T. Rowe Price and Catalio Capital Management Join $100 Million Series C for Odyssey Therapeutics

Odyssey Therapeutics, a Boston, MA-based biotechnology company developing precision immunomodulators and oncology medicines, raised $101M in Series C funding.

The round, which brought the total amount to $487M, was led by Ascenta Capital with participation from new and existing investors, including OrbiMed, SR One, General Catalyst, Foresite Capital, Woodline Partners LP, HBM Healthcare Investments, Colt Ventures, BlackMars Capital GmbH, Creacion Ventures, funds and accounts advised by Fidelity Management & Research Company, funds and accounts advised by T. Rowe Price Associates, Inc., Catalio Capital Management, Walleye Capital, Alexandria Venture Investments, Racing Beach Ventures LLC, The Healthcare Innovation Investment Fund LLC, an investment fund associated with Leerink Partners, Ab Magnitude Ventures, KB Investment, The Global BioAccess Fund, and others.

The company intends to use the funds to support the advancement of multiple programs into clinical studies and the continuation of investment in discovery to build a sustainable model for therapeutic innovation.

Led by Gary D. Glick, Ph.D., founder and CEO, Odyssey Therapeutics is a biotechnology company focused on discovering, developing and commercializing immunomodulators and oncology medicines.

Its set of tools enables the company to identify drug targets with the highest clinical potential in a modality-agnostic fashion. In just two years, Odyssey has moved multiple programs forward from ideation to a portfolio of high-value product candidates.