Star Therapeutics, a South San Francisco-based biotechnology company, announced a $200 million private financing on October 23, 2026. The financing was co-led by OrbiMed and Janus Henderson Investors.
Other participating investors included Agent Capital, Catalio Capital Management, Cormorant Asset Management, New Leaf Venture Partners, NYBC Ventures, RA Capital Management, Redmile, Sofinnova Investments, Soleus Capital, and a sovereign wealth fund.
The company plans to use the financing to advance its existing preclinical drug candidates toward clinical development and expand its pipeline of antibody therapies. Its research focuses on developing treatments for diseases with unmet medical needs, including conditions in hematology and immunology.
Founded in 2018, Star Therapeutics is led by founder and CEO Adam Rosenthal, PhD. The company develops antibody-based medicines by identifying biological mechanisms that could provide new approaches to treating serious diseases. Sandip Panicker, PhD, serves as its chief scientific officer and co-founder.
The latest financing follows several corporate developments. In July 2026, pharmaceutical company Incyte completed the acquisition of Vega Therapeutics, a wholly owned subsidiary of Star Therapeutics, for $1.25 billion upfront and up to $750 million in additional payments tied to sales milestones. The transaction included latarcibart (VGA039), an investigational monoclonal antibody in Phase 3 development for von Willebrand disease, an inherited bleeding disorder.
Another Star Therapeutics spinout, Electra Therapeutics, completed its $350 million initial public offering in September 2026 and began trading on Nasdaq under the ticker ETRA.
Star Therapeutics had previously announced a $125 million Series D financing in September 2025, co-led by Sanofi Ventures and Viking Global Investors. That financing supported the clinical development of VGA039 and the company’s broader therapeutic pipeline.
The new $200 million financing will support Star Therapeutics as it advances additional antibody programs following the acquisition of Vega Therapeutics and the public listing of Electra Therapeutics.
