Participated · Series B · Aug 2026

Expedition Therapeutics is developing next-generation oral small molecule therapies targeting inflammatory and respiratory diseases, with its lead program EXPD-101, a once-daily DPP1 inhibitor, currently in a global Phase 2 trial for COPD. The company reported that EXPD-101 was well tolerated in Phase 1 with no dose-limiting toxicities and showed dose-proportional pharmacokinetics supporting once-daily dosing. The first patient has been dosed in the Phase 2 COPD study, marking the company’s transition into mid-stage clinical development. Expedition combines translational expertise and clinical development experience with a platform for in-licensing global innovation. The recent $115 million Series B financing led by General Atlantic is intended to fund EXPD-101 through Phase 2, expand the company’s pipeline of therapies for inflammatory diseases, and further its research discovery efforts. Expedition is based in San Francisco and has announced board expansion tied to the financing.

Participated · Series B · Jul 2026

Claris Biotherapeutics, spun out of the Harvard lab of corneal disease expert Reza Dana, is developing CSB-001 (oremepermin alfa), an eye drop candidate now targeted at limbal stem cell deficiency (LSCD) after an initial neurotrophic keratitis study failed but showed benefit in LSCD patients. The company plans a phase 3 pivotal trial of CSB-001 beginning in the first half of 2027 with a data readout expected within roughly two years. Claris is running a non-interventional natural history study to better understand LSCD and to create a pool of subjects for its phase 3 trial. The biotech has grown from an initial team of five to more than 25 employees and is seeking to establish a physical headquarters. CEO Stephen Brady, who took over June 15, said the company intends to educate providers on diagnosing LSCD and expects to explore additional indications or pipeline expansion if independent and capitalized. Brady also anticipates taking the company public before phase 3 readout, either via IPO or a reverse merger.

Participated · Series D · Jun 2026

Lycia Therapeutics is a California-based biotech company whose lead programs target disease-driving proteins that circulate in the blood. The company employs a platform the investor describes as able to reach proteins outside the cell, addressing targets conventional drugs cannot. Lycia has progressed through multiple financing rounds, with RTW Biotech participating in its Series B (September 2021), Series C (2024), and the current Series D. The recent Series D financing totals $75M, from which RTW invested $1.4M. Investors and coverage in the reporting frame the use of proceeds around advancing the pipeline toward clinical proof of concept. Financial metrics such as revenue or user counts were not disclosed in the article.

Participated · Series B · Apr 2026

Ray Therapeutics is a Berkeley, California–based clinical-stage biopharmaceutical company developing optogenetic gene therapies to restore vision in patients with severe retinal degenerations. Its lead program, RTx-015, is an optogenetic gene therapy delivered as a single intravitreal injection and is being evaluated in patients with retinitis pigmentosa. The company’s second clinical-stage program, RTx-021, targets retinal bipolar cells and is designed for macular diseases such as Stargardt disease and geographic atrophy (GA AMD). RayTx’s approach delivers a bioengineered, highly light-sensitive protein to targeted retinal cells with the aim of improving visual function regardless of underlying genetic mutation. The company recently received Regenerative Medicine Advanced Therapy (RMAT) designation from the U.S. FDA for RTx-015, and it plans to use recent financing to advance late-stage clinical development and commercial readiness.

Participated · Series D · Jan 2026

Founded in 2019 and led by CEO Sandy Mou, Corxel Pharmaceuticals (formerly JiXing Pharmaceuticals) focuses on discovering, developing, and commercializing therapies for cardiometabolic conditions. Its lead candidate, CX11, is in an ongoing U.S. Phase 2 trial for obesity and overweight patients and is scheduled for a global Phase 2 study targeting Type 2 Diabetes Mellitus, with Phase 3 preparations already underway. Beyond CX11, the company’s pipeline spans assets for hypertension, acute ischemic stroke, and ophthalmologic indications such as dry eye and presbyopia. Proceeds from its recent financing will also support advancement of these additional programs and expand global operational capabilities needed for multiregional clinical trials. The company operates from offices in Berkeley Heights, New Jersey, and China. As a clinical-stage firm, Corxel has not disclosed commercial revenues, but the latest capital infusion provides significant runway to progress multiple candidates through late-stage development.