Dispatch Biotherapeutics Inc. is taking aim at solid tumors with a new viral vector/antigen technology backed by major industry names such as Arch Venture Partners and Bristol Myers Squibb Co. With offices in Philadelphia and San Francisco, Dispatch has raised $216 million since its founding in 2022. The firm’s platform delivers a cell-specific viral vector carrying a novel, universal antigen called Flare that tags solid, epithelial-derived tumor cells. Acting as a beacon, the Flare antigen directs the immune system to find and clear the cancer cells without harming healthy tissue.

Illimis Therapeutics Inc. raised ₩58 billion (US$42 million) in a series B financing round. The funds will support development of ILM-01, its lead bispecific fusion protein candidate, into preclinical development for Alzheimer’s disease by the second half of 2025, along with the company’s neuroimmunology portfolio.

Abvance Therapeutics Inc. secured an undisclosed amount of capital in a seed round led by Zubi Capital to support development of an insulin and glucagon combination product that the company has been in the process of developing for approximately 18 months. “We’re very excited that this round is able to get us positioned for a successful series A once we meet some internal confidential milestones,” Edward Raskin, CEO of Abvance, told BioWorld.

Newco Elkedonia SAS has raised €11 million (US$12.7 million) in a seed round, which will fund it to take a potentially first-in-class ELK-1 inhibitor into the clinic in the treatment of refractory depression. ELK-1 plays a pivotal role in neuroplasticity and in reward circuits in the brain, which when disrupted can lead to depression, addiction and post-traumatic stress disorder.

Turning the human body into a biofactory of precision protein therapeutics is the focus of newly launched Signify Bio, which emerged with an oversubscribed $15 million initial financing to advance three platforms with broad potential across therapeutic areas.

Proteinqure Inc. has closed an $11 million series A financing round to support the initiation of the company’s first clinical trial for PQ-203, a first-in-class peptide-drug conjugate for triple-negative breast cancer (TNBC). The funds will also be used to advance additional pipeline programs in neurology and nephrology.

Newco Avidicure NV arrived on the scene with a hefty $50 million in seed funding to advance novel antibody formats the company says will surpass the best qualities of first-generation antibodies, checkpoint inhibitors, T-cell engagers and antibody-drug conjugates.

Nuevocor Pte. Ltd. has closed a $45 million series B, enabling it to move lead gene therapy NVC-001 into the clinic in the treatment of an inherited form of cardiomyopathy.