BOSTON– Odyssey Therapeutics has closed a $213 million Series D financing round to support the development of its clinical and preclinical medicines for autoimmune and inflammatory diseases. The oversubscribed round included participation from existing backers as well as new investors such as Affinity Asset Advisors, Dimension Capital, Jeito Capital, Lightspeed Ventures, TPG Life Sciences Innovations, and Wedbush Healthcare Partners.
The Boston-based biopharmaceutical company said the proceeds will fund continued progress across its pipeline of therapies designed to precisely target the underlying drivers of autoimmune conditions.
“As we advance our programs towards important clinical milestones, we’re focused on translating our scientific efforts into meaningful benefit for patients,” said Gary D. Glick, Ph.D., founder and chief executive officer of Odyssey Therapeutics. “I’m thankful for the continued support from our investors and their enthusiasm for our mission of delivering truly transformative medicines.”
The financing also brings new board members to Odyssey. Shelley Chu, M.D., Ph.D., of Lightspeed Ventures; Paulina Hill, Ph.D., of Sanofi Ventures; Nan Li of Dimension Capital; Carolyn Ng, Ph.D., of TPG Life Sciences Innovations; and Ksenija Pavletic of Jeito Capital will join the company’s board of directors.
“This financing is a testament to the important medicines Odyssey is working to discover and deliver to patients,” said Jeff Leiden, M.D., Ph.D., chairman of Odyssey’s board. “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.”
Founded in 2021, Odyssey has built an integrated drug discovery and development platform, moving one internally discovered program through multiple clinical milestones, nominating several new development candidates, and forging collaborations with pharmaceutical and biotech partners.
