CAMBRIDGE, Mass. — Caldera Therapeutics said it has launched with $112.5 million in total financing and has dosed the first subjects in a Phase 1 clinical trial of its lead drug candidate, CLD-423, a first-in-class bispecific antibody for inflammatory bowel disease.
The clinical-stage biotechnology company said it initially raised a $75 million Series A round in April 2025 from founding investors Atlas Venture, LAV, and venBio. That financing was recently expanded with a $37.5 million Series A-1 round led by Omega Funds, with participation from new investors Wellington Management and Janus Henderson Investors.
Proceeds from the financing will be used to advance the clinical development of CLD-423, which targets the clinically validated IL-23p19 and TL1A inflammatory pathways. The company said the first subjects have now been dosed in a Phase 1 healthy volunteer study evaluating the bispecific antibody.
“By elegantly combining two powerful autoimmune targets in a single molecule, CLD-423 represents the next frontier in IBD treatment,” said Praveen Tipirneni, M.D., chief executive officer of Caldera and former CEO of Morphic Therapeutic. “Bispecifics have the potential to redefine the efficacy bar in IBD, and CLD-423 is rationally designed to achieve a best-in-disease profile with optimized efficacy, safety, pharmacokinetics and developability. CLD-423 is advancing through Phase 1 with the goal of enabling clinical evaluation in patients with IBD.”
Omega Funds said it sees the program as having the potential to reshape treatment options for patients with inflammatory bowel disease.
“We see CLD-423 as a program that has the potential to change the IBD treatment paradigm,” said Michelle Doig, partner at Omega Funds. “Caldera’s scientific strategy, execution focus and leadership team truly distinguish the company and position CLD-423 as a new standard of care. We are excited to lead this financing and partner with Praveen and a top-tier syndicate to unlock meaningful clinical and commercial value.”
Caldera was founded in 2025 to develop new biologic therapies for inflammatory bowel disease and related conditions. The company said it has assembled a leadership team with extensive experience in IBD drug discovery and development, as well as a track record of building biotechnology companies through to successful exits.
The company in-licensed exclusive global development and commercialization rights to CLD-423 from Qyuns Therapeutics Co., Ltd. after evaluating the evolving bispecific antibody landscape in inflammatory bowel disease.
