The Venture Codex

Participated · Series B · Aug 2026

Expedition Therapeutics is developing next-generation oral small molecule therapies targeting inflammatory and respiratory diseases, with its lead program EXPD-101, a once-daily DPP1 inhibitor, currently in a global Phase 2 trial for COPD. The company reported that EXPD-101 was well tolerated in Phase 1 with no dose-limiting toxicities and showed dose-proportional pharmacokinetics supporting once-daily dosing. The first patient has been dosed in the Phase 2 COPD study, marking the company’s transition into mid-stage clinical development. Expedition combines translational expertise and clinical development experience with a platform for in-licensing global innovation. The recent $115 million Series B financing led by General Atlantic is intended to fund EXPD-101 through Phase 2, expand the company’s pipeline of therapies for inflammatory diseases, and further its research discovery efforts. Expedition is based in San Francisco and has announced board expansion tied to the financing.

Participated · Equity · Jul 2026

Mentari’s lead programs are MT-001, an anti-PACAP monoclonal antibody slated for first-in-human regulatory filings in mid-2026, and MT-002, an anti-CGRP x PACAP bispecific antibody expected to enter regulatory filings in the first quarter of 2027. The programs were discovered by Paragon Therapeutics and have shown strong in vitro potency and favorable pharmacokinetic profiles in preclinical studies. The therapies are designed to target complementary migraine pathways and address patients who experience limited benefit from currently approved anti-CGRP treatments. Mentari announced a $290 million private placement that it says will fund operations through 2028 and entered an all-stock merger agreement with InMed Pharmaceuticals to gain public market infrastructure. Following the transaction the combined company is expected to trade on the Nasdaq Capital Market and have a pro forma equity value of approximately $421.4 million, with pre-merger InMed shareholders holding about 1.51% of the combined company. The company and merger parties expect to accelerate development timelines and pursue regulatory filings according to the stated milestones.

Participated · Series A · Jun 2026

Serapha Bio launched to develop a one-and-done gene-editing treatment for Alpha-1 Antitrypsin Deficiency (AATD). The company emerged via a reverse merger with Boundless Bio and simultaneous financing that totaled $230 million. Founding investors RA Capital and RTW Investments arranged a $138 million Series A and an additional $92 million tied to the reverse merger. Boundless Bio, founded in 2019, had researched extrachromosomal DNA and faced difficulties with its lead program prior to the merger. Serapha also negotiated a licensing deal with a Chinese drug company as part of its launch and capital plan.

Led · Series D · May 2026

Full-Life is a clinical-stage radiotherapeutics company with a discovery platform called UniRDC™ that has produced multiple pipeline programs. Its lead and pipeline assets include potential best-in-class [225Ac]-FL-020 for prostate cancer and potential first-in-class [225Ac]-FL-261 for multiple solid tumor indications. The company plans to have three differentiated clinical-stage programs by the end of 2026 and to bring GMP-grade 225Ac manufacturing online at its Belgium facility to control isotope supply and production. Financially, Full-Life announced a US$150 million financing in 2026 (approximately US$110 million Series D equity and US$40 million debt) and has raised nearly US$350 million since founding in 2021. The company operates globally with locations referenced in Suzhou, China and Gembloux, Belgium.

Led · Series A · May 2026

Immunocan builds antibody discovery platforms using gene-editing across multiple animal species, including mouse, alpaca, and rabbit. The company is commercializing a fully human antibody rabbit platform and is developing MabAI, an AI-driven platform for antibody generation and characterization. Founded in 2020 and based in Shanghai, Immunocan says it collaborates with multiple domestic and international pharmaceutical companies, including several top global drugmakers. Financially, the company recently closed a RMB250 million Series A led by Vivo Capital with participation from Gold Mine Multi Family Office and follow-on backing from Kingray Capital and TigerYeah Capital. Planned uses of the new capital include advancing gene-edited animal platforms, building an AI-driven antibody drug screening platform, and expanding its team.