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November 11, 2026

Lilly-backed Oyster Therapeutics raises $60m for neurological degraders

Oyster Therapeutics, formerly known as Kesmalea Therapeutics, has closed a $60m Series A-2 financing round to advance targeted protein degraders for neurodegenerative diseases including Alzheimer’s.

Abnormal accumulation of tau defines tauopathies such as Alzheimer’s disease. Credit: Teeradej/Shutterstock.com.