$426.3M: Series A for Autoimmune and Inflammatory Disease Therapy 

Beeline Medicines closed a $126.3 million Series A extension, bringing its total Series A financing round to $426.3 million. The company is advancing a differentiated portfolio of highly selective therapeutic candidates with biologically validated mechanisms to target the underlying causes of immune-mediated diseases, with the ambition of meaningfully improving patient outcomes. Afimetoran, Beeline Medicines’ lead program, is a selective, small molecule, once-daily, equipotent TLR7/8 inhibitor with the potential to be a best-in-disease oral therapy for lupus. Beeline Medicines is also advancing BLN-326 (formerly BMS-986326), a novel IL-2-CD25 fusion protein that is a potential leading candidate for diseases characterized by regulatory T cell (Treg)/effector T cell imbalance, including atopic dermatitis and lupus, where phase 1b studies are ongoing. Over the next 12 months, the company expects to initiate additional clinical trials across its pipeline, including for lomedeucitinib, an allosteric TYK2 inhibitor with the opportunity to be a first-in-class therapy for rare autoimmune and inflammatory conditions, and BLN-481 (formerly BMS-986481), a novel anti-IL-18 receptor beta antibody with a planned phase 1 single and multiple ascending dose study in healthy volunteers.

$315M: Series D for Metastatic Prostate Cancer Therapy 

AdvanCell closed an oversubscribed and upsized $315 million Series D financing. The financing will advance ADVC001, AdvanCell’s novel Lead-212 PSMA-targeted radioligand therapy for metastatic prostate cancer, toward phase 3 clinical development in metastatic prostate cancer, expand AdvanCell's proprietary Lead-212 platform, strengthening isotope supply and expanding U.S. manufacturing infrastructure to support phase 3 development and future commercial demand, and accelerate AdvanCell’s growing pipeline of targeted alpha therapies.

$227M: Financing for Multiple Healthcare Innovations 

Fresenius expanded its access to innovation networks through its own corporate venture capital fund with an intended investment volume of $227 million over the next five years. Fresenius Ventures is targeting growth fields adjacent to Fresenius' existing strategic platforms (Bio)Pharma, MedTech, and Care Provision. Potential investment areas include precision nutrition, microbiome research, new modalities, and digital care provision solutions.

$190M: Series B for Pipeline Advancement for Ophthalmology and Cardiology 

Osanni announced the closing of a $190 million Series B financing. The proceeds from the financing will be used to advance the company’s current pipeline of multiple programs and fuel the scaling of its unique discovery and development process, including ophthalmology and cardiology.  

$150M: Series C for Off-the-Shelf CAR-T Therapies 

Allotera Therapeutics (formerly Wugen) announced the successful closing of a $35 million financing round comprising equity and venture debt, adding to the company’s $115 million Series C from late 2025. The company’s new name reflects its sharpened focus on advancing off-the-shelf CAR-T cell therapies for patients with T-cell cancers. Proceeds will primarily support the ongoing global pivotal T-RRex clinical trial of Soficabtagene Geleucel, also known as Sofi-cel, in relapsed or refractory T-ALL/T-LBL, as well as advance platform capabilities, operational scale-up, and continued team growth.

$115M: Series A for Full Season Influenza 

RQ Bio announced the completion of an oversubscribed $115 million Series A financing, which will be used to fund the company's lead program, RQB01. Currently in IND-enabling studies, RQB01 is designed to deliver potent and broad protection against influenza through a differentiated dual mechanism of action targeting conserved epitopes resilient to seasonal variation. A combination of broad strain coverage, potent neutralizing activity and extended duration of action could establish a new pillar for influenza prophylaxis in vulnerable patient populations.

$85M: Series C for Prostate Cancer 

Flare Therapeutics announced the closing of an $85 million Series C financing. The company will concentrate resources on FX-111, a first-in-class, highly differentiated, potent and selective degrader targeting ARON, the transcriptionally active, hormone-bound androgen receptor for prostate cancer. By targeting ARON, FX-111 has the potential to overcome the key resistance mechanisms that limit conventional therapies directed at AROFF, particularly in high-risk AR-driven disease, with broad applicability across all stages of AR-driven disease.

$75M: Series D for Food Allergy and Graves’ Disease Treatment 

Lycia Therapeutics completed an oversubscribed $75 million Series D financing. Proceeds will be used to support the clinical development of Lycia’s programs, LCA-0061, a cataLYTAC degrader designed to deplete immunoglobulin E (IgE) for food allergy and other allergic diseases, and LCA-0321, a LYTAC degrader designed to selectively deplete thyroid-stimulating hormone receptor autoantibodies (TRAbs) for Graves’ disease, and to advance the company’s broader pipeline of cataLYTAC degraders toward the clinic.

$65M: Series B for Highly Specific AMPA and GABAA Receptor Modulators 

Draig Therapeutics closed an oversubscribed $65 million Series B financing. The proceeds will be used to support accelerated clinical development of Draig’s pipeline of highly specific AMPA and GABAA receptor modulators which are designed to enable safe, precise modulation of the major neurocircuits underlying neuropsychiatric disorders. The company’s lead program, DT-101, is an AMPA receptor potentiator (or positive allosteric modulator - PAM) designed to address the unmet needs in major depressive disorder (MDD). Phase 2 studies evaluating the effectiveness of DT-101 in patients with MDD are ongoing including a global study for DT-101 as a monotherapy and a U.S. study for DT-101 in an adjunct setting.

$52M: Financing for First-of-its-Kind NeuroAI Model 

Hemispheric emerged from stealth with $52 million in early-stage funding. Hemispheric is shedding light on the greatest remaining blind spot in medicine: the brain. Unlike the heart or lungs, which have had diagnostic tools for decades, the brain still has no objective and quantitative tests. Hemispheric’s platform is Descartes, the world’s first frontier NeuroAI model trained to decode non-invasive brain activity and translate it into actionable insights that clinicians and researchers can act on. Similar to how large language models capture the semantic meaning of text or vision models of images, Descartes translates the brain’s electrical language into a quantitative and objective understanding of brain function. These insights can detect disease earlier, distinguish between disorder subtypes, and guide treatment selection in clinical and life sciences settings.

$52M: Series B for Molecule Arts Platform 

MindRank announced the completion of a $52 million Series B financing. MindRank’s proprietary Molecule Arts Platform (MAP) integrates biology, chemistry, computation, experimental evidence and clinical learning into a unified R&D system designed to support the discovery and development of new medicines. The funds will support the continued advancement of MAP, as well as the progression of MindRank’s clinical and preclinical pipeline. The company’s lead program, MDR-001, is an oral small-molecule GLP-1 receptor agonist currently in phase 3 clinical development in China. The program entered phase 2 in 2025 and advanced from project initiation to phase 3 in approximately 4.5 years.

$47M: Seed Financing for Targeted Protein Degradation Portfolio 

TRIMTECH has raised an additional $14 million in seed funding, bringing the total for the round to $47 million. This new funding will support the company as it progresses its proprietary platforms and differentiated portfolio. Founded on pioneering academic research into the protein TRIM21, a novel E3-ligase, TRIMTECH has demonstrated its TRIMTAC and TRIMGLUE degraders can selectively degrade toxic protein aggregates and oligomers whilst leaving the functional monomeric forms of these proteins intact to support healthy cellular function. This creates much needed small molecule approaches for indications that affect very large populations.

$24M: Financing for Drug Discovery Platform for Neurological and Neuromuscular Diseases 

Transcripta Bio has raised $24 million since its Series A to advance IND-enabling studies across its portfolio and support clinical preparation in its Autism Spectrum Disorder (ASD) and Facioscapulohumeral Muscular Dystrophy (FSHD) programs. Transcripta Bio's closed-loop discovery engine is designed to use transcriptomic signature matching to identify drugs whose molecular signatures are the inverse of patient-derived disease signatures. The platform combines a Disease Signature Atlas built from actual patient single-cell RNA sequencing data, a Drug-Gene Atlas mapping the full transcriptomic response of FDA-approved and novel compounds, and Conductor AI, a machine learning system trained on more than one billion gene responses that begins at lead optimization rather than hit identification. Together, these three components systematically assess compounds, with the goal of de-risking drug development by addressing the root causes of clinical failure before candidates ever reach the clinic.

$12.6M: Series A for Once-Weekly GLP-1 Patch for Obesity 

Anodyne Nanotech closed a $12.6 million Series A financing. Proceeds from the financing will support the advancement of ANN-101, Anodyne's once-weekly GLP-1 patch for obesity, into a phase 1 clinical trial, while accelerating the development of Anodyne’s transdermal platform for the delivery of peptides, monoclonal antibodies, and nucleic acid therapeutics. The financing will also support manufacturing scale-up and expansion of multiple strategic partnering activities.

$9M: Series C for Chronic Prosthetic Join Infections Treatment 

Trellis Bioscience announced the closing of a $9 million Series C financing. This funding will support completion of the Company's phase 2 trial of calpurbatug (TRL1068), an investigational mAb treatment for chronic prosthetic joint infections (PJI). Extensive pre-clinical data and encouraging clinical results to date indicate that calpurbatug (TRL1068) effectively disassembles the biofilm that prevents antibiotics from eliminating the bacterial infection. Prosthetic joint infections are a debilitating, hard-to-treat and costly consequence of knee or hip joint replacements. There are no approved therapeutic treatments for this condition, and the current standard of care is a two-stage surgical revision with significantly diminished quality of life, high failure, and five-year mortality rates, as well as billions of dollars in additional health care expenditures.