Beeline Medicines adds $126.3M to massive Series A

Beeline Medicines closed a $126.3 million Series A extension on June 30, bringing its total Series A financing to $426.3 million. The company said the new capital came from existing shareholders and investors, including Bain Capital, Canada Pension Plan Investment Board, and Bristol Myers Squibb, with participation from certain members of management.

The financing will support several clinical studies across Beeline’s immunology portfolio, including planned pivotal development of its lead program, afimetoran, in lupus. The company said it also expects to initiate clinical studies for multiple development candidates over the next 12 months, signaling continued expansion of its autoimmune and inflammatory disease pipeline.

Beeline Medicines is a clinical-stage biotechnology company focused on precision therapies for autoimmune and inflammatory diseases. The size of the upsized Series A is notable for a private biotech still building out a broad portfolio, and the participation of major life sciences investors suggests continued interest in immunology assets with multiple disease applications.