Autoimmune diseases biotech Odyssey Therapeutics refiles for a $100 million IPO
May 8, 2026 News
Autoimmune diseases biotech Odyssey Therapeutics prices upsized IPO at $18, the high end of the range
Odyssey Therapeutics, a Phase 2 biotech developing precision therapies for autoimmune diseases, raised $279 million by offering 15.5 million shares at $18, the high end of the $16 to $18 range. The company originally filed to offer 13.2 million shares. Existing shareholder TPG Life Sciences Innovations invested $25 million at $18 per share in a concurrent private placement.
May 4, 2026 News
Autoimmune diseases biotech Odyssey Therapeutics sets terms for $225 million IPO, pricing this week
Odyssey Therapeutics, a Phase 2 biotech developing precision therapies for autoimmune diseases, announced terms for its IPO on Monday.
The Boston, MA-based company plans to raise $232 million by offering 13.2 million shares at a price range of $16 to $18.
IPO Overview
Odyssey Therapeutics, a Phase 2 biotech developing precision therapies for autoimmune diseases, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Odyssey is a biotech focused on developing targeted therapies for autoimmune and inflammatory diseases. The company leverages expertise in immunobiology and drug discovery to identify and inhibit key signaling pathways that drive disease. Its lead programs include oral small-molecule candidates targeting RIPK2 and SLC15A4, with its most advanced drug showing early clinical efficacy in ulcerative colitis and others in preclinical development. Odyssey aims to address conditions such as inflammatory bowel disease and lupus, where treatment options remain limited.
The company previously filed for a $100 million IPO in January 2025 before withdrawing it in June 2025.
The Boston, MA-based company was founded in 2021 and booked $3 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol ODTX. Odyssey Therapeutics filed confidentially on February 6, 2026. J.P. Morgan, TD Cowen, Cantor Fitzgerald, Wedbush PacGrow, and Oppenheimer & Co. are the joint bookrunners on the deal.
About the Company
Odyssey is a clinical-stage biopharmaceutical company led by a team and board of drug hunters seeking to transform the standard of care for patients suffering from autoimmune and inflammatory diseases. We believe our deep understanding of immunobiology, coupled with leading expertise in medicinal and computational chemistry, protein biochemistry, structural biology, genetics, and pharmacology, allows us to identify and drug key signaling nodes that drive disease. We have prioritized targets where we believe the underlying disease biology is understood through genetic, clinical, or translational evidence. Our most advanced programs include OD-001, an oral small-molecule scaffolding inhibitor of receptor-interacting protein kinase 2, or RIPK2, and OD-002, an oral small-molecule inhibitor of solute carrier family 15 member 4, or SLC15A4. OD-001 has achieved proof-of-concept in a phase 2a trial for the treatment of ulcerative colitis, or UC, one of the two main types of inflammatory bowel disease, or IBD, and OD-002 is currently in IND-enabling studies. These programs have the potential to yield treatments for inflammatory and autoimmune diseases that have large, addressable patient populations globally and a lack of effective treatments, including IBD, systemic lupus erythematosus, or SLE, and other disorders characterized either by the chronic overactivation of the type I interferon pathway.