Expedition Therapeutics Raises $165 Million in Oversubscribed Series A

Expedition Therapeutics has closed a $165 million Series A financing round to support development of its lead candidate, EXPD-101, a next-generation DPP1 inhibitor targeting neutrophilic inflammation in chronic obstructive pulmonary disease (COPD). The round was co-led by Sofinnova Investments and Novo Holdings, with participation from Forbion, Dawn Biopharma (KKR), Adage, Balyasny, Logos Capital, Sanofi Ventures, and existing backers BVF Partners and Venrock Healthcare Capital Partners.

Proceeds will fund a global Phase 2 trial in COPD and support broader indication expansion. EXPD-101 has shown favorable safety and pharmacokinetics in Phase 1, positioning it as a potential first-in-class oral therapy for non-type 2 COPD, which affects the majority of patients.

“Most COPD patients lack effective treatment options,” said Yi Larson, Founder and CEO, Expedition Therapeutics. “DPP1 represents an exciting new mechanism for COPD, and EXPD-101 has the potential to be a first-in-class therapy with this target. This financing from top-tier investors allows us to accelerate development, with the potential to treat a broad range of COPD patients, addressing a major unmet need and improving the standard of care for millions.”

Expedition acquired global rights to EXPD-101 (excluding China, Hong Kong, and Macau) from Fosun Pharma in August. The candidate is also being evaluated in a Phase 2 bronchiectasis study in China.

The company is led by CEO Yi Larson, formerly CFO of LianBio and Turning Point Therapeutics, and supported by a team with deep respiratory drug development experience. New board members include executives from Akero Therapeutics, Forbion, Novo Holdings, and BVF Partners.