Odyssey Therapeutics Announces $218 Million Series A Financing to Advance Next Generation Inflammation and Oncology Medicines

OrbiMed-led, SR One co-led financing supports multiple pipeline programs driven by exceptional leadership team
Published: Dec. 7, 2021 at 7:00 AM EST

BOSTON, Dec. 7, 2021 /PRNewswire/ -- Odyssey Therapeutics, a biotechnology company pioneering next generation precision immunomodulators and oncology medicines, today announced the completion of an oversubscribed $218 million Series A financing led by OrbiMed Advisors and co-led by SR One Capital Management with participation from Foresite Capital, Woodline Partners LP, Logos Capital, HBM Healthcare Investments, Colt Ventures, Creacion Ventures, and other institutional investors. Carl L. Gordon, Ph.D., Managing Partner of OrbiMed Advisors, will join Odyssey's board of directors. The financing will be used to advance multiple pipeline programs and Odyssey's discovery platform aimed at expanding the druggable genome. Founded by Gary D. Glick, Ph.D., the company is led by a team of drug hunters and executives with an extraordinary track record of accomplishment in helping to bring more than 20 drugs to market.

Odyssey Therapeutics logo
Odyssey Therapeutics logo

Anti-inflammation immunotherapies, such as anti-TNF antibodies and JAK inhibitors, and newer oncology immunotherapies and targeted therapies have improved the standard of care for some patients. However, numerous challenges including limited efficacy, inherent or acquired drug resistance, and mechanism-based toxicity restrict broader patient care and limit their benefits.

Building on these past approaches, Odyssey has developed a strategy to create a portfolio of product candidates that will go beyond the limitations of current medicines and enhance the standard-of-care for patients living with inflammatory diseases and cancer. The company is focused on targets and mechanisms that control validated signaling nodes that drive disease, with the goal of creating medicines that achieve optimal product profiles for patients. In addition, Odyssey is applying its highly integrated drug hunting engine and class-leading computational and data sciences platform to challenging, high-value targets with the potential to revolutionize treatment paradigms, but for which traditional discovery approaches have not succeeded.

"A renaissance in medicinal chemistry, coupled with new drug discovery technologies and an expanded understanding of the drivers of immune dysfunction and cancer, has created an unprecedented opportunity to discover new drugs with much greater potential for patients," said Gary D. Glick, Ph.D., Chief Executive Officer of Odyssey Therapeutics. "Odyssey has brought together the financing, technology, and a team with decades of success in drug discovery and development and is poised to capitalize on this opportunity and take precision therapies to the next level: providing patients with better medicines to improve their lives."

"Odyssey has assembled one of the strongest biotech teams I have seen," said Carl Gordon, Ph.D., CFA, OrbiMed Advisors. "Paired with its next-generation scientific approach, Odyssey is positioned to accelerate the discovery and development of transformative medicines to improve the lives of a broad range of patients living with inflammatory diseases and cancer."

Experienced leadership team with proven successes
Odyssey was founded by Dr. Glick and a group of world-renowned drug hunters and academic experts in immunology, cancer biology, synthetic and systems biology, and proteomics. With headquarters and labs in Boston, Odyssey is rapidly expanding with more than 90 scientists and staff.

Odyssey's founding team has collectively made a number of the most important discoveries in immunology and cancer biology over the last 15 years. These key scientific insights underpin the discovery and rationale of several marketed drugs and medicines in clinical testing. Odyssey is leveraging this in-house intellectual capital not only to select targets but also to determine the therapeutic modality that will have the greatest clinical impact. To transform scientific insights into medicines, Odyssey is organized in a bottom-up manner that cuts across traditional disciplines and maximizes speed, efficiency, and rigor across the organization.

The Odyssey senior scientific management team includes:

  • Gary D. Glick, Ph.D., Founder, President, and Chief Executive Officer
  • Robert Abraham, Ph.D., Executive Vice President, Cancer Biology
  • Natalie Dales, Ph.D., Senior Vice President, Chemistry and Drug Discovery
  • Joseph McDonald, Ph.D., Chief Data Officer
  • Shifeng Pan, Ph.D., Executive Vice President, Head of Discovery
  • David L. Pompliano, Ph.D., Co-Founder and Chief Innovation Officer
  • Stephen Soisson, Ph.D., Executive Vice President, Structural Biology and Protein Therapeutics

Odyssey's board of directors includes:

  • Gary D. Glick, Ph.D., President and CEO, Odyssey Therapeutics
  • Carl L. Gordon, Ph.D., CFA, Managing Partner, OrbiMed Advisors
  • Jill Carroll, Partner, SR One Capital Management
  • Charles Baum, M.D., Ph.D., President, Founder, and Head of R&D, Mirati Therapeutics
  • Valerie Odegard, Ph.D., President and CSO, Silverback Therapeutics

About Odyssey Therapeutics
Odyssey Therapeutics is a biotechnology company pioneering the efficient development of next generation immunomodulators and oncology medicines. Comprised of an expert team of drug hunters and executives, Odyssey is making a transformational impact on the field of drug discovery and is accelerating the path to clinical development to drive the creation of more effective precision medicines. For more information, please visit www.odysseytx.com.

About OrbiMed Advisors
OrbiMed Advisors is a leading healthcare investment firm, with approximately $18 billion in assets under management. OrbiMed invests globally across the healthcare industry through a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed's team of over 100 professionals is based in New York City, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets.

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