Participated · Series B · Aug 2026

Vaderis is developing engasertib (VAD044), an investigational once-daily oral selective allosteric AKT1/2 inhibitor intended to treat hereditary hemorrhagic telangiectasia (HHT). The company has advanced engasertib into pivotal development following positive proof-of-concept and long-term extension data published in The New England Journal of Medicine. Vaderis has initiated HEROIC, a global Phase 3 randomized, double-blind, placebo-controlled study enrolling patients across North America, South America and Europe. The company intends to use proceeds from its $152 million Series B to support operations through regulatory submissions and potential U.S. approval. Vaderis is headquartered in Basel, Switzerland, with a U.S. subsidiary in Lincolnshire, Illinois. The company positions engasertib as a potential first approved therapy specifically developed for people living with HHT.

Participated · Equity · May 2026

Windward Bio was launched in January 2025 and is developing a portfolio of long-acting antibody therapeutics targeting validated immunological drivers. Its lead program, WIN378, is a next-generation, fully human anti-TSLP monoclonal antibody engineered for half-life extension and silenced effector function; WIN378 completed Phase 1, is dosed subcutaneously, and is being evaluated in the Phase 2/3 POLARIS asthma trial with initial data expected in the second half of 2026. A Phase 2 study of WIN378 in COPD is anticipated to start in Q2 2026 and the first Phase 3 study is expected to begin in Q4 2026. WIN027 is a long-acting bispecific (TSLPxIL-13) currently in Phase 1 with data expected by year-end 2026 and is planned for proof-of-concept studies across respiratory and dermatology indications beginning Q4 2026. The company has in-licensed global rights for its programs from partners including Kelun-Biotech/Harbour BioMed and Qyuns Therapeutics, and is building a discovery pipeline of long-acting bispecific antibodies. Windward has raised $365M since launch and intends to use the new financing to extend its runway and accelerate multiple clinical readouts and study starts.

Participated · Series A · Mar 2026

Alveus Therapeutics is advancing a pipeline of peptide-based treatments aimed at delivering durable weight loss and improved metabolic control. Its lead candidate, ALV-100, is a bifunctional molecule that combines glucose-dependent insulinotropic polypeptide receptor antagonism with glucagon-like peptide-1 receptor agonism, and is positioned to enter Phase 3 after characterization work funded by the new capital. A second program, ALV-200, is a highly selective amylin receptor 3 agonist, while the company is also progressing an oral amylin program expected to begin first-in-human studies within 18 months. Alveus focuses on therapies with sustained efficacy, improved tolerability, and reduced treatment burden compared with existing obesity drugs. The firm plans to run multiple development programs in parallel over the next 18–24 months to reach key value inflection points, including advancing ALV-100 to a Phase 3-ready state and moving early-stage assets into the clinic. Its recent $197 million Series A financing provides the capital to execute these objectives and expand its investor base.

Participated · Series A · Feb 2026

Third Arc Bio, launched in 2022, focuses on creating multispecific antibodies that form immune synapses to either activate or inhibit T cells with high precision. Its lead program, ARC101, is a bispecific T-cell engager targeting CLDN6 and is currently in Phase 1 dose-escalation studies for patients with advanced solid tumors. The company’s solid-tumor ARCStim platform and immunology-focused ARCTag (Tethered Agonist) platform underpin a broader pipeline aimed at both cancer and immune-mediated disorders. By localizing immune modulation to sites of disease, Third Arc seeks to improve both efficacy and safety over conventional systemic therapies. The management team includes executives with prior drug-development track records, and a16z General Partner Jorge Conde recently joined the board. Financially, Third Arc Bio has secured at least $217 million in Series A funding (an initial $165 million plus a $52 million extension) in addition to earlier seed capital. Proceeds are earmarked to accelerate its immunology portfolio and advance additional oncology programs into the clinic.

Led · Series A · Jan 2026

Caldera Therapeutics is focused on advancing CLD-423, a bispecific antibody that simultaneously targets the IL-23p19 and TL1A pathways, two clinically validated mechanisms in inflammatory bowel disease (IBD). The molecule is designed to deliver best-in-class efficacy, safety, pharmacokinetics, and developability by combining both targets into a single agent. Caldera has initiated a Phase 1 healthy-volunteer trial and intends to progress rapidly into patient studies to establish CLD-423’s therapeutic potential in IBD. Founded in 2025 and based in Cambridge, Massachusetts, the company acquired exclusive global development and commercialization rights to CLD-423 from Qyuns Therapeutics. Leadership is drawn from experienced IBD drug developers, including former Morphic Therapeutic CEO Praveen Tipirneni, MD. To date, Caldera has secured $112.5 million across Series A and Series A-1 financings, providing runway to complete early-stage clinical development of its lead program.