globenewswire news

– $126.3 million of new funding adds to previously announced $300 million Series A financing – 

– Proceeds will support advancement of afimetoran into pivotal development for lupus and clinical study initiations for multiple development candidates over the next 12 months –

STAMFORD, Conn. and BOSTON, June 30, 2026 (GLOBE NEWSWIRE) -- Beeline Medicines Corporation, a clinical-stage biotechnology company focused on developing and delivering category-leading precision therapies to transform the lives of people with autoimmune and inflammatory diseases, today announced the closing of a $126.3 million Series A extension, bringing its total Series A financing round to $426.3 million. The funding came from existing shareholders and investors, including Bain Capital, Canada Pension Plan Investment Board (CPP Investments), and Bristol Myers Squibb, and included participation from certain members of the Company’s management team. The proceeds from the upsized Series A will support the initiation of several clinical studies across the Company’s broad immunology portfolio, including planned pivotal development of its lead program, afimetoran, in lupus.   

“The strong participation of our existing equity holders in this extension, completed ahead of our anticipated Phase 2 readout for afimetoran in systemic lupus, reflects deep conviction in the opportunity ahead of us to deliver life-changing treatment options for people with immune-mediated diseases, starting with lupus patients,” said Saqib Islam, Chief Executive Officer of Beeline Medicines. “This additional capital provides us with increased operating flexibility as we focus on preparing our lead program for pivotal development and advancing our broader pipeline to deliver differentiated, lasting impact for patients.”

Originally formed in July 2025, Beeline Medicines has assembled an accomplished executive leadership team with proven expertise in drug discovery, clinical development, and global commercialization across multiple therapeutic areas. The Company is advancing a differentiated portfolio of highly selective therapeutic candidates with biologically validated mechanisms to target the underlying causes of immune-mediated diseases, with the ambition of meaningfully improving patient outcomes. Afimetoran, Beeline Medicines’ lead program, is a selective, small molecule, once-daily, equipotent TLR7/8 inhibitor with the potential to be a best-in-disease oral therapy for lupus. The Company has commenced pivotal development preparations in lupus ahead of the expected Phase 2 readout of afimetoran in systemic lupus erythematosus in the second half of 2026.

Beeline Medicines is also advancing BLN-326 (formerly BMS-986326), a novel IL-2-CD25 fusion protein that is a potential leading candidate for diseases characterized by regulatory T cell (Treg) / effector T cell imbalance, including atopic dermatitis and lupus, where Phase 1b studies are ongoing. Over the next 12 months, the Company expects to initiate additional clinical trials across its pipeline, including for lomedeucitinib, an allosteric TYK2 inhibitor with the opportunity to be a first-in-class therapy for rare autoimmune and inflammatory conditions, and BLN-481 (formerly BMS-986481), a novel anti-IL-18 receptor beta antibody with a planned Phase 1 single and multiple ascending dose study in healthy volunteers. Preclinical development of BLN-498 (formerly BMS-986498), a potentially first-in-class myeloid‑selective IL‑10 therapeutic, is also ongoing.

About Beeline Medicines

Beeline Medicines is a clinical‑stage biotechnology company focused on developing and delivering category-leading precision therapies to transform the lives of people living with autoimmune and inflammatory diseases. With a portfolio of potential best-in-class and first-in-disease therapeutic candidates that directly target key pathways governing dysregulated immunological and inflammatory responses, the Company is developing medicines that have the opportunity to provide durable, life-changing impact. Led by an established executive team and backed by world-class life science investors, each day Beeline Medicines is determined to bring the scientific rigor and operational excellence to get to what matters for patients – realizing a world where people with immune-mediated diseases can live life fully.

For more information, visit www.BeelineMedicines.com and follow on LinkedIn.

Beeline Medicines Contact Information

Samantha Sandler
Head of Communications and Investor Relations

Media:
media@beelinemedicines.com

Investors:
investors@beelinemedicines.com