Led · Equity · Aug 2026

Boulevard Bio was launched from Deerfield's internal R&D incubator with a lead bispecific antibody, BLVD101, that targets BAFF and APRIL for IgA nephropathy (IgAN). Interim Phase I single-ascending dose data in healthy volunteers showed strong IgA suppression and a pharmacokinetic/pharmacodynamic profile the company said supports once-every-12-weeks dosing. A second program, BLVD201, is a trispecific CD19/BCMA/CD3 T cell engager licensed from METiS TechBio and is in IND-enabling studies; the license included $20 million upfront and up to $1.6 billion in milestones. Boulevard also nominated a third candidate, BLVD301, directed at a novel B cell-target combination in June 2026. The company will use its launch financing to advance the Phase I program for BLVD101, complete IND-enabling work for BLVD201, and progress BLVD301 toward development.

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.

Led · Series B · Apr 2026

Neomorph develops molecular glue degraders and has built a proprietary platform to engineer neomorphic protein surfaces that enable targeted protein degradation of disease drivers previously considered undruggable. Its lead investigational candidate, NEO‑811, is designed to induce degradation of ARNT (HIF‑1β) and is being evaluated in a first‑in‑human Phase 1/2 open‑label monotherapy trial in patients with locally advanced or metastatic non‑resectable clear cell renal cell carcinoma. The company says its platform spans multiple novel degrons across an expansive portfolio of E3 ubiquitin ligases, creating what it calls the world’s largest proprietary molecular glue target space. Neomorph has partnerships with pharmaceutical companies including Novo Nordisk, Biogen, and AbbVie across cardiometabolic disease, rare disease, neurology, oncology, and immunology. The company plans to use the $100 million Series B to advance NEO‑811 through clinical development and to progress its broader pipeline across multiple therapeutic areas. Neomorph was founded in 2020 and is headquartered in San Diego.

Participated · Series D · Feb 2026

SHINE Technologies develops a fusion-based approach to produce medical isotopes such as molybdenum-99, and also plans capability for iodine-131 and xenon-133. The company uses a liquid uranium target that is recycled, which it says reduces radioactive waste volume and operating costs compared with reactor-based production. SHINE has collaborated with U.S. national laboratories for more than 15 years and received technical support and funding from the DOE NNSA. Its commercial Chrysalis facility in Janesville, Wisconsin, is reported to be 75% complete and is positioned to be the world’s largest medical isotope production facility when operational. The recently announced conditional loan commitment from the DOE Office of Energy Dominance Financing is intended to help finish the project and enable market entry. Company leadership and government officials emphasize the project's role in onshoring Mo-99 supply, improving supply-chain reliability, and advancing nonproliferation objectives.

Led · Series A · Dec 2025

Excelsior Sciences is building a new form of machine-executable chemistry in which modular, synthesis-friendly “smart bloccs” enable rapid iterative carbon-carbon bond construction that AI can readily design, make and test in closed-loop workflows. This approach aims to shorten drug-discovery timelines, seamlessly bridge discovery and scale-up chemistry, and support the reshoring of pharmaceutical manufacturing to the United States. The company’s platform produces purified compounds fast enough to feed data-hungry algorithms, promising breakthroughs not only in therapeutics but also in materials science and other sectors. Spun out of Deerfield Management and operating from custom laboratory space at Cure in New York City, Excelsior couples proven automated synthesis expertise with advanced AI to generate rich datasets and novel molecular insights. Future plans include expanding its internal small-molecule pipeline and forging partnerships across multiple industries to commercialize the technology. To fund these initiatives the company secured $95 million in new capital, consisting of a $70 million Series A equity round and a $25 million grant.