Biotech funding in 2026 is starting the year with sizable rounds across neuropsychiatry, immunology and respiratory disease, alongside continued investor interest in platform-driven drug discovery.
In addition, AI and machine learning are increasingly embedded across target identification, molecule design and trial analytics, helping companies move more efficiently from discovery into the clinic and drawing sustained venture interest in both platform and asset-centric models.
At the same time, evolving regulatory pathways for complex and personalized therapies, along with continued unmet need across neurology, immunology, oncology and cardiometabolic disease, are influencing where capital is deployed.
Early financings are backing programs moving into or through Phase I to II studies, while larger late-stage rounds are supporting multi-asset pipelines with multiple near-term readouts.
Below is a selection of biotech companies that secured venture capital investment in 2026, ordered from most recent, based on reporting from BioPharma Dive.
Vima Therapeutics
Key investors: Frazier Life Sciences, Atlas Venture, Access Industries, Canaan Partners
Vima Therapeutics extended its Series A to $100 million, adding $40 million to advance VIM0423, an oral therapy for movement disorders. The drug is being studied in Phase II trials for dystonia and Parkinson’s disease, with the first dystonia patient already dosed. A Parkinson’s trial is expected to start in mid-2026, with topline data from both studies anticipated in H1 2027. VIM0423 targets muscarinic receptors, which help regulate movement signals in the brain, and has received FDA Fast Track designation for dystonia.
Mestag Therapeutics
Key investors: SV Health Investors, Johnson & Johnson Innovation (JJDC), Forbion, GV, Northpond Ventures
Mestag Therapeutics raised $40 million to support its pipeline based on fibroblast immunology, a field studying how connective tissue cells influence immune activity. The funding will assist a Phase I trial of MST-0312, a bispecific antibody designed to activate immune responses within tumors. The study is expected to begin in mid-2026 in patients with solid tumors, including those that may not respond well to current immunotherapies.
Crossbow Therapeutics
Key investors: Taiho Ventures, Arkin Bio Capital, Sixty Degree Capital, Hamilton Square Partners, LifeLink Ventures, Libbs Ventures, Blood Cancer United TAP, MPM BioImpact, Pfizer Ventures, BVF Partners, Polaris Partners, Eli Lilly, Mirae Asset Venture Investment
Crossbow Therapeutics raised $77 million in a Series B to advance its T-cell engager (TCE) therapies for cancer. These therapies are designed to help immune cells recognize and kill cancer cells by targeting tumor-specific proteins. The funding will support completion of a Phase I trial of CBX-250 in myeloid cancers, with initial data expected in late 2026. It will also support a Phase I trial of CBX-663, targeting TERT-expressing tumors, planned for Q3 2026.
Congruence Therapeutics
Key investors: Dimension, OrbiMed, Amplitude Ventures, Lumira, Investissement Québec, BDC Capital, Driehaus, Silver Arc
Congruence Therapeutics gathered $39.5 million to boost its pipeline of small-molecule correctors for diseases caused by misfolded proteins. These therapies are designed to help proteins fold and function properly. The funding will support a Phase I/Ib trial of CGX-926 for genetic obesity, as well as preclinical programs in Parkinson’s disease and alpha-1 antitrypsin deficiency. The company uses a computational platform to model protein behavior and design targeted therapies.
Immutrin
Key investors: Frazier Life Sciences, F-Prime, Qiming Venture Partners, SR One, Cambridge Innovation Capital, Cambridge Enterprise Ventures
UK-based Immutrin brought in ~$87 million (£65 million) in a Series A to further an antibody therapy for ATTR amyloidosis, a condition caused by harmful protein buildup in organs. The lead program is designed to remove existing amyloid deposits, rather than only slowing their formation. This approach may help restore organ function. Proceeds will support development through clinical proof of concept in ATTR cardiomyopathy, with potential expansion into other amyloidosis types.
Pinnacle Medicines
Key investors: LAV, Foresite Capital, Quan Capital, Hankang Capital, RA Capital Management, Logos Capital, OrbiMed
Pinnacle Medicines closed an oversubscribed $89 million Series B to aid its pipeline of oral peptide therapeutics. Peptides are typically delivered by injection, but the company is developing versions that can be taken as pills. The funding will help advance lead programs through clinical proof of concept, with an initial focus on immunology and cardiometabolic diseases. Pinnacle uses AI and physics-based modeling to design these therapies and has raised about $134 million to date.
Ambrosia Biosciences
Key investors: Blue Owl Healthcare Opportunities, Redmile, Deep Track Capital, BVF Partners, Boulder Ventures, Janus Henderson Investors, Samsara BioCapital
Ambrosia Biosciences’ oversubscribed $100 million Series B funding will back its oral small-molecule GLP-1 program into the clinic. The company plans to initiate a Phase I trial of its lead candidate, while continuing development of additional programs targeting GIP and amylin, two pathways involved in metabolism. These therapies are designed to act on GPCRs, a class of receptors that regulate appetite and energy balance. The funding will also support broader pipeline development in cardiometabolic diseases.
Stipple Bio
Key investors: RA Capital, a16z Bio+Health, Nextech Invest, Emerson Collective, GV, LoLa Capital Partners, GordonMD Global Investments
Stipple Bio launched with an oversubscribed $100 million Series A to foster precision oncology therapies. The company’s lead candidate, STP-100, is an antibody-drug conjugate (ADC) designed to target tumor-specific markers while limiting effects on healthy tissue. The drug is expected to enter early clinical studies in 2027. Stipple uses its Pointillist platform to identify tumor-specific cell surface features, supporting the development of additional targeted cancer therapies.
Sidewinder Therapeutics
Key investors: Frazier Life Sciences, Novartis Venture Fund, OrbiMed, Life Sciences at Goldman Sachs Alternatives, DCVC Bio, Samsara BioCapital, Longwood Fund, Astellas Venture Management
Sidewinder Therapeutics reported a $137 million in funding in a Series B to develop bispecific ADCs for cancer. These therapies are designed to bind two targets on tumor cells, improving the precision and delivery of cytotoxic drugs. The company’s approach focuses on receptor co-complexes, which may help distinguish cancer cells from normal tissue. Sidewinder plans to advance its lead program into clinical development in 2027, focusing on solid tumors such as lung, head and neck and colorectal cancers.
Oricell Therapeutics
Key investors: Vivo Capital, Beijing Medical and Health Care Industry Investment Fund, Qiming Venture Partners, sovereign wealth fund and additional investors
Oricell Therapeutics landed more than $110 million in pre-IPO financing to advance its pipeline of CAR-T cell therapies for cancer. The funding will support global clinical development and expansion of its manufacturing and technology platforms. The company’s lead program, Ori-C101, targets GPC3 and is being developed for hepatocellular carcinoma, with plans to move into pivotal trials. Oricell is also advancing next-generation CAR-T approaches, including programs designed for faster production and broader application in solid tumors.
Neomorph
Key investors: Deerfield Management, Regeneron Ventures, Longwood Fund, Alexandria Venture Investments, Binney Street Capital and others
Neomorph secured $100 million in a Series B to steer its pipeline of molecular glue degraders, a class of therapies that trigger the breakdown of disease-causing proteins. The proceeds will support an ongoing Phase I/II trial of NEO-811 for advanced or metastatic clear cell renal cell carcinoma. NEO-811 is designed to degrade ARNT (HIF-1β), a protein involved in tumor growth pathways. The company is also advancing a broader pipeline targeting proteins that have been difficult to treat with conventional drugs.
Adcendo
Key investors: Jeito Capital, Vida Ventures, Bpifrance, EIFO, RA Capital Management, TPG, OrbiMed, Venrock and others
Adcendo brought in $75 million in a Series C to advance its pipeline of ADCs) for cancer. The funding will support multiple clinical programs, including ADCE-T02, a tissue factor-targeting ADC in a Phase I study for advanced solid tumors. The company is also advancing ADCE-D01 for soft tissue sarcoma, which has received FDA Orphan Drug designation, and ADCE-B05, a first-in-human ADC program for squamous cell cancers.
Alloy Therapeutics
Key investors: 8VC, JIC Venture Growth Investments, Echo Capital, Mubadala Capital, Founders Fund, Alexandria Venture Investments and others
Alloy Therapeutics raised $40 million in a Series E to expand its AI-enabled drug discovery and development platform. The company provides infrastructure and services to support biotech programs across modalities such as antibodies, genetic medicines and cell therapies. Alloy has worked with more than 200 partners and supported over 100 therapeutic programs, including 22 in clinical development. The funding will be used to expand its discovery capabilities and integrate AI, real-world data and lab-based research across the drug development process.
Beeline Medicines
Key investors: Bain Capital
Beeline Medicines launched with a $300 million Series A to advance a pipeline of precision therapies for autoimmune and inflammatory diseases. Its lead program, afimetoran, is an oral TLR7/8 inhibitor being studied in systemic lupus erythematosus (SLE). The drug has shown early clinical activity and is expected to complete a Phase II trial in the second half of 2026, with plans to move into pivotal studies. The company’s pipeline includes additional programs targeting immune pathways such as IL-2, TYK2, IL-18 and IL-10.
Terremoto Biosciences
Key investors: RA Capital Management, Deep Track Capital, Osage University Partners, BeOne Medicines, OrbiMed, Third Rock Ventures, Novo Holdings
Terremoto Biosciences reported $108 million in Series C funding to advance its AKT1-selective inhibitor programs. The company’s lead oncology program, TER-2013, is in a Phase I trial for solid tumors with alterations in the PI3K/AKT pathway. It is also developing TER-4480 for hereditary hemorrhagic telangiectasia (HHT), a rare vascular disorder with no approved treatments, with plans to enter the clinic later in 2026. These therapies are designed to selectively target AKT1, a key driver of disease, while avoiding side effects linked to other AKT isoforms.
Ray Therapeutics
Key investors: Janus Henderson Investors, Adage Capital Management, Franklin Templeton, Invus, Marshall Wace, 4BIO Capital, Deerfield Management, MRL Ventures Fund and others
Ray Therapeutics landed $125 million in Series B funding to advance its vision restoration therapies for retinal diseases. The company’s lead program, RTx-015, is being developed for retinitis pigmentosa, with funding supporting late-stage clinical development and commercial readiness. Ray is also advancing RTx-021 for Stargardt disease and geographic atrophy. The company uses optogenetics, a technique that introduces light-sensitive proteins into retinal cells to help restore visual function.
FAQs
What do Series A, B, C, D and E funding rounds mean in biotech?
Series A, B, C, D and E funding rounds give a quick sense of where a company is in its growth path.
Series A: Early stage. Usually supports initial development and early clinical planning.
Series B: Mid stage. Often funds clinical trials and pipeline expansion.
Series C: Later stage. Can support larger trials and broader operations.
Series D: Late stage. Often helps fund advanced trials, manufacturing scale-up or regulatory preparation.
Series E and beyond: Very late stage. May support final trial stages, commercialization or pre-IPO positioning.
As companies move forward, funding rounds often get larger, and the milestones get bigger, too.
What does “oversubscribed” mean in a funding round?
An oversubscribed round means more investors wanted in than the company originally planned for. That can lead to a larger raise than expected. It often points to a strong interest in the company’s work.
Why do biotech companies raise funding before clinical trials?
Clinical trials are expensive and complex. They require regulatory work, manufacturing and patient recruitment. Raising funding ahead of trials helps companies generate the early data needed to move programs forward and attract future investment.
What does “pre-IPO financing” mean?
This is funding raised before a company goes public. It can help scale the business or strengthen the balance sheet ahead of an IPO.
Why do funding announcements list investors?
Investor lists show who is backing the company. That gives readers useful context. Well-known investors can signal confidence in the company’s work.
What do terms like non-dilutive funding, co-led financing and syndicate mean in biotech?
These terms describe how a funding round is put together.
Non-dilutive funding means the company raises money without giving up ownership. This can include grants, partnerships or some loans.
Co-led financing means two or more investors are leading the round, often with larger investments and sometimes board seats.
Syndicate refers to the full group of investors in the round.
These structures are common in biotech, where development is costly, and companies often raise capital from multiple sources.
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