Follow the Money: Molecular Glue Degrader, Physical AI Scientists, TNF Programs

$130M: Series B for First-in-Class AL Amyloidosis Program 

Protego Biopharma announced the completion of an oversubscribed $130 million Series B financing. Proceeds will advance Protego's lead candidate, PROT-001, into a pivotal clinical trial for AL amyloidosis, a rare and often fatal condition caused by protein misfolding that leads to organ damage, especially in the heart.

$120M: Series B for Molecular Glue Degrader 

TRIANA has closed its oversubscribed $120 million Series B financing round. The proceeds will support development of lead product candidate TRI-611, an anaplastic lymphoma kinase–positive (ALK) targeted molecular glue degrader, to clinical proof of concept in ALK+ non-small cell lung cancer (NSCLC), selection of a second product candidate in 2026, and the advancement of TRIANA’s product pipeline beyond TRI-611. While advances in ALK tyrosine kinase inhibitor therapies have markedly improved outcomes for patients with ALK+ NSCLC, acquired resistance and tolerability issues remain key challenges in this predominantly younger lung cancer subpopulation. Addressing this need presents a significant opportunity to advance the standard of care and improve the lives of patients living with ALK+ NSCLC. 

$84M: Series B for Cancer Medicines 

BlossomHill Therapeutics announced the closing of an $84 million Series B extension, bringing total capital raised by BlossomHill to $257 million to date. Proceeds from the financing will be used to accelerate BlossomHill’s two lead clinical programs, BH-30643 (OMNI-EGFRT inhibitor) and BH-30236 (CLK inhibitor), and to further advance the company’s wholly-owned pipeline of intelligently designed cancer medicines. 

$70M: Series A for Obesity Programs 

Prolynx has closed a $70 million Series A financing. The proceeds will be used to address the unmet need for long-term adherence and persistence in metabolic disease. Prolynx is advancing a proprietary portfolio of extended-duration therapeutic candidates, targeting once monthly and
once-quarterly dosing that are optimized to smooth the peaks and troughs that can contribute to tolerability issues, as well as to support more consistent, long-term treatment. 

$52M: Series A for Physical AI Scientists 

Medra announced a $52 million Series A financing. Medra unifies robotics, AI, and data generation into a continuous system. Medra’s Physical AI autonomously runs experiments end-to-end, interfacing with standard laboratory tools and instruments and allowing scientists to adapt workflows through natural-language instructions. Its companion system, Medra’s Scientific AI, interprets results and co-pilots protocol improvements to enhance experimental outcomes and create a continuous learning engine. 

$47.5M: Series A for TNF Programs 

PsiThera has closed $47.5 million in Series A financing. The funds will be used to advance PsiThera’s growing pipeline, starting with multiple clinically validated Tumor Necrosis Factor superfamily preclinical programs. PsiThera’s platform, QUAISAR, leverages quantum chemistry, molecular dynamics, machine learning, and supercomputing to model how proteins and drugs behave in biological environments. It will enable rapid cycle times, moving from hit identification to lead optimization in four months, underscoring its ability to translate complex physics and AI insights into actionable design decisions. 

$40M: Series A for Scalable Cell Therapy Manufacturing 

Cellular Origins has completed a $40 million over-subscribed Series A round. Cell therapies require a lot of labor, meaning they are difficult to get to patients who could benefit from their treatment. Cellular Origins removes this barrier by applying its proprietary robotic automation to connect individual third party unit operations already used in cell therapy processes. The resulting Constellation platform not only preserves biological performance, but also delivers the reliable, low-risk and space-efficient pathway to scale that pharma companies need as they seek to meet increasing patient demand.  

$33M: Series A for Focal Refractory Epilepsy Treatment 

EpilepsyGTx has raised $33 million in a Series A financing to advance its lead program EPY201 through Phase 1/2a clinical trials. The clinical trials will establish the safety and efficacy of the company’s lead gene therapy program EPY201 in a broad population of patients with focal refractory epilepsy (FRE). EPY201 is an adeno-associated viral gene therapy designed to reduce neuronal hyperexcitability. It is delivered locally to the epileptogenic focus of the patient and therefore avoids the complications of systemic delivery. EPY201 offers FRE patients the prospect of seizure freedom in a single intervention without resection or ablation of brain tissue and without the chronic use of multiple antiseizure medicines. 

$20.9M: Series A for ALS Drug Candidate 

Axoltis Pharma has raised $20.9 million to accelerate the development of an amyotrophic lateral sclerosis (ALS) drug candidate. The company’s lead candidate is NX210x, currently in a Phase 2 SEALS clinical trial. The current trial is meant to evaluate the efficacy and tolerability of NX210c in 82 patients with ALS. The trial also measures how the drug candidate helps repair the blood-brain barrier, which becomes damaged in many neurodegenerative disorders such as ALS, Alzheimer’s disease, multiple sclerosis, and Parkinson’s disease. 

$15M: Series A for First-in-Class Circular RNA Platform for Alzheimer’s 

Circular Genomics announced the successful closure of a $15 million Series A financing round. The funds will accelerate the clinical development and commercialization of Circular Genomics' proprietary circRNA biomarker platform for the early detection of Alzheimer's disease (AD), advancing the company's mission to reshape the standard of care for all neurological disorders. 

$14M: Series A for Novel 6-Lead Wireless Heart Monitor 

Wearlinq announced $14 million in Series A funding. Heart disease is the leading cause of death in the U.S. Despite the significant human loss and financial costs, cardiologists still lack a high-quality method for wirelessly monitoring hearts at home or in the hospital. Wearlinq’s eWave is the first continuous, multi-lead (6-lead) ECG in a small, wireless form factor that patients will actually wear. It’s the only continuous cardiac monitor that pairs with the patient’s personal phone, runs for 5+ days between charges, and delivers near-real-time data and reports to clinicians. Currently, it is used to detect arrhythmias and will eventually scale to other clinical indications. Wearlinq’s eWave is FDA 510(k)-cleared. 

$10M: Financing for Nonsurgical Brain-Computer Interfaces 

Subsense has added $10 million following positive early breakthroughs, bringing total funding to $27 million. Subsense is building a bidirectional BCI platform designed to record and modulate brain activity without surgical implants. Its technology pairs engineered nanoparticles, administered nasally to cross the blood-brain barrier, with proprietary hardware and signal-processing software. Together, these systems aim to achieve higher temporal and spatial resolution of reading and stimulation than current solutions, while also avoiding the risks and costs associated with surgically invasive electrodes or “brain chips.”

$10M: Series A for Expanding Clinical Trial Access 

Trial Library announced a $10 million Series A funding round. The proceeds, which bring the total funding to date of $15 million, accelerate Trial Library's mission to make clinical research a core part of standard of care, bridging access gaps for patients, empowering healthcare providers and aligning payers and biopharmaceutical sponsors around a more efficient and equitable research ecosystem. Trial Library's platform unlocks access to clinical trials in community-based clinical settings through AI-enabled provider activation, compliant eligible patient identification and longitudinal navigation throughout the trial lifecycle. Trial Library currently operates across 320+ clinics and 1,500+ providers nationwide and is rapidly expanding its network alongside growing partnerships with payers such as self-insured plans and health plans. 

$5.5M: Series A for High-Concentration Caffeine Therapy 

OYE Therapeutics has raised $5.475 million in a Series A financing. The company’s proprietary product, comprised of high-concentration caffeine, expects to begin a Phase 1 clinical trial Q1 2026. The Phase 1 trial will focus on evaluating the pharmacokinetics, safety, tolerability, and efficacy of its intravenous high-concentration caffeine candidate. The first phase will evaluate the product in healthy volunteers while the second phase will evaluate patients with simulated fentanyl intoxication. Results from this trial will inform subsequent studies. 

$5.1M: Seed Financing for Modulating Mast Cells 

ALLEGRIA successfully completed a $5.1 million seed extension financing. The funds will be used to progress the company’s lead program toward pre-clinical candidates in support of nomination its first clinical candidate, while at the same time meaningfully advancing its discovery-stage programs. ALLEGRIA is progressing a differentiated portfolio of proprietary therapeutic approaches and targets to selectively modulate mast cells. By leveraging its unique insights and strategy, it has identified differentiated molecules that have great promise for the development of transformative therapies with first-in-class and best-in-disease potential for the treatment of patients with allergies and related inflammatory conditions. 

$4M: Series A for Chronic Stable Angina Treatment 

Auxilius Pharma announced a $4 million Series A financing round that will accelerate the company’s research, development, and clinical advancement of its lead cardiovascular program, AUX-001, an innovative once-daily formulation designed for the treatment and prevention of chronic stable angina. Specifically, the funds will support a Phase 1b trial. AUX-001 is positioned to become the first new innovative oral therapy for chronic stable angina in the United States since 2006.