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 B · Mar 2026

Pinnacle Medicines is developing a generation of oral peptide medicines designed to deliver biologic-level efficacy with oral dosing. The company combines physics-based molecular simulations, artificial intelligence–enabled design, and advanced peptide chemistry in a proprietary discovery platform. Pinnacle is advancing a pipeline of potential first- and best-in-class oral peptide programs targeting validated pathways in immunology and cardiometabolic diseases. The recent $89 million Series B will support progressing lead programs toward clinical proof of concept and expanding R&D capabilities. Pinnacle has raised $134 million to date following incubation by OrbiMed and other healthcare specialist investors. The company operates out of Shanghai and Doylestown, Pennsylvania.

Participated · Series B · Sep 2025

Avenzo Therapeutics is focused on creating potential best-in-class treatments for cancers with high unmet need. Its pipeline now includes four clinical-stage assets: AVZO-021, a selective CDK2 inhibitor in Phase 1 trials for advanced solid tumors and HR+/HER2- metastatic breast cancer; AVZO-023, a selective CDK4 inhibitor in Phase 1/2 trials for similar indications; AVZO-1418, an EGFR/HER3 bispecific antibody-drug conjugate in Phase 1/2; and AVZO-103, a Nectin4/TROP2 bispecific ADC slated to enter Phase 1/2 studies in 2025. The company has rapidly expanded its clinical portfolio from one to four programs within the past year. Avenzo has raised a total of $446 million to date, including a $386 million Series A/A-1 in November 2024 and the recently closed Series B round. These funds are earmarked to advance clinical development and broaden the company’s oncology pipeline. Headquartered in San Diego, Avenzo is led by co-founder, president, and CEO Athena Countouriotis, M.D.

Participated · Series C · May 2024

Zenas BioPharma is a clinical-stage biopharmaceutical company based in Waltham, MA, focused on inflammation and immunology-directed (I&I) therapies. Led by CEO Lonnie Moulder, the company operates clinical development capabilities globally and is advancing a portfolio of autoimmune therapeutics. Its lead candidate, obexelimab, is a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb to inhibit B cells, plasmablasts, and CD19-expressing plasma cells. Obexelimab is being evaluated across multiple programs, including a Phase 3 registration-directed trial in IgG4-Related Disease, two planned Phase 2 randomized controlled trials in Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing open-label Phase 2 in Warm Autoimmune Hemolytic Anemia. The company intends to use new funding to advance ongoing mid- to late-stage clinical development programs for obexelimab and its broader I&I portfolio. Zenas BioPharma is a biopharmaceutical company focused on advancing and commercializing immune-based therapies. Led by Lonnie Moulder and based in Waltham, MA, its lead candidate is obexelimab, an investigational phase III‑stage bifunctional antibody that inhibits CD19‑expressing B‑cell lineages without depleting the cells. Zenas acquired exclusive worldwide rights to obexelimab from Xencor. In early‑stage clinical studies obexelimab demonstrated inhibition of B‑cell function and produced an encouraging treatment effect in patients with multiple autoimmune diseases. The company plans to use new funding to initiate a global Phase 3 registration trial in patients with IgG4‑related disease in late 2022 and to progress other global autoimmune disease programs into clinical development in 2023. IgG4‑RD is described in the article as a chronic, serious fibroinflammatory disease that typically affects multiple organs.

Led · Series A · Dec 2023

Adcentrx Therapeutics is a biotechnology company developing Antibody-Drug Conjugate (ADC) therapeutics for cancer and other life‑threatening diseases. The company combines biologic targeting with small‑molecule payloads using its proprietary i‑Conjugation™ technology. Its lead ADC candidate, ADRX-0706, targets Nectin-4 and uses a novel tubulin inhibitor payload, AP052, yielding a drug‑antibody ratio of eight (DAR 8). ADRX-0706 showed favorable pharmacokinetic and safety profiles and significant efficacy in preclinical models and is currently being evaluated in a Phase 1a/b clinical trial. Adcentrx intends to use the newly raised funds to continue advancing its proprietary ADC pipeline in the clinic. The company is led by founder and CEO Hui Li and operates in San Diego and Shanghai. Adcentrx Therapeutics is based in San Diego, CA and Shanghai, China and develops antibody-drug conjugates (ADCs) that combine the targeting precision of biologics with the disease‑fighting power of small‑molecule payloads. The company’s lead candidate, ADRX-0706, is anticipated to enter a first-in-human Phase 1 clinical trial in the second half of 2023. Adcentrx is advancing additional ADC candidates in parallel with the goal of advancing at least one into the clinic each year. The company intends to use proceeds from the financing to advance its proprietary ADC therapeutic pipeline into the clinic. Adcentrx is led by founder and CEO Hui Li, Ph.D.