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Balyasny Asset Management

444 W Lake St, Chicago, IL, 60606, United States

Overview

Founded in 2001, Balyasny Asset Management (BAM) is a global asset management firm dedicated to delivering consistent, uncorrelated absolute returns in all market environments. BAM's disciplined investment approach focuses on true alpha generation by combining a deep fundamental research team with an active risk management culture. The firm has offices in the United States, London & Hong Kong with more than 500 employees representing greater than 45 countries.

Total investments
21
Lead investments
2
Investments · 12mo
11
Active investors
8
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Investment portfolio

  • Expedition Therapeutics

    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.

  • Serapha Bio

    Participated · Series A · Jun 2026

    Serapha Bio launched to develop a one-and-done gene-editing treatment for Alpha-1 Antitrypsin Deficiency (AATD). The company emerged via a reverse merger with Boundless Bio and simultaneous financing that totaled $230 million. Founding investors RA Capital and RTW Investments arranged a $138 million Series A and an additional $92 million tied to the reverse merger. Boundless Bio, founded in 2019, had researched extrachromosomal DNA and faced difficulties with its lead program prior to the merger. Serapha also negotiated a licensing deal with a Chinese drug company as part of its launch and capital plan.

  • Lycia Therapeutics

    Led · 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.

  • Oak Hill Bio

    Led · Series A · Jun 2026

    Oak Hill Bio focuses on acquiring and developing rare disease therapeutics that were deprioritized by larger pharmaceutical companies. Its lead program, rugonersen (OHB-724), is an antisense oligonucleotide designed to unsilence the paternal UBE3A allele and has demonstrated promising preclinical and Phase 1 data. Rugonersen was originally developed at Roche and is expected to enter a Phase 3 study in mid-2026. Several former members of the rugonersen program have joined Oak Hill Bio to lead its development. The company was formed in 2024 as a subsidiary of Oak Hill Bio Holdings and is based in Cambridge, Mass. Oak Hill Bio Holdings is also developing OHB-607, a replacement therapy currently in a Phase 2b study.

  • Coultreon Biopharma

    Participated · Series A · Apr 2026

    Coultreon Biopharma focuses on developing therapies that target clinically validated pathways in immunology and metabolic diseases, leveraging expertise in disease biology, drug discovery and translational science. Its pipeline centers on selectively modulating salt-inducible kinase (SIK) biology to address key inflammatory pathways. The company's lead program, COL-5671 (formerly O3R-5671), is a highly selective, oral once-daily SIK3 inhibitor currently in Phase 1 clinical studies. Coultreon intends to use the $125M Series A proceeds to support further clinical development of COL-5671. The company is led by CEO Pierre Raboisson and is based in Leuven, Belgium. No revenue, user, founding year or prior-round financial metrics were reported in the article.

Team