The Venture Codex

Participated · Series B · Aug 2026

Khartis Therapeutics is developing a pipeline of oral small molecule medicines, with a lead program that is an oral selective IGF-1R inhibitor designed for thyroid eye disease. The company is also advancing additional oral small-molecule programs against clinically validated immunology pathways. Khartis was founded in 2024 by Robert Hoffman (CEO and Head of Drug Discovery), Craig Murphy (CSO), and Chris LeMasters (Executive Chairman), and was incubated within Foresite Labs. It is headquartered in San Diego and its team includes many members who previously worked together at XinThera. Financially, Khartis has raised a total of $95 million following its $50 million Series B. The company intends to use the new financing to accelerate advancement of its lead program and continue discovery of differentiated small molecule medicines.

Participated · Series B · Jul 2026

Crystalys is advancing dotinurad, a next-generation, once-daily oral URAT1 inhibitor positioned as a second-line therapy to reduce uric acid, gout flares and tophi. Dotinurad was invented by Fuji Yakuhin and has regulatory approvals in Japan, China, the Philippines, Taiwan and Thailand, with supporting clinical data from those markets. The company is conducting the JEWEL clinical research program, which includes the Phase 3 RUBY and TOPAZ trials and the Phase 2 AMETHYST study to evaluate safety and efficacy across a broad spectrum of gout patients. Crystalys aims to position dotinurad as a best-in-class option for safety and efficacy and is preparing for global commercialization. The company is headquartered in San Diego and was co-founded by Catalys Pacific and Novo Holdings. With the announced $130 million Series B, Crystalys has increased its financial runway to support late-stage development and commercial readiness.

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.

Participated · 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 B · Apr 2026

Sidewinder Therapeutics is focused on engineering next-generation bispecific ADCs that target tumor-specific receptor co-complexes to enhance tumor specificity and internalization. The company’s pipeline targets indications including squamous cell carcinomas of the lung and head and neck and gastrointestinal cancers such as colorectal cancer. Sidewinder was founded in 2023 and is headquartered in San Diego. It has partnered with Lonza to apply Synaffix’s site-specific linker‑payload platform across multiple programs. The company plans to advance its lead program into clinical development in 2027. Financially, Sidewinder has raised a total of $162 million following the $137 million Series B.