Jeito Capital announces significant participation in oversubscribed $213M Series D financing for Odyssey Therapeutics to advance clinical pipeline addressing autoimmune diseases with high unmet needs

Core Insights - Jeito Capital has made a significant investment in Odyssey Therapeutics, participating in an oversubscribed $213 million Series D financing round aimed at advancing treatments for autoimmune diseases with high unmet needs [1][2]. Company Overview - Odyssey Therapeutics, founded in 2021, is a clinical-stage biopharmaceutical company focused on transforming the standard of care for autoimmune and inflammatory diseases through targeted medicines [3][11]. - The company has developed comprehensive drug discovery and development capabilities in both the United States and Europe, achieving multiple clinical milestones in a short time frame [3][11]. Investment Details - Jeito Capital is the largest European contributor to the Series D financing, joining a group of new investors including Affinity Asset Advisors, Dimension Capital, Lightspeed Ventures, TPG Life Sciences Innovations, and Wedbush Healthcare Partners [2]. - The funds raised will be utilized to advance Odyssey's clinical and preclinical programs, particularly focusing on small-molecule therapies for complex autoimmune diseases [5][8]. Product Pipeline - Odyssey's lead compound, OD-07656, is an oral small-molecule RIPK2 scaffolding inhibitor targeting Inflammatory Bowel Disease (IBD), including ulcerative colitis and Crohn's disease, which affect millions globally [4]. - The second program involves an oral small molecule IRAK4 scaffolding inhibitor in preclinical development, aimed at treating various inflammatory diseases such as atopic dermatitis and osteoarthritis [5]. Strategic Importance - Jeito Capital's investment reflects its expertise in immunology and inflammation, building on previous successful investments in the sector, such as HI-BioTM, which was acquired by Biogen for up to $1.8 billion [6]. - The investment is expected to enhance Odyssey's capabilities in developing differentiated therapies that address significant treatment gaps in the autoimmune disease space [6][7].