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news.Odyssey Therapeutics has closed a $213m Series D financing round, aimed at advancing its portfolio of clinical and preclinical medicines for autoimmune and inflammatory diseases.
The newly acquired funds will support the development of medicines designed to precisely target disease pathology in complex autoimmune conditions. Credit: Shutter Speed on Unsplash.
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The Boston-based company secured backing from existing investors and new investors, including Affinity Asset Advisors, Dimension Capital, Jeito Capital, Lightspeed Ventures, TPG Life Sciences Innovations, and Wedbush Healthcare Partners.
The newly acquired funds will support the advancement of the company’s Odyssey’s portfolio of clinical and preclinical medicines to precisely target disease pathology in complex autoimmune conditions.
Odyssey Therapeutics founder and CEO Gary Glick said: “As we advance our programmes towards important clinical milestones, we’re focused on translating our scientific efforts into meaningful benefit for patients.
“I’m thankful for the continued support from our investors and their enthusiasm for our mission of delivering truly transformative medicines to patients suffering from inflammatory diseases.”
The financing round also brings new appointments to the board. These include Carolyn Ng, business unit partner at TPG Life Sciences Innovations; Dimension Capital founder and managing partner Nan Li; Jeito Capital partner and CCO Ksenija Pavletic; Lightspeed Ventures partner Shelley Chu; and Sanofi Ventures partner Paulina Hill.
Odyssey board chairman Jeff Leiden said: “This financing is a testament to the important medicines Odyssey is working to discover and deliver to patients.
“I am delighted to welcome our new investors and work alongside our new board members as Odyssey continues to advance its programmes through clinical development.”
Since its founding in 2021, Odyssey has developed its drug discovery and development capabilities.
The company has advanced internally discovered programmes through multiple clinical milestones, nominated several development candidates, and formed collaborations with pharmaceutical companies and biotech innovators.
