Follow the Money: Enveloped Delivery Vehicle Technology, Oral Medication for Inflammatory, Neurological Diseases, More

$185M: Series A for Hypertrophic Cardiomyopathy Therapeutic Candidate 

Braveheart Bio launched with a $185 million Series A financing. Braveheart's small molecule therapeutic candidate, BHB-1893, is a selective cardiac myosin inhibitor engineered to improve heart performance in patients with hypertrophic cardiomyopathy (HCM). In HCM, overcontraction can lead to thickened heart muscle and declining performance in how well the heart fills with and pumps blood. BHB-1893 has undergone a dose-ranging Phase 2 study in symptomatic obstructive HCM (oHCM), an ongoing Phase 2 study in non-obstructive HCM (nHCM), multiple clinical pharmacology studies including a bridging study in Australia, and an ongoing Phase 3 study in oHCM in China. The company plans to initiate global late-stage clinical development for BHB-1893 in 2026.

$157M: Series C for Underserved Bleeding Disorders Treatments 

Hemab Therapeutics completed an oversubscribed $157 million Series C financing round. Sutacimig is being developed as the first-ever prophylactic treatment for Glanzmann thrombasthenia (GT), a serious and potentially life-threatening bleeding disorder. The funds will go into a registration study planned for 2026 and will expand into a Phase 2 study in Factor VII deficiency. The funds also support advancing HMB-002 toward a registration study. HMB-002 is Hemab's antibody-based treatment with Phase 1 proof-of-mechanism data showing that it directly targets the underlying pathophysiology of Von Willebrand disease by increasing both Von Willebrand Factor and Factor VIII levels.

$141M: Series B for Stargardt Disease and Usher 1B Syndrome Trials 

AAVantgarde announced the successful closing of a $141 million Series B financing round. The proceeds from the financing will support the completion of clinical proof-of-concept of AAVantgarde’s AAVB-039 CELESTE study for Stargardt disease caused by a mutation in the ABCA4 gene and the completion of the > 100 patient STELLA natural history study and of AAVantgarde’s AAVB-081 LUCE phase 1/2 clinical trial for retinitis pigmentosa (RP) secondary to Usher 1B due to a mutation in the MYO7A gene. Stargardt disease is the most prevalent macular dystrophy in young people. There are currently no approved treatments. Usher 1B causes progressive vision loss combined with congenital deafness, resulting in a double sensory disability.

$115M: Series D for Pancreatic, Colorectal, and Breast Cancer Trials 

Artios announced the successful closing of an oversubscribed $115 million Series D financing. The proceeds will expand the clinical evaluation of Artios’ lead program, alnodesertib, to enroll additional ATM-negative patients in each of second-line pancreatic cancer and third-line colorectal cancer, for which the program was recently granted U.S. FDA Fast Track Designation. The financing will also be used to initiate a Phase 2 randomized clinical trial for Artios’ second potential first-in-class candidate, ART6043, in patients with BRCA-mutant HER2-negative breast cancer who are eligible to receive a PARP inhibitor.

$82M: Seed Financing and Series A for Enveloped Delivery Vehicle Technology 

Azalea Therapeutics announced its official launch and completion of $82 million in seed and Series A financing to advance its proprietary Enveloped Delivery Vehicle (EDV) technology. Azalea’s EDV technology selectively targets cells, delivering transient CRISPR-Cas9 cargo to mediate programmable genome editing. Combining this with a highly efficient T cell-tropic AAV to deliver a promoterless homology-directed repair template enables programmable, site-specific large gene insertion at defined genomic sites within the T cell. Azalea has utilized this approach to insert chimeric antigen receptor (CAR) genes under an endogenous, T cell-restricted promoter in vivo – enabling durable therapeutic benefit while eliminating the need for ex vivo manufacturing and lymphodepletion. Together, these advances enable precise engineering of functional CAR-T cells within a patient.

$75M: Series A for Antibody Drug Conjugate Platform 

NEOK Bio emerged from stealth mode with $75 million in Series A financing. The funding will be used to advance two bispecific antibody drug conjugate (ADC) programs into the clinic. NEOK is building a pipeline of bispecific ADCs by pursuing validated targets, while balancing high expression, selectivity, and target-related safety signals. NEOK utilizes a proprietary, linker-payload technology (SYNtecan E) that enables ADC generation with strong linker stability and superior biophysical properties. The company aims to overcome the efficacy and safety limitations of conventional ADCs through its bispecific approach which targets unique pairs of cancer targets.

$65M: Series B for Oral Medication for Inflammatory and Neurological Diseases 

Gate Bioscience announced the closing of a $65 million oversubscribed Series B financing. The funding will advance Gate’s lead molecular gate programs into the clinic and support the continued expansion of its differentiated molecular gate programs across inflammation and other therapeutic areas. Gate’s portfolio of molecular gates targets high value, well-validated proteins in inflammatory and neurological diseases through the convenience of a pill.

$64M: Series C for Procizumab in Cardiogenic Shock 

4TEEN4 announced the extension of its Series C financing to $64 million. The funds will further development of procizumab in patients with shock caused primarily by cardiogenic events. The proceeds will also be used to increase the footprint of the PROCARD 2a study across Europe and to support the planned expansion in the U.S., thereby broadening patient access to procizumab and strengthening operational readiness ahead of the pivotal trial.

$47M: Series B for Next-Generation Protein Degrader Platform 

Pinetree Therapeutics successfully closed an oversubscribed $47 million Series B financing. The proceeds will advance its lead preclinical oncology programs to Phase I clinical studies and accelerate development of Pinetree's AbReptor platform. The platform has demonstrated compelling preclinical efficacy and safety in degrading receptor tyrosine kinases that drive tumor growth and resistance, including targets refractory to existing tyrosine kinase inhibitors and immune checkpoint therapies.

$40M: Financing for Whole-Body Chronic Disease Monitoring 

Curve Biosciences has raised $40 million in funding. The proceeds will advance the clinical validation and commercialization of Curve’s Whole-Body Intelligence platform for chronic disease monitoring. The platform, Whole-Body Atlas, is the world’s largest collection of manually curated tissue samples characterized by organ and disease state. By returning to tissue-level biological truth, the company is creating simple, proactive Whole-Body Blood Tests that anticipate chronic disease, guide treatment, and align patients, insurers, pharma, and doctors.

$25M: Series A for Tumor-Killing Drug 

Onchilles Pharma announced the closing of a $25 million Series A1 financing to advance its lead drug candidate, N17350. The clinical proof-of-concept was published in Cell Reports Medicine (DOI: 10.1016/j.xcrm.2025.102446). The data from the study highlight N17350’s ability to drive both direct tumor killing and CD8+ T cell–mediated immune activation, in part, by leveraging elevated histone H1 levels, a feature of many malignant cancer cells. With this, Onchilles plans to initiate a first-in-human trial of N17350, a tumor-directed injectable, in patients in Australia early next year, with IND clearance in the U.S. and U.S. patient enrollment expected in mid-2026. The study will evaluate safety, monotherapy activity, and biomarkers of immune activation across multiple solid tumor types, including breast, skin, and head and neck cancers.

$22M: Series A for AI Drug Discovery Platform 

TandemAI has secured a $22 million Series A extension to further develop its drug discovery platform, which combines advanced AI, physics-based computational methods, and wet lab capabilities. TandemAI’s AI-powered, fully integrated drug discovery engine has delivered over ten high-value, highly differentiated candidates that are now in—or soon to enter—clinical development. The company has also partnered with four of the world’s top ten multinational pharmaceutical companies, building a network of more than 150 global partners and clients.

$12.7M: Seed Financing for De Novo Protein Therapies  

Accipiter Bio emerged from stealth with $12.7 million in seed financing. Proceeds will be used to build Accipiter Bio’s pipeline in immunology and oncology, further enhance the company’s computational platform and advance up to two programs to pre-IND. Accipiter Bio’s computational platform is paired with high-throughput experimentation to create custom, multifunctional de novo biologic therapeutics — entirely new proteins built from scratch rather than modified from those found in nature.

$12M: Seed Financing for Disease-modifying Drugs 

Scripta Therapeutics emerges from stealth with a $12 million seed round. Scripta combines AI, imaging, and unique patient-derived models to create and modulate disease maps based on transcriptional networks, building a new biology-first paradigm to decode and undo the programs that drive disease.

$10M: Grant for Precision Models to Study Rare Genetic Diseases 

Baylor College of Medicine’s Center for Precision Medicine Models has received a five-year, $10 million grant from the National Institutes of Health to continue its work using precision models to study rare genetic diseases. The center creates customized cell, fly, and mouse models that mimic specific genetic variations found in patients. These models help scientists understand how genetic changes cause disease and explore potential treatments. With this new round of funding, the center will continue to build strong partnerships and resources at Baylor College of Medicine, bringing together experts in rare disease research, animal modeling, and bioinformatics to drive discovery and improve patient outcomes.