Expedition Therapeutics Closes $115M Series B for COPD Drug

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Expedition Therapeutics closed an oversubscribed $115 million Series B on August 5, 2026, led by General Atlantic with RA Capital and Vivo Capital joining.

The existing investor base turned out in full. Sofinnova Investments, Novo Holdings, Forbion, Dawn Biopharma, Adage Capital Management, Balyasny Asset Management, Logos Capital, Sanofi Ventures, BVF Partners and Venrock Healthcare Capital Partners all participated.

The timing was not accidental. The financing was announced alongside the dosing of the first patient in the company global Phase 2 trial in COPD, which is the point at which an asset stops being a preclinical story.

Expedition is based in San Francisco, California, and was founded by Yi Larson, who serves as chief executive.

The money carries EXPD-101, its next generation DPP1 inhibitor, through Phase 2, and funds expansion of the pharmaceutical pipeline into other inflammatory diseases along with further research discovery work.