Odyssey raises epic $101M to push programs off to clinical sea
05 Dec 2023
Executive Change
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Source: FierceBiotech
Odyssey Therapeutics's series C brings the biotech’s total raised to $487 million since launching in 2021.
Odyssey Therapeutics has raised a $101 million Series C to help get its next-gen precision immunomodulators and oncology medicines into the clinic.
The newest financing round was led by Ascenta Capital and brings the Boston-based biotech’s total raised to $487 million since launching in 2021. The new funds will be channeled to support the advancement of multiple programs into clinical studies, several of which could enter human trials within the next year, Odyssey CEO and founder Gary Glick, Ph.D., said in a Dec. 5 release. Glick has made his name setting up and running biotechs such as Lycera, IFM Therapeutics and Scorpion Therapeutics.
The Series C announcement follows the October appointment of Jeremy Sokolove, M.D., to serve as Odyssey’s chief medical officer. Sokolove joined the biotech from Big Pharma GSK, where he served as SVP and head of clinical pharmacology and experimental medicine.
Odyssey has built a drug discovery and development platform that combines artificial intelligence and machine learning for molecular design with a chemistry platform of covalent libraries targeting multiple amino acids, molecular glues and natural products. The biotech currently touts 10 declared immunology and oncology programs, all of which are in preclinical or discovery stages and are either small-molecule or protein therapeutics.
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