Merida Biosciences, a biotechnology company, has launched with $121 million in Series A financing. The financing was co-led by Bain Capital Life Sciences, BVF Partners and Third Rock Ventures, joined by GV and Perceptive Xontogeny Venture Funds (PXV Funds).

Merida has developed a novel platform to precisely target the pathogenic antibodies that underpin a wide array of autoimmune and allergic diseases. The company is developing antibody-like therapeutics with the potential to drive deep and durable depletion of pathogenic antibodies, without the broad immunosuppression and resulting toxicities that accompany currently approved therapies. The company currently has programs targeting Graves’ disease, allergy and primary membranous nephropathy, a chronic autoimmune disease that affects the kidneys.

“We are driven by the opportunity to fundamentally transform the treatment of a wide range of severe autoimmune and allergic diseases,” said Adam Townsend, Chief Executive Officer of Merida. “For the first time, we have the potential to precisely target the clear pathogenic drivers of an intractable set of diseases with absolute selectivity and a degree of completeness and durability that has not been achievable through any approach to date.”

Townsend was appointed Chief Executive Officer in March 2025, bringing more than 20 years of global biopharmaceutical experience in commercial operations and corporate development. He is joined in leadership by Chief Operating Officer Dodzie Sogah, Ph.D., Chief Medical Officer Matthew Leoni, M.D., MBA, Interim Chief People Officer Tara Reagan, MBA and Senior Vice President, Process and Product Development Michael Naill, Ph.D.