Cambridge, Mass.— Merida Biosciences, a new biotechnology company focused on precision treatments for autoimmune and allergic diseases, officially launched today with $121 million in Series A funding. The round was co-led by Bain Capital Life Sciences, BVF Partners, and Third Rock Ventures, with participation from GV and the Perceptive Xontogeny Venture Funds.
Merida is developing a new class of therapeutics designed to selectively eliminate disease-causing antibodies, aiming to avoid the broad immunosuppression associated with current treatments. Its most advanced program targets Graves’ disease, a condition caused by autoantibodies that overstimulate the thyroid gland.
“Our mission is to change the treatment landscape for autoimmune and allergic diseases by targeting their root causes with precision,” said Adam Townsend, Merida’s Chief Executive Officer. “We believe our approach offers a degree of selectivity and durability not seen in existing therapies.”
The company’s platform centers on engineered protein therapeutics that identify and neutralize pathogenic antibodies while sparing healthy immune cells. In addition to neutralizing these antibodies, the platform also aims to eliminate the B cells responsible for producing them, potentially providing long-lasting relief.
“Our therapeutics mimic the characteristics of antibodies but go further by triggering the body’s natural systems to clear disease-causing immune complexes,” explained Dario Gutierrez, Ph.D., Merida’s co-founder and Chief Scientific Officer. “This allows us to home in on the true drivers of disease without the collateral damage seen in many current therapies.”
Beyond Graves’ disease, Merida is advancing programs in allergy and primary membranous nephropathy, a chronic autoimmune condition affecting the kidneys.
The company’s leadership team brings a depth of experience in biopharma. Townsend, appointed CEO in March 2025, was formerly COO at Apellis Pharmaceuticals. Other key leaders include COO Dodzie Sogah, Ph.D.; CMO Matthew Leoni, M.D., MBA; Interim Chief People Officer Tara Reagan, MBA; and SVP of Process and Product Development Michael Naill, Ph.D.
Merida was seeded by Third Rock Ventures in 2022 while Dr. Gutierrez served as Entrepreneur-in-Residence. The company’s board includes notable industry veterans, such as:
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Reid Huber, Ph.D., Partner, Third Rock Ventures (Board Chair)
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Andrew Hack, M.D., Ph.D., Partner, Bain Capital Life Sciences
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Abbie Celniker, Ph.D., Partner, Third Rock Ventures
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Rich Levy, M.D., former Chief Drug Development Officer at Incyte
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John Maraganore, Ph.D., founding CEO of Alnylam Pharmaceuticals
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Amol Punjabi, Director, BVF Partners
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Adam Townsend, CEO, Merida Biosciences
Investors and company executives alike expressed confidence in Merida’s potential to transform treatment paradigms for patients with serious and underserved immune disorders.
“Merida is uniquely positioned to bring forward a new generation of medicines with greater precision and long-term benefit,” said Reid Huber, Ph.D., of Third Rock Ventures. “This is a long-overdue shift in how we treat antibody-driven diseases.”
