmonary fibrosis and other fibrotic conditions. It works by mimicking the endogenous CCN5 protein to counter pro-fibrotic CCN family members. The funds will help prepare TRX-44 for first-in-human studies and advance additional programs targeting CCN to treat fibrosis in various tissues.
Hillstar Bio
Key investors: Droia Ventures, Frazier Life Sciences, Novo Holdings, LifeArc Ventures, Hummingbird Bioscience
Hillstar Bio has launched with $67 million in Series A funding. It is developing precision immunology therapies that selectively eliminate harmful immune cell subsets while protecting healthy ones. Its main program focuses on TRBV9+ T cells in axial spondyloarthritis and other diseases related to HLA-B27, with plans for first-in-human studies in 2026. The funding will also support a wider range of antibody-based therapies that use validated biomarkers and tailored discovery approaches. The goal is to achieve better control than traditional immunosuppressive treatments.
Augustine Therapeutics
Key investors: Novo Holdings, Jeito Capital, Asabys Partners, Eli Lilly and Company, AdBio Partners, V-Bio Ventures, PMV, VIB, Gemma Frisius Fund, CMT Research Foundation, Newton Biocapital
Augustine Therapeutics has raised approximately $85 million (€77.7 million) in an oversubscribed Series A to advance a new HDAC6 inhibitor portfolio for neuromuscular, neurodegenerative and cardiometabolic diseases. The lead candidate, AGT-100216, is a selective HDAC6 inhibitor that is currently in a Phase I first-in-human trial for Charcot-Marie-Tooth disease. The company’s chemistry aims to maintain the beneficial non-catalytic functions of HDAC6 while avoiding issues seen with older hydroxamate-based inhibitors. Additional brain-penetrant and peripheral programs are also in discovery for wider applications.
Arbor Biotechnologies
Key investors: Arch Venture Partners
Arbor Biotechnologies is on the brink of revolutionizing the field of genetic medicines. In March 2025, they announced the successful completion of a $73.9 million Series C financing round, which will serve as a catalyst for the advancement of their pipeline of novel gene editing therapeutics. These therapeutics are specifically designed to target diseases that affect the liver and central nervous system.
Maxion Therapeutics
Key investors: General Catalyst, British Patient Capital, Solasta Ventures, Eli Lilly and Company, LifeArc Ventures, Monograph Capital, BGF
Maxion Therapeutics has secured $72 million (£58 million) in an oversubscribed Series A to develop its KnotBody pipeline for diseases driven by ion channels and GPCRs. The KnotBody platform combines antibody engineering with peptide “knottin” scaffolds to create highly selective biologics against challenging membrane targets. The lead program, MAX001, is in preclinical development for inflammatory diseases such as atopic dermatitis and inflammatory bowel disease. Other KnotBody candidates are in earlier stages for pain and cardiovascular issues.
Curevo
Key investors: OrbiMed, RA Capital Management, Sanofi Ventures
Curevo, a privately held clinical-stage biotech company, is focused on developing the varicella zoster virus (VZV). In March, they announced the completion of a $110 million Series B funding round to accelerate the development of amezosvatein, their vaccine for shingles.
Vivace Therapeutics
Key investors: RA Capital Management
Vivace Therapeutics, a small molecule discovery and development company focused on developing first-in-class cancer therapies that target the Hippo pathway, recently secured a significant milestone by raising $35 million in Series D financing. This funding will be instrumental in advancing the clinical development of their first-in-class investigational cancer drug, VT3989.
Garuda Therapeutics
Key investors: OrbiMed
Garuda Therapeutics is developing off-the-shelf hematopoietic stem cell (HSC) therapies for various blood disorders. In early March, they announced the successful completion of a Series A-1 funding round that raised approximately $50 million. The Series A-1 financing will enable Garuda to advance its pipeline into clinical development, build out its leadership and technical teams, expand in-house manufacturing capabilities and support broader operational needs.
Callio Therapeutics
Key investors: Frazier Life Sciences, Jeito Capital, Novo Holdings, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital, EDBI
Callio Therapeutics has launched with $187 million in Series A funding. It aims to develop multi-payload antibody-drug conjugates (ADCs) to improve outcomes for solid tumors. The company has licensed Hummingbird Bioscience’s multi-payload ADC platform and is advancing a HER2-targeted dual-payload ADC as its lead program, along with a second undisclosed oncology ADC. Callio’s strategy combines innovative linker and payload technologies to deliver multiple agents per antibody. The goal is to increase tumor cell kill while ensuring selectivity and tolerability.
Eikon Therapeutics
Key investors: Alexandria Venture Investments
Eikon Therapeutics merges cutting-edge engineering with advanced molecular and cell biology to expedite drug discovery and development. In February, it announced securing $350.7 million in Series D funding to advance clinical-stage programs and expand its pipeline. Eikon’s clinical portfolio is led by its lead candidate, EIK1001, a systemically delivered TLR7/8 co-agonist currently being evaluated in a Phase III study for advanced melanoma.
Perceive Pharma
Key investors: Deerfield Management
Perceive Pharma, a pharmaceutical company at the forefront of novel small molecule therapeutics in ophthalmology, recently announced the successful completion of a $15 million Series A funding round. This funding round was led by Deerfield Management and supported by Johnson & Johnson. Series A proceeds will be used to advance the development of first-in-class therapies aimed at preventing vision loss in glaucoma, as well as additional programs in undisclosed indications.
Bambusa Therapeutics
Key investors: RA Capital Management
Bambusa Therapeutics, a rapidly expanding biotechnology company, specializes in developing bispecific antibodies for inflammatory and immunological diseases. In February, Bambusa Therapeutics successfully raised approximately $90 million in Series A financing to advance next-generation bispecific antibodies for immunology and inflammatory diseases. The funding will enable Bambusa to progress its lead programs through Phase I studies and continue advancing its broader pipeline.
Newleos Therapeutics
Key investors: Goldman Sachs Alternatives, Novo Holdings, Longwood Fund, DCVC Bio, Arkin Bio Capital
Newleos Therapeutics has raised an oversubscribed $93.5 million Series A to develop a Roche-sourced pipeline of oral small molecules for generalized anxiety, social anxiety, substance use disorders and cognitive impairment. Lead candidate NTX-1955, a first-in-class GABAA-γ1 positive allosteric modulator (PAM), is now in two Phase Ib studies in the EU for generalized anxiety disorder and is designed to modulate amygdala circuits while avoiding the sedation and dependence risks seen with nonselective GABAA PAMs. NTX-1472, a highly selective V1a antagonist, has also received IND clearance for a Phase II trial in social anxiety disorder.
Abcuro
Key investors: NEA, RA Capital Management, Bain Capital Life Sciences, Samsara BioCapital, Sanofi Ventures
Abcuro, a clinical-stage biotechnology company, is developing therapies for autoimmune diseases and cancer. In February, they announced the closure of a $200 million Series C financing round led by New Enterprise Associates (NEA), with Foresite Capital joining and existing investors such as RA Capital Management participating. Proceeds from the Series C round will support completion of the Phase II/III registrational MUSCLE trial of ulviprubart (ABC008), a first-in-class monoclonal antibody targeting KLRG1 for the treatment of inclusion body myositis.
Auron Therapeutics
Key investors: Polaris Partners
Auron Therapeutics, a privately held, patient-centred, platform-powered and product-driven oncology company, announced progress in February for its lead KAT2A/B program and clinical candidate, AUTX-703, as well as the completion of a $27 million Series B financing. Proceeds from the raise will advance AUTX-703 into a Phase I proof-of-concept study in AML. The funding will also support evaluation of KAT2A/B inhibition in autoimmune disease and drive discovery of new epithelial-mesenchymal transition (EMT)-related tumor targets identified through the company’s AURIGIN platform.
AdvanCell
Key investors: SV Health Investors, Sanofi Ventures, Abingworth, SymBiosis, Morningside
AdvanCell has completed a $112 million oversubscribed Series C to expand manufacturing and advance its pipeline of targeted alpha radiopharmaceuticals. Lead asset 212Pb-ADVC001, a PSMA-targeted alpha therapy, is being evaluated in the TheraPb Phase I/II trial for metastatic castration-resistant prostate cancer. Phase Ib data showed no dose-limiting toxicities, with mostly mild and reversible dry mouth. At therapeutic doses, 212Pb-ADVC001 achieved an 80% PSA50 response rate and a 100% response rate in patients with measurable tumors. The new funding supports Phase II expansion across prostate cancer settings and further scale-up in radionuclide therapy.
Atalanta Therapeutics
Key investors: EQT Life Sciences, F-Prime Capital, Sanofi Ventures
Atalanta Therapeutics, a biotechnology company at the forefront of RNA interference (RNAi) research, recently announced the successful completion of a $97 million Series B financing round. This funding will support the commencement of Phase I clinical trials for the company’s investigational RNAi therapies, specifically designed to treat KCNT1-related epilepsy and Huntington’s disease.
Helicore Biopharma
Key investors: Versant Ventures, OrbiMed
Helicore Biopharma is committed to developing innovative therapeutics to address obesity and related metabolic conditions. In January, the company announced its emergence from stealth mode, having secured $65 million in Series A financing. The round was co-led by founding investor Versant Ventures and OrbiMed. Helicore’s lead program, HCR-188, is a clinical-stage monoclonal antibody targeting GIP. The company is also developing a suite of GIP-based antibody conjugates — including GLP-1 combinations — aimed at addressing defined subpopulations within obesity.
Be Biopharma
Key investors: Arch Venture Partners, Atlas Venture, RA Capital Management
Be Biopharma is pioneering engineered B cell medicines (BCMs) to significantly enhance the lives of patients with hemophilia B and other genetic diseases, cancer and other severe conditions. In January, they announced the closure of their $92 million Series C financing round and completed their transition to a multi-program, clinical-stage company. Proceeds from the Series C financing will support clinical proof-of-concept for BE-101 in the ongoing BeCoMe-9 Phase I/II trial for hemophilia B and advance BE-102 for hypophosphatasia into clinical development.
Umoja Biopharma
Key investors: MPM BioImpact, Alexandria Venture Investments
Umoja Biopharma, Inc., a clinical-stage leader in in vivo cell therapies, is poised to realize the full potential of CAR T cells. Earlier this year, they announced an oversubscribed $100 million Series C financing round to advance their in vivo CAR T pipeline through pivotal oncology clinical milestones.
Normunity
Key investors: Samsara BioCapital, Sanofi Ventures
Normunity is a biotechnology leader developing novel anti-cancer therapies. In January, they announced a successful $75 million Series B financing round to accelerate the development of their lead drug program into clinical trials and expand their pipeline of novel anti-cancer therapies that target previously unexplored drug mechanisms. Proceeds from the financing will support advancement of Normunity’s lead candidate, NRM-823, a first-in-class T-cell engager directed at a novel, highly specific tumor antigen found across multiple solid tumor types.
Tune Therapeutics
Key investors: NEA
Tune Therapeutics is pioneering the development of epigenetic silencing drugs through its cutting-edge epigenomic control platform. In January, they announced the successful completion of over $175 million in funding, led by NEA, Yosemite, Regeneron Ventures and Hevolution Foundation. The funding will accelerate advancement of the company’s pipeline, led by Tune-401, its clinical-stage epigenetic silencing therapy for chronic hepatitis B. It will also support development of additional gene, cell and regenerative medicine programs and further the company’s broader mission to apply epigenetic therapeutics to prevalent and chronic diseases.
Windward Bio
Key investors: OrbiMed, Novo Holdings
Windward Bio, a clinical-stage drug development company, is dedicated to enhancing the lives of individuals with severe immunological conditions. Earlier this month, Windward Bio successfully secured a $200 million Series A financing round to advance the development of a Phase II-ready, long-acting anti-thymic stromal lymphopoietin (TSLP) antibody that holds exceptional potential in treating asthma and COPD.
Kardigan
Key investors: Arch Venture Partners
Kardigan, a patient-centric heart health company, is revolutionizing cardiovascular drug development to provide medicines that transcend symptom management and pave the way for functional cures. In January, Kardigan made a significant announcement by launching with a substantial $300 million Series A funding round and acquiring a portfolio of late-stage cardiovascular assets. Funds from the raise will support Kardigan’s work in high-need cardiology indications, beginning with patient segments inadequately served by current therapies, including primary and secondary cardiomyopathies that progress to heart failure.
Ouro Medicines
Key investors: NEA
Ouro Medicines is dedicated to developing immune reset therapies for individuals with chronic immune-mediated diseases. In January, they successfully secured $120 million in Series A funding to develop novel T-cell engagers designed to reset the immune system in chronic immune-mediated diseases.
AnaCardio
Key investors: Novo Holdings, Pureos Bioventures, Sound Bioventures, Flerie, Industrifonden
AnaCardio has secured a $19 million Series A extension to complete its GOAL-HF1 Phase Ib/IIa program of AC01, a selective oral ghrelin receptor agonist for heart failure with reduced ejection fraction. In the Phase Ib cohort, AC01 was well tolerated with no discontinuations, no blood pressure or arrhythmia concerns and confirmed target engagement through growth hormone increases. Exploratory pharmacodynamic signals suggested increases in cardiac index and stroke volume. The 28-day Phase IIa cohort is fully enrolled, with readout expected by year-end 2025.
A2 Biotherapeutics
Key investors: Samsara BioCapital
A2 Biotherapeutics, a clinical-stage cell therapy company, is developing first-in-class logic-gated cell therapies that selectively target tumour cells. Earlier in 2025, the company announced the successful completion of its $80 million Series C financing round, which was supported by a diverse investor syndicate, including The Column Group and Samsara BioCapital. Proceeds will support the company’s three clinical programs and further development of its CAR-T pipeline built on its proprietary Tmod™ platform.
Leyden Labs
Key investors: Polaris Partners, GV
Leyden Labs, a clinical-stage biotech company established in 2020 and headquartered in the Netherlands, raised $70 million to advance its intranasal antibody programs aimed at protecting against influenza and other viral threats. Proceeds from the round will advance the company’s pipeline of programs designed to protect against respiratory viruses, including influenza and coronaviruses.
Timberlyne Therapeutics
Key investors: Bain Capital Life Sciences
Timberlyne Therapeutics is dedicated to developing and commercializing groundbreaking therapies for autoimmune diseases. In January, Timberlyne Therapeutics made a significant milestone by launching with a $180 million Series A financing round. The proceeds will go toward advancing CM313, a potential best-in-class CD38-targeting monoclonal antibody being developed for diseases with significant unmet need.
Coave Therapeutics
Key investors: Novo Holdings, Bpifrance, Invus, UI Investissement, Seroba Life Sciences, Fund+
Coave Therapeutics has raised ~$33 million (~€32 million) in Series A financing to advance its ALIGATER platform, which conjugates targeting ligands onto viral and non-viral vectors to enhance extra-hepatic gene delivery, tissue specificity and safety. The company plans to move two programs into CTA/IND-enabling studies in 2026 across CNS, neuromuscular and ocular diseases. Coave has also nominated CoTx-101, a gene therapy delivered through the suprachoroidal space, for wet AMD and diabetic macular edema. It uses the company’s coAAV-SCS vector, which has shown strong uptake in retinal pigment epithelium (RPE) cells and photoreceptors, as well as signs of immune evasion, in non-human primate studies.
Numab Therapeutics
Key investors: Forbion, Novo Holdings
Numab Therapeutics, a company focused on developing multi-specific antibody-based immunotherapies for both inflammation and cancer, recently announced a significant milestone in its funding journey. In January, Numab Therapeutics successfully secured a Series C extension, raising a substantial CHF 180 million (USD 224 million) in total Series C. Proceeds from the financing will accelerate the development of Numab’s clinical and preclinical pipeline of multi-specific antibodies in inflammation and oncology.
Light Horse Therapeutics
Key investors: Versant Ventures
Light Horse is at the forefront of precision gene editing in the field of small molecule drug discovery. In January 2025, they announced a $62 million Series A financing round. Light Horse has built a proprietary precision gene-editing platform that reveals previously unrecognized functional sites on disease-relevant targets. By interrogating proteins in their native context, the technology enables faster identification of viable drug candidates.
Verdiva Bio
Key investors: Forbion, RA Capital Management, OrbiMed
Verdiva Bio aims to develop cutting-edge therapies for obesity and other cardiometabolic disorders. Verdiva Bio is advancing a diverse portfolio of next-generation oral and injectable treatments with the potential to be first-in-class or best-in-class. The company secured initial funding through an oversubscribed Series A financing round, raising a substantial $411 million.
Tenvie Therapeutics
Key investors: Arch Venture Partners, F-Prime Capital
Tenvie, a biotechnology company dedicated to engineering small molecules that revolutionize the treatment of neurological disorders, announced in January that it would launch with a $200 million investment to deliver groundbreaking small molecule therapies. Tenvie is advancing a wholly owned portfolio of brain-penetrant and peripherally restricted small molecules designed to address three core disease drivers: inflammation, metabolic dysfunction and impaired lysosomal function.
Aviceda Therapeutics
Key investors: OrbiMed
Aviceda is focused on developing the next generation of glyco-immune therapeutics. In January, Aviceda Therapeutics had successfully raised an upsized $207.5 million in Series C financing to advance its lead program, AVD-104, for the treatment of geographic atrophy into pivotal clinical trials.
XyloCor Therapeutics
Key investors: EQT Life Sciences
XyloCor Therapeutics is dedicated to developing novel gene therapies to address unmet needs in advanced coronary artery disease. In January, the company announced the successful completion of a $67.5 million Series B financing round to support a Phase IIb clinical trial (EXACT‑2) of XC001 (encoberminogene rezmadenovec) in patients with refractory angina.
Orbis Medicines
Key investors: Forbion, NEA, Eli Lilly and Company, Novo Holdings
Orbis Medicines, a trailblazer in oral macrocycle drug discovery, recently announced a significant milestone. In January, the company secured a substantial 90 million EUR ($105 million) Series A funding round to accelerate its pipeline development. This funding will support the advancement of a pipeline of oral macrocycle drugs, aptly named “nCycles,” which are meticulously designed to target validated blockbuster biologic targets.
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