Expedition Therapeutics has raised an oversubscribed $115 million Series B financing as the biotechnology company advances its next-generation DPP1 inhibitor EXPD-101 into a global Phase 2 clinical trial for chronic obstructive pulmonary disease
General Atlantic led the financing, with participation from RA Capital and Vivo Capital as well as existing investors Sofinnova Investments, Novo Holdings, Forbion, KKR-controlled Dawn Biopharma, Adage Capital Management, Balyasny Asset Management, Logos Capital, Sanofi Ventures, BVF Partners, and Venrock Healthcare Capital Partners
Alongside the financing, Expedition announced that it has dosed the first patient in its Phase 2 COPD study evaluating EXPD-101
The drug is a next-generation DPP1 inhibitor designed to address neutrophilic inflammation, an underlying driver of COPD across the disease spectrum
Expedition said EXPD-101 demonstrated dose-proportional pharmacokinetics supporting once-daily oral dosing during Phase 1 studies and was well tolerated with no dose-limiting toxicities
The company is positioning the therapy as having first-and-best-in-class potential
Expedition also said it is the first company to conduct a global randomized Phase 2 trial of a DPP1 inhibitor specifically in COPD
The $115 million financing will support EXPD-101 through Phase 2 clinical development while also funding expansion of Expedition’s pipeline of therapies targeting inflammatory diseases and strengthening its research and discovery operations
COPD remains a major therapeutic challenge because existing treatments often focus on managing symptoms while the chronic inflammation contributing to disease progression can persist
Expedition’s approach seeks to intervene upstream by selectively targeting DPP1 and potentially reducing the neutrophil-driven inflammatory process associated with exacerbations and disease progression
General Atlantic Managing Director and Global Head of Life Sciences Brett Zbar will join Expedition’s Board of Directors as part of the financing
“Today marks a defining milestone for Expedition as we complete an oversubscribed Series B financing and dose the first patient in our global Phase 2 COPD clinical trial. This financing brings together a top-tier investor syndicate who share our conviction in the potential of our science and our mission to develop differentiated therapies for patients living with serious chronic diseases.”
Yi Larson, Founder and CEO of Expedition Therapeutics
“Expedition is taking a differentiated scientific approach to addressing significant unmet need in inflammatory and respiratory disease. The company’s transition into Phase 2 marks an important inflection point, and we are excited to support Yi and the Expedition team as they advance EXPD-101 through clinical development.”
Brett Zbar, M.D., Managing Director and Global Head of Life Sciences at General Atlantic
“COPD remains one of the leading causes of death worldwide, yet current therapies primarily manage symptoms and do not adequately address the chronic neutrophilic inflammation that drives disease progression and exacerbations.”
“By selectively targeting DPP1, this investigational therapy has the potential to interrupt a key upstream inflammatory pathway, offering a novel approach that could improve outcomes for patients. We are excited to begin evaluating its safety and clinical potential in this global Phase 2 study in patients with COPD.”
James Chalmers, M.D., Ph.D., Rhodes Chair of Experimental Therapeutics and Clinical Pharmacology at the University of Oxford
