Follow the Money: Autoimmune Disease Treatments, Next-Gen Bispecific Antibodies, More

$213M: Series D for Autoimmune Disease Treatments 

Odyssey Therapeutics announced the closing of a $213 million Series D financing. Proceeds will support the advancement of Odyssey’s portfolio of clinical and preclinical medicines designed to precisely treat the drivers of complex autoimmune diseases. Odyssey aims to transform the standard of care for patients suffering from autoimmune and inflammatory diseases by developing medicines that precisely target disease pathology.

$133M: Series A for Adjustment Disorder Clinical Trial 

Reunion Neuroscience has closed its Series A financing. In addition to fully funding Reunion’s ongoing REKINDLE Phase 2 clinical trial in Adjustment Disorder (AjD) in cancer and other medical illnesses, proceeds from the upsized closing will be used to expand the clinical development of RE104 into generalized anxiety disorder (GAD). Reunion Neuroscience expects to initiate the RECLAIM Phase 2 clinical trial, which will evaluate the efficacy and safety of RE104 in adults with GAD, in the first quarter of 2026.

$115M: Financing for Allogenic CAR-T Therapy Study 

Wugen announced the closing of $115 million equity financing. The proceeds will advance the ongoing pivotal T-RRex study of WU-CART-007 in relapsed/refractory T-cell acute lymphoblastic leukemia (T-ALL) and T-cell lymphoblastic lymphoma (T‑LBL). Soficabtagene geleucel, or WU-CART-007, is a CD7-targeted, CRISPR-edited allogeneic CAR-T cell therapy with potential to be the first approved “off-the-shelf” CAR-T for T-cell malignancies. In a completed global Phase 1/2 study, WU-CART-007 achieved an overall response rate (ORR) of 91% and a composite complete remission (CRc) rate of 73% at the recommended Phase 2 dose.

$93M: Series A for Degenerative Eye Disease Treatments 

Character Biosciences announced an oversubscribed $93 million Series B financing round to accelerate the advancement of its pipeline of precision therapies to treat degenerative eye diseases, starting with age-related macular degeneration (AMD). Despite its complexity, AMD has long been treated as a uniform disease, contributing to high failure rates in drug development. To apply a precision medicine approach to this disease, Character Bio has partnered with over 150 ophthalmology treatment centers across the U.S. to conduct an AMD-focused observational trial, integrating genetics with longitudinal clinical and imaging data for over 6,500 consented patients.

$87M: Series B for Myotonic Dystrophy Type 1 Treatment 

ARTHEx Biotech successfully closed its upsized Series B financing with new investor Bpifrance, bringing the total size of the funding round to $87 million. Proceeds from the financing will be used to further advance the global clinical development of ARTHEx's lead program, ATX-01 for Myotonic Dystrophy Type 1 (DM1), including the ongoing interventional Phase I/IIa ArthemiR study and the preparation for an open-label extension to support a registrational study.

$80M: Series B for Next-Gen Menin Inhibitor for Acute Myeloid Leukemia 

CHARM Therapeutics closed an oversubscribed Series B funding round, raising $80 million to advance its next generation menin inhibitor into clinical development. CHARM Therapeutics is pioneering a new generation of menin inhibitors designed to overcome the limitations of first-generation menin inhibitors. Using its proprietary protein-ligand co-folding platform DragonFold, CHARM has identified a development candidate that retains potency against all publicly described clinical resistance mutations, demonstrating robust tumor regression in preclinical models.

$67M: Series B for ALS and MND Trials 

NRG Therapeutics has closed its oversubscribed $67 million Series B financing. The financing will enable NRG Therapeutics to achieve clinical proof of concept in amyotrophic lateral sclerosis (ALS)/motor neurone disease (MND), while also generating meaningful clinical data in Parkinson’s patients through a Phase 1b study. NRG’s lead development candidate, NRG5051, has been shown to be profoundly neuroprotective and significantly reduces neuroinflammation in pre-clinical models of Parkinson’s and ALS/MND. NRG5051 has completed IND-enabling studies and is on track to enter first-in-human clinical studies in early 2026.

$65M: Series A for Next-Gen Bispecific Antibodies 

Dualitas launched from stealth with a $65 million Series A financing. The funds will be used to advance a portfolio of next-generation bispecific antibodies (BsAbs), including lead programs DTX-103 in allergic disease and DTX-102 for autoimmune disease, and to accelerate the development of Dualitas' proprietary DualScreen BsAb discovery engine. DualScreen operates at combinatorial scale to functionally identify candidates with highly differentiated activity, including through cell-surface proximity mechanisms, across the unexplored co-target space.

$59M: Series B for Blood-Based Ovarian Cancer Test 

Mercy BioAnalytics announced the closing of a $59 million series B financing. The financing will support the commercialization of Mercy’s blood-based ovarian cancer test portfolio, designed to detect ovarian cancer at earlier, more treatable stages across multiple indications. The Mercy Halo ovarian cancer screening test exhibits unprecedented sensitivity and specificity for the detection of pre-clinical high grade serous ovarian carcinoma in post-menopausal women based on a blinded evaluation of samples from a randomized controlled trial.

$50M: Series A for Clinical Program for Pulmonary Hypertension 

AllRock Bio announced a $50 million Series A round. Proceeds will advance AllRock's lead molecule, ROC-101, which the company exclusively licensed from Sanofi, into Phase 2 clinical development. ROC-101 is a first-in-class, oral pan-rho-associated protein kinase (ROCK) inhibitor to treat pulmonary arterial hypertension (PAH) and pulmonary hypertension with interstitial lung disease (ILD-PH). Both are life-threatening conditions with five-year survival rates of 57% and 38%, respectively, and very limited disease-modifying treatments exist for these patients. ROC-101 has the potential to address a significant unmet need by targeting inflammatory, proliferative, and fibrotic disease-associated remodeling mediated by both ROCK2 and ROCK1.

$50M: Series A for AI-powered Automated IVF Laboratory 

Conceivable Life Sciences announced its $50 million Series A financing to accelerate the development and commercialization of the world's first AI-powered automated IVF laboratory. The funding will support the company's mission to make this Nobel Prize-winning therapy more accessible, scalable, and effective at delivering improved pregnancy results.

$45M: Series B for In Vivo Gene-editing Therapeutics 

YolTech Therapeutics announced the closing of its approximately $45 million Series B financing. The proceeds will support the advancement of YolTech’s clinical programs and global strategic execution. YolTech Therapeutics is advancing next-generation in vivo gene-editing therapies designed for one-time treatment. The company has built a fully integrated platform encompassing proprietary CRISPR nucleases (YolCas), base editors (YolBE), and a cutting-edge lipid nanoparticle delivery system (Yol-LNPs), enabling precise, efficient, and tissue-specific gene editing across a broad range of therapeutic areas.

$44M: Series B for Esophageal Diagnostic Platform  

Cyted Health announced a first close of $44 million in its Series B financing round. The financing will be used to accelerate the commercial expansion of Cyted’s diagnostics platform in the U.S., consolidate existing commercial success across the U.K., and expand its portfolio of advanced diagnostic tests. Cyted’s existing platform consists of EndoSign, an FDA 510(k)-cleared device enabling minimally invasive collection of esophageal cells, and advanced biomarker molecular testing for the detection of esophageal conditions.

$35.6M: Series C for Multiple Sclerosis Test Commercialization 

Octave Bioscience has closed close of its $35.6 million Series C equity financing and entered a $15.5 million non-dilutive term loan agreement with Silicon Valley Bank. Proceeds of the financing will support continued commercialization of Octave’s MSDA test, a first-of-its-kind test for MS disease activity, as well as advancement of the company’s pipeline in Parkinson’s disease.

$25M: Seed Financing for AI-enabled Precision Therapeutics 

Ridge Biotechnologies emerged from stealth with an oversubscribed $25 million in seed financing. Ridge Bio is pioneering enzyme and targeted drug design to power the next wave of precision medicines. Their platform uses proprietary machine learning models informed by high-throughput, cell-free experimentation for a wide range of applications in antibody-drug conjugates (ADCs), in vivo CAR-T therapies, targeted nucleic acid delivery, small molecule biocatalysis, radiotherapies, and enzyme-based therapeutics.

$19M: Series A for 3D Multi-omics 

Enhanced Genomics has completed a financing round, extending its total Series A funding to $19 million. The funding will be used to expand Enhanced’s internal therapeutic pipeline in common diseases, including autoimmune conditions such as inflammatory bowel disease. The latest investment will enable the company to scale its output through strategic partnerships with pharma and biotech, leveraging novel target identification and asset-based opportunities to drive long-term growth.

$8M: Seed Financing for Novel Class of Therapeutic Targets 

Immuto Scientific announced the closing of an oversubscribed $8 million seed financing round and a drug discovery collaboration with Daiichi Sankyo. Immuto Scientific is applying its AI-enabled structural surfaceomics platform to a new approach in drug discovery. With the funds, the company will advance its internal oncology pipeline toward IND-enabling studies and extend the platform into additional areas such as immunology and inflammation.

$4.7M: Seed Financing for AI for Solving Trial Recruitment Failure 

Trially announced $4.7 million in funding and launched Margo, its agentic AI solution that multiplies trial enrollment by converting patient matches into participants. Clinical trial recruitment failures are one of healthcare’s most urgent challenges and cause delayed treatment for patients. Trially is the first fully integrated AI platform to tackle the root cause of delay. Its HIPAA-compliant LLM agents safely analyze unstructured medical data to instantly match, connect, and enroll patients in relevant trials, transforming a process that once required hundreds of hours of manual chart reviews and cold calling into instant enrollment opportunities.