Expedition Therapeutics Raises Oversubscribed $115 Million Series B Financing and Advances EXPD-101 into Phase 2 Clinical Trial for COPD
Expedition Therapeutics, a clinical-stage biotechnology company focused on developing innovative oral small-molecule therapies for inflammatory and respiratory diseases, has announced two significant milestones that mark an important stage in the company’s growth. The company successfully closed an oversubscribed $115 million Series B financing round while simultaneously initiating its global Phase 2 clinical trial evaluating its lead investigational therapy, EXPD-101, for the treatment of chronic obstructive pulmonary disease (COPD).
The financing was led by General Atlantic, one of the world’s leading global investment firms, and attracted participation from several prominent life sciences investors, including RA Capital Management, Vivo Capital, and a strong group of existing investors. The successful fundraising reflects growing investor confidence in Expedition Therapeutics’ scientific platform, clinical strategy, and long-term vision for developing next-generation treatments targeting chronic inflammatory diseases.
Alongside the financing announcement, Expedition confirmed that the first patient has been dosed in the Phase 2 study of EXPD-101, representing a major advancement for the company’s clinical pipeline and positioning it as the first biotechnology company to initiate a global randomized Phase 2 trial evaluating a DPP1 inhibitor specifically for COPD.
Together, these achievements strengthen Expedition’s financial position while accelerating the development of therapies designed to address significant unmet medical needs in respiratory and inflammatory diseases.
Strong Investor Support Highlights Confidence in the Company’s Vision
The $115 million Series B financing exceeded its original target, demonstrating substantial investor interest in Expedition Therapeutics’ approach to treating chronic inflammatory diseases.
The investment syndicate was led by General Atlantic and included participation from respected healthcare investors such as RA Capital and Vivo Capital. Existing investors also reaffirmed their confidence by participating in the financing, including Sofinnova Investments, Novo Holdings, Forbion, Dawn Biopharma—a platform controlled by KKR—Adage Capital Management, Balyasny Asset Management, Logos Capital, Sanofi Ventures, BVF Partners, and Venrock Healthcare Capital Partners.
The participation of both new and returning investors signals strong belief in Expedition’s scientific strategy, management team, and clinical development programs.
For biotechnology companies advancing innovative therapies through clinical development, securing substantial financial backing is critical to supporting expensive mid-stage clinical trials, expanding research programs, and building long-term operational capabilities.
The oversubscribed nature of the financing further indicates that investor demand exceeded the amount of capital the company initially sought to raise.
Financing to Accelerate Clinical Development
Expedition Therapeutics plans to use the proceeds from the Series B financing to support several strategic priorities over the coming years.
The largest portion of the capital will fund continued clinical development of EXPD-101, the company’s lead investigational therapy, through its ongoing Phase 2 clinical program.
In addition, the financing will support expansion of Expedition’s broader pipeline of next-generation therapies targeting inflammatory diseases beyond COPD.
The company also intends to invest in research and discovery activities aimed at identifying future drug candidates based on its expertise in inflammatory biology.
These investments are expected to strengthen Expedition’s long-term research capabilities while creating opportunities to develop additional therapies addressing diseases characterized by chronic inflammation.
Advancing EXPD-101 into Phase 2
One of the most significant announcements accompanying the financing was confirmation that the first patient has been enrolled and dosed in Expedition’s global randomized Phase 2 clinical trial evaluating EXPD-101 for chronic obstructive pulmonary disease.
This milestone officially moves the company’s lead therapeutic candidate into mid-stage clinical testing.
Phase 2 clinical trials are designed to evaluate both safety and preliminary therapeutic effectiveness in larger patient populations following successful completion of early-stage studies.
For Expedition, the initiation of this study represents a major advancement after encouraging Phase 1 clinical results demonstrated favorable safety and pharmacokinetic characteristics.
Importantly, the company noted that it is the first organization to launch a global randomized Phase 2 study evaluating a DPP1 inhibitor specifically for COPD.
This leadership position highlights Expedition’s commitment to advancing novel therapeutic approaches targeting disease mechanisms not adequately addressed by existing treatments.
Understanding COPD
Chronic obstructive pulmonary disease is one of the world’s most common chronic respiratory illnesses and remains a leading cause of death globally.
The disease encompasses progressive lung disorders such as chronic bronchitis and emphysema, both of which limit airflow and make breathing increasingly difficult.
Patients frequently experience persistent cough, excessive mucus production, wheezing, shortness of breath, fatigue, and repeated respiratory infections.
COPD typically worsens over time, with many patients suffering acute exacerbations that require hospitalization and significantly reduce quality of life.
Although smoking remains the leading cause of COPD, environmental exposures, occupational pollutants, and genetic factors also contribute to disease development.
Despite significant advances in respiratory medicine, currently available treatments primarily focus on controlling symptoms and reducing exacerbations rather than modifying the underlying disease process.
Consequently, there remains considerable demand for innovative therapies capable of targeting the biological mechanisms driving disease progression.
Targeting Neutrophilic Inflammation
One of the defining characteristics of COPD is chronic neutrophilic inflammation within the lungs.
Neutrophils are white blood cells that normally protect the body against infections. However, excessive activation of these immune cells contributes to ongoing inflammation and tissue damage in patients with COPD.
Persistent neutrophilic inflammation plays an important role in worsening lung function, accelerating disease progression, and increasing the frequency of exacerbations.
Traditional COPD therapies—including bronchodilators, corticosteroids, and anti-inflammatory medications—often provide symptom relief but do not fully suppress the inflammatory pathways responsible for ongoing tissue injury.
Expedition Therapeutics believes targeting these upstream inflammatory mechanisms may provide more meaningful clinical benefits than existing treatment approaches.
A Next-Generation DPP1 Inhibitor
EXPD-101 has been developed as a next-generation inhibitor of dipeptidyl peptidase 1 (DPP1), an enzyme involved in activating neutrophil serine proteases.
These proteases contribute significantly to inflammatory tissue damage observed in COPD and several other chronic inflammatory diseases.
By selectively inhibiting DPP1, EXPD-101 aims to reduce activation of these destructive enzymes before they contribute to excessive inflammation.
Because DPP1 functions upstream within the inflammatory cascade, blocking its activity may provide broader control over multiple inflammatory pathways simultaneously.
This upstream approach has attracted increasing scientific interest as researchers seek therapies capable of modifying disease biology rather than simply managing symptoms.
The company believes EXPD-101 possesses the potential to become both a first-in-class and best-in-class therapy within this emerging treatment category.
Encouraging Phase 1 Results
Before advancing into Phase 2, EXPD-101 completed Phase 1 clinical evaluation with encouraging results.
According to Expedition Therapeutics, the investigational therapy demonstrated favorable tolerability across evaluated dose levels.
Importantly, no dose-limiting toxicities were observed during the early-stage studies, supporting continued clinical development.
The medicine also exhibited dose-proportional pharmacokinetics, meaning systemic drug exposure increased predictably as doses increased.
These findings support the feasibility of convenient once-daily oral dosing, an important consideration for patients living with chronic diseases requiring long-term treatment.
An orally administered therapy capable of effectively targeting inflammatory pathways may offer meaningful advantages compared with more complex treatment regimens.
Scientific Perspective
Dr. James Chalmers, Rhodes Chair of Experimental Therapeutics and Clinical Pharmacology at the University of Oxford, highlighted the importance of exploring new therapeutic approaches for COPD.
He noted that COPD remains among the leading causes of mortality worldwide despite decades of therapeutic development.
Current treatment options primarily address symptoms while failing to adequately control the chronic neutrophilic inflammation driving disease progression and recurrent exacerbations.
According to Dr. Chalmers, selectively inhibiting DPP1 offers the possibility of interrupting a critical upstream inflammatory pathway, potentially improving long-term clinical outcomes for patients.
He expressed enthusiasm regarding the initiation of the global Phase 2 clinical study, which will evaluate both the safety profile and therapeutic potential of EXPD-101 in individuals with COPD.
Leadership Highlights a Defining Milestone
Expedition Therapeutics Founder and Chief Executive Officer Yi Larson described the dual announcements as defining achievements for the company.
She emphasized that completing an oversubscribed financing while simultaneously initiating a global Phase 2 clinical trial represents an important validation of both Expedition’s scientific platform and development strategy.
Larson noted that assembling a syndicate of leading biotechnology investors reflects strong confidence in the company’s mission to develop differentiated therapies for patients living with serious chronic inflammatory diseases.
She also reaffirmed the company’s commitment to advancing innovative medicines capable of addressing substantial unmet medical needs.
General Atlantic Joins the Board
As part of the financing transaction, Brett Zbar, M.D., Managing Director and Global Head of Life Sciences at General Atlantic, will join Expedition Therapeutics’ Board of Directors.
His appointment adds extensive biotechnology investment and strategic development experience to the company’s leadership.
Dr. Zbar noted that Expedition is pursuing a differentiated scientific strategy focused on significant unmet needs within inflammatory and respiratory medicine.
He described the transition into Phase 2 clinical development as an important inflection point in the company’s evolution and expressed General Atlantic’s enthusiasm for supporting Expedition as it advances EXPD-101 through the next stages of clinical evaluation.
Positioned for Continued Growth
The successful completion of Expedition Therapeutics’ oversubscribed $115 million Series B financing, coupled with the initiation of its global Phase 2 COPD study, marks a transformative period for the company. With strong backing from an experienced syndicate of life sciences investors, Expedition is well positioned to advance EXPD-101 while expanding its broader pipeline of innovative oral therapies targeting inflammatory diseases.
By focusing on neutrophilic inflammation through selective DPP1 inhibition, the company is pursuing a novel therapeutic strategy that aims to address the underlying biological mechanisms responsible for COPD progression rather than simply managing symptoms. Supported by encouraging Phase 1 data, experienced leadership, and new Board representation from General Atlantic, Expedition Therapeutics enters its next phase with strengthened financial resources, growing clinical momentum, and the potential to deliver meaningful new treatment options for patients affected by chronic respiratory and inflammatory diseases.
About Expedition Therapeutics
Expedition Therapeutics is a biotechnology company developing novel therapies for serious inflammatory and respiratory diseases. The company’s lead program, EXPD-101, is a next-generation once-daily DPP1 inhibitor with first-in-class potential in COPD and first/best-in-class potential across a broad spectrum of other neutrophil-driven diseases. Expedition combines deep translational expertise, clinical development experience, and a platform for in-licensing global innovation. For more information, visit www.expeditiontx.com.
About General Atlantic
General Atlantic is a leading global investor with more than four and a half decades of experience providing capital and strategic support for over 885 companies throughout its history. Established in 1980, General Atlantic continues to be a dedicated partner to visionary founders and investors seeking to build dynamic businesses and create lasting value.
Guided by the conviction that entrepreneurs can be incredible agents of transformational change, the firm combines a collaborative global approach, sector specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with and scale innovative businesses around the world.
The firm leverages its patient capital, operational expertise, and global platform to support a diversified investment platform spanning Growth Equity, Infrastructure, and Strategic Solutions. General Atlantic manages approximately $129 billion in assets under management, inclusive of all strategies, as of June 30, 2026, with more than 900 professionals in 20 countries across five regions. For more information on General Atlantic, please visit www.generalatlantic.com.