Odyssey Therapeutics, a clinical-stage biopharmaceutical company, has closed an oversubscribed $213 million Series D financing to accelerate the development of its portfolio of medicines targeting autoimmune and inflammatory diseases. The round included participation from all existing investors and welcomed new backers, including Affinity Asset Advisors, Dimension Capital, Jeito Capital, Lightspeed Ventures, TPG Life Sciences Innovations, and Wedbush Healthcare Partners.
The funding will be used to advance both clinical and preclinical programs designed to address the underlying drivers of complex autoimmune conditions precisely. Since its founding in 2021, Odyssey has built a fully integrated drug discovery and development platform, moving its first internally discovered program through multiple clinical milestones in just over two years. The company has also nominated several additional development candidates and established collaborations with major pharmaceutical and biotech partners.
As part of the financing, several new investor representatives will join Odyssey’s board of directors, bringing additional expertise in life sciences investment and company building. The company’s approach focuses on developing therapies capable of inducing deep and durable remission in patients, leveraging a combination of scientific expertise, advanced discovery tools, and a targeted understanding of disease pathology.
Odyssey’s pipeline includes both small molecules and protein therapeutics aimed at a range of autoimmune and inflammatory diseases with significant unmet need. The Series D proceeds will support ongoing clinical trials, further preclinical research, and the expansion of its discovery capabilities, positioning the company to advance multiple programs toward key milestones in the coming years.
New board members: In addition to the fundraise, Shelley Chu, M.D., Ph.D., Partner at Lightspeed Ventures, Paulina Hill, Ph.D., Partner at Sanofi Ventures, Nan Li, Founder and Managing Partner at Dimension Capital, Carolyn Ng, Ph.D., Business Unit Partner with TPG Life Sciences Innovations, and Ksenija Pavletic, Partner and CCO at Jeito Capital, will join Odyssey’s Board of Directors.
KEY QUOTES:
“As we advance our programs 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.”
Gary D. Glick, Ph.D., Founder and CEO of Odyssey Therapeutics
“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 programs through clinical development.”
Jeff Leiden, M.D., Ph.D., Chairman of the Odyssey Board
