The use of psychedelics is seeing impressive results in treating psychiatric disorders like treatment-resistant depression and post-traumatic stress disorder, and Mindbio Therapeutics Ltd. is expanding the field to include microdoses of lysergic acid diethylamide (LSD) to treat depression and premenstrual syndrome.

Cancer vaccines specialist Infinitopes Precision Immunomics Ltd. announced the closing of a £12.8 million (US$16.1 million) seed round and outlined plans to start a phase I/IIa study of the lead program in the third quarter of this year.

“A white space opportunity.” That’s how Enlaza Therapeutics Inc. co-founder and CEO Sergio Duron described to BioWorld the company’s efforts to develop the first covalent biologics, an endeavor that has gained the backing of an impressive group of investors in a recently closed $100 million series A round.

In one of the biggest startups ever, Xaira Therapeutics has launched with more than $1 billion from investors. The financing, according to BioWorld records, is roughly equivalent to Roivant Sciences Inc.’s $1.1 billion raise in August 2017 and Galderma Inc.’s $1 billion private placement in June 2023.

Corner Therapeutics Inc. raised $54 million in a series A financing to create vaccines to protect against cancer and infectious diseases by helping the immune system engineer T cells. The company’s core interest is in advancements in immunotherapy through direct manipulation of T cells, which are the “keys to the kingdom for any cancer therapy,” Nick Seaver, Corner’s chief business officer, told BioWorld.

Newco Outrun Therapeutics Ltd. has raised $10 million in a seed round to develop small-molecule E3 ubiquitin ligase inhibitors that prevent programmed protein degradation. The lead program targeting an E3 ligase that tags a tumor suppressor protein for destruction will now advance to preclinical development.

Led by executives who helmed The Medicines Co., Metsera Inc. has launched with $290 million in financing to develop drugs for treating weight loss, obesity-related conditions and metabolic diseases. The company is stepping into high profile and lucrative glucagon-like peptide-1 territory forged by Eli Lilly and Co.’s Zepbound (tirzepatide) for chronic weight management and Novo Nordisk A/S’s Wegovy (semaglutide), also approved for long-term weight management.

On the heels of a $4.6 million series A round in December 2023, cell therapy company Rxcell Inc. is planning to raise another $15 million in 2024 to take its iPSC-derived photoreceptors to the clinic for retinitis pigmentosa and other degenerative diseases of the retina.

With a $128 million series A financing, Diagonal Therapeutics Inc. launched to develop its lead program using agonist antibodies for treating, among other indications, the rare disease hereditary hemorrhagic telangiectasia. The antibodies are designed to activate a receptor complex in the TGF-β superfamily genetically impaired in patients with the bleeding disorder. Diagonal also is developing a treatment for the orphan disease pulmonary arterial hypertension.

Addex Therapeutics has offloaded its portfolio of preclinical allosteric modulation drugs into Neurosterix, a new company that arrives on the scene with a $63 million series A round.