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A COPD drug from China draws $115M in venture funding

Expedition Therapeutics, a biotechnology company advancing a lung disease drug licensed from China’s Fosun Pharma, said Wednesday it raised $115 million in a Series B round that would carry its experimental medicine through mid-stage testing. The biotech launc

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Expedition Therapeutics, a biotechnology company advancing a lung disease drug licensed from China’s Fosun Pharma, said Wednesday it raised $115 million in a Series B round that would carry its experimental medicine through mid-stage testing. The biotech launched in 2024 with a plan to in-license drugs from Chinese pharmaceutical companies and advance them through clinical testing. That strategy made it part of a growing trend in biotech startup creation, as investors are increasingly forming new companies purpose-built to capitalize on a trove of China-originated drugs . Expedition banked $165 million in a Series A round last year and cut its first deal with Fosun . That partnership handed the company rights across most of the globe to “EXPD-101” which, under the name XH-S004, Fosun had been developing for chronic obstructive pulmonary disease or COPD. EXPD-101 targets an enzyme known as DPP1, which activates certain parts of neutrophils, a type of white blood cell. Neutrophils are crucial in protecting against infections, but can drive lung inflammation when overstimulated. Stifling their activity with a drug could therefore hold promise for treating multiple respiratory conditions. That potential has attracted the attention of multiple drugmakers in recent years. Insmed licensed a DPP1-targeting drug from AstraZeneca about a decade ago and has brought it to market as Brinsupri, a bronchiectasis treatment that’s expected to become a blockbuster . Others from Boehringer Ingelheim and partners Chiesi and Haisco Pharmaceutical are in clinical testing.

Expedition Therapeutics is led by Yi Larson, a former executive at Turning Point Therapeutics and LianBio. Permission granted by Expedition Therapeutics

Yi Larson, Expedition’s CEO, said that the drug class could have broader potential by addressing COPD, one of the world’s most common inflammatory lung diseases. Multiple therapies — among them Regeneron Pharmaceuticals and Sanofi’s Dupixent , GSK’s Nucala and Verona Pharma’s Ohtuvayre — have been approved for COPD patients since 2024. Larson believes EXPD-101, a once-daily pill, could be a more convenient alternative to injectable therapies or inhalers. And unlike certain biologics, the drug could help the “whole population” of people with COPD, because it acts on a specific kind of “neutrophilic” inflammation those drugs don’t, she said. “You take this pill once a day, and it can target that underlying inflammation that all the COPD patients have,” she said. “This felt like it could become a backbone of care for patients.” Expedition recently began recruiting volunteers for what it claims is the first global Phase 2 trial of a DPP1 inhibitor in COPD. Initial data could come in 2028, according to a federal database . Larson, a Goldman Sachs investment banker-turned-biotech executive, previously held positions or board seats at Turning Point Therapeutics and RayzeBio , both of which were acquired by Bristol Myers Squibb. General Atlantic led the Series B round and was joined by a dozen new and existing investors such as Vivo Capital, RA Capital Management, Forbion, Sofinnova Investments, Novo Holdings and Venrock. Brett Zbar, a managing director at General Atlantic, will join Expedition’s board of directors. General Atlantic has backed a string of high-profile private and public biotechs in the last five years, among them Akero Therapeutics, which sold to Novo Nordisk in 2025; Seaport Therapeutics, which went public earlier this year ; and Verdiva Bio , another company built around in-licensed assets from China. Zbar said that General Atlantic has “benefited from the good fortune of having a team and a real presence in China,” where the investment firm has found “first or best-in-class assets.”

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01China: Threat or opportunity?

One of the biggest biotech news stories of recent years is China’s continued rise as a biotech and life sciences powerhouse. China conducts a quarter of all clinical trials and drug development and has almost 1,500 new drugs in development.¹ Many China-based biotechs have benefitted from government funds, out-licencing deals with large pharmas and venture capital funding. However, policymakers in the US and EU have concerns about the possible threat to their region’s biosecurity and competitiveness as centres for health and life science research. Given China’s increased importance, ICON Biotech conducted the same biotech sector survey with 100 China-based biotech leaders. The results show that Chinese biotechs face many of the same challenges as biotechs located elsewhere. They share the same funding challenges and burdens associated with increasingly complex clinical trials and regulations.

Source: www.biopharmadive.com ↗
02How Real Brain Cells Respond to Artificial Neurons

Holla, who completed her PhD in Raman’s lab and is now a postdoctoral researcher studying memory at New York University in New York City, designed and ran experiments in mouse cerebellar slices. She positioned a stimulation electrode on the parallel fibers, the main pathway that excites Purkinje cells, and a recording electrode on the Purkinje cells themselves. She played recordings of the artificial neurons’ waveforms into the tissue through a standard stimulation electrode at four different speeds: 7, 60, 218, and 740 spikes per second. At every speed below 200 spikes per second, the Purkinje cells fired in response. The strongest results came at 60 spikes per second, where each artificial spike lasted 0.7 milliseconds, which is fast enough to trigger the cell but brief enough to avoid flooding the tissue with unnecessary current. Above 200 spikes per second, the cells stopped responding. They simply cannot fire that fast. The team included the 740-spikes-per-second condition on purpose to directly challenge the many engineering groups building artificial neurons that operate at those speeds. “We had to show them [740 spikes] wasn’t sufficient,” Brown said. “You can’t work that fast.” “You can see the living neurons respond to our artificial neuron,” Hersam said. But he is careful to note a caveat: The printed artificial neurons were not touching the brain tissue. The waveforms they generated were recorded and then played back into the slice through standard laboratory stimulation equipment. The next step is to prove the printed device itself can interface with living tissue.

Source: www.medscape.com ↗
03What Comes Next

With data expected in the fourth quarter of 2026, we are prioritizing histology alongside patient-reported outcomes using the Celiac Disease Symptom Diary, one of only two instruments developed in line with U.S. Food and Drug Administration (FDA) guidance, to capture changes in symptoms such as abdominal pain and nausea. Ultimately, the broader aim is to give gastroenterologists and patients a therapeutic option for a disease that has long been managed without one. The future of drug development will not be defined by statistical significance alone, but by whether new therapies also improve the daily burden of living with celiac disease. “The first therapy to cross the line could change the field,” Geller concluded. “It would help establish celiac as a serious medical condition with options beyond a restrictive diet and open the door for what comes next.” Dr. Paul Lizzul is chief medical officer at First Tracks Biotherapeutics, a clinical ‑ stage biotechnology company advancing antibody therapeutics that modulate immune pathways implicated in autoimmune and inflammatory diseases. Marilyn Geller serves as an advisor to First Tracks Bio. Footnotes Abadie V, Jabri B. IL-15: a central regulator of celiac disease immunopathology. Immunol Rev . 2014;260(1):221-234. https://doi.org/10.1111/imr.12191. Yokoyama S, Watanabe N, Sato N, et al. Antibody-mediated blockade of IL-15 reverses the autoimmune intestinal damage in transgenic mice that overexpress IL-15 in enterocytes. Proc Natl Acad Sci U S A . 2009;106(37):15849-15854. https://doi/full/10.1073/pnas.0908834106. Anthony S, Schluns KS. Emerging roles for IL-15 in the activation and function of T-cells during immune stimulation. Research and Reports in Biology . 2015;6:25-37. https://doi.org/10.2147/RRB.S57685.

Source: www.biopharmadive.com ↗
04Lifestyle Matters: How do environmental and lifestyle factors influence Alzheimer’s disease?

Dr. Harrison and Finnish neuroscientist Dr. Miia Kivipelto explore the complex interplay between genetics and lifestyle in Alzheimer's development. Learn how the groundbreaking FINGER study demonstrates potential prevention strategies, and discover the latest evidence on how environmental factors, diet, and chronic conditions influence Alzheimer's risk.

Source: www.biopharmadive.com ↗
05Why Muscle Cells Might Do Some Heavy Lifting

Brown was studying gene therapy in the 1990s when he designed a technology to turn mRNA expression on or off in different cells. For the new mouse study, published in Nature Biotechnology , he adapted the technology to turn off mRNA expression in dendritic cells, muscle cells, or liver cells. The researchers then vaccinated the mice with each version, delivering the vaccines both intravenously and intramuscularly. “The results were pretty stunning,” Brown said. When mRNA expression was turned off in muscle cells, T-cell response went down, suggesting muscle cells play a role in immunity. When expression was turned off in liver cells, T-cell expression tripled — indicating liver cells dampen immunity. Turning off expression in dendritic cells had no effect on T-cell activation, though it did reduce the number of killer T cells by as much as half. (Interestingly, no such reduction occurred when the antigen was SARS-CoV-2 spike. Brown is now investigating why different antigens had varying effects.) Knowing all this is crucial for designing effective mRNA vaccines and therapies. That’s because different mRNA therapies require different strategies. Cancer vaccines must boost tumor-fighting killer (CD8+) T cells. For genetic disease treatments, scientists want to avoid triggering the immune system to prevent killing the very cells the mRNA is meant to modify. “Understanding the immunology is extremely important for this class of drug,” Brown said. The finding doesn’t mean dendritic cells aren’t important for mRNA vaccines to work. “It just means that the mRNA doesn’t have to get into those cells to induce an immune response,” Brown said. Instead, the antigen can be transferred to those dendritic cells.

Source: www.medscape.com ↗
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Peptide Therapy Guide Editorial Team

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