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.

Led · Series D · Jul 2026

FORE Biotherapeutics is a registration-stage targeted oncology company whose lead asset is plixorafenib (FORE8394; formerly PLX8394), a BRAF inhibitor with a mechanism described as both a dimer and paradox breaker. The company is advancing plixorafenib in the global Phase 2 FORTE Master Protocol, a registration-intended basket study that includes monotherapy baskets for recurrent or progressive BRAF V600E primary CNS tumors, rare BRAF V600 mutated solid tumors, and advanced solid tumors with BRAF fusions. Fore reported that target enrollment of approximately 50 patients has been reached in the BRAF V600E CNS tumor basket and expects topline results from that basket around the end of 2026; the company anticipates a potential regulatory submission if the primary analysis is positive. Plixorafenib received Breakthrough Therapy Designation from the FDA in April 2026, and prior Phase 1/2 data showed a 67% ORR in MAPK inhibitor–naïve BRAF V600 primary recurrent CNS tumors (n=9) and a 42% response rate with a median duration of response of 17.8 months in V600-altered, MAPK inhibitor–naïve patients. The company reported a favorable safety profile for plixorafenib, including a drug-related discontinuation rate of less than 2%, and has implemented protocol changes in FORTE such as allowing dosing with food and lowering the minimum enrollment age to 8 years based on IDMC clearance.

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

Immutrin is developing a novel antibody intended to selectively bind amyloid fibrils and trigger immune-mediated depletion of established amyloid deposits. Its lead program is focused on ATTR cardiomyopathy, with the company positioning the asset as potentially best-in-class for amyloid removal and noting possible applicability to other amyloidosis types. The company was co-founded by Cambridge Innovation Capital and academics Professor Sir Mark Pepys, Sir Gregory Winter and Professor Daniel Christ and is headquartered in Cambridge, UK. Immutrin recently raised £65 million ($87 million) in a Series A to fund its lead asset through clinical proof of concept. Management includes CEO Mihriban Tuna and new CFO/COO Tolga Hassan, and the board will include representatives from Frazier, F-Prime, Qiming and Cambridge Innovation Capital. The company emphasizes its scientific foundation based on decades of work on amyloid biology and antibody engineering.

Participated · Series A · Mar 2026

Poplar Therapeutics, incorporated in 2024 and based in Cambridge, Massachusetts, is focused on creating a new class of anti-IgE therapies that aim to rapidly drive IgE levels toward zero. Its lead candidate, PHB-050, employs a triple-action mechanism to block IgE binding to mast cells, quickly clear circulating IgE, and inhibit further IgE production. The drug is now in a Phase 1 clinical trial targeting food allergy, with data expected to demonstrate safety, pharmacokinetics, and speed of IgE reduction. Management plans to use forthcoming data to guide Phase 2 studies across multiple atopic conditions, including asthma and atopic dermatitis. Poplar estimates that more than seven million patients with atopic diseases have high IgE levels, half of whom with food allergy are poorly served by existing therapies. The company’s total Series A financing now stands at $95 million, providing resources to advance PHB-050 through at least Phase 2 trials.