Anodyne Nanotech closed a $12.6 million Series A, led by Velocity Partners, to advance ANN-101, a once-weekly GLP-1 skin patch, into first-in-human trials. The Boston company's HeroPatch solid-state microneedle platform delivers multi-milligram doses of peptides without injections or cold storage, aiming to reach the drug exposures obesity treatment requires. The round adds to a wave of investment in alternatives to weekly GLP-1 injections.
MultiValent Biotherapies announced June 16 a first closing of $27.425 million in Series A financing to advance MVB-101, a PSMA × folate-receptor-alpha (FRα) dual-target peptide-drug conjugate licensed from China-based Coherent Biopharma (originally CBP-1018). MVB-101 binds two validated prostate-cancer targets simultaneously; existing PDCs and radioligand therapies (Pluvicto, Lutathera) hit one target each. MultiValent holds exclusive global rights outside greater China. A Phase 1b/2a clinical trial in a subgroup of prostate cancer patients is planned to start in Q3 2026. The launch adds another oncology PDC to a field still dominated by Pluvicto (lutetium-177 PSMA-617), Lutathera, and Pfizer's AVA6000 FAP-Dox.