Delix Therapeutics, a clinical-stage neuroscience company, has closed an oversubscribed $100 million Series C round. Johnson & Johnson Innovation – JJDC, Inc. and SV Health Investors' Dementia Discovery Fund led it, with existing investors including RA Capital and Artis Ventures joining. The money will fund a Phase II trial of Zalsupindole in recurrent major depressive disorder, expected to start in the first half of 2027. It will also support the company's wider pipeline, including a neurodegeneration programme. In a Phase Ib trial, patients saw an approximately 50% mean drop in depression scores after one week, with no hallucinatory effects reported. A representative of JJDC and SV Health partner Christian Jung have joined Delix's board.

T-Therapeutics raises $133M to bring TCR bispecifics into clinic. Cambridge-based T-Therapeutics has raised $133 million (€118 million) in an oversubscribed Series B financing to advance two experimental T-cell engager therapies for cancer and autoimmune diseases into clinical trials. The round brings the University of Cambridge spinout's total Series A and B funding to $224 million. Why it matters: T-cell engagers have already shown success in blood cancers, but extending the approach to solid tumors remains challenging. T-Therapeutics is developing a different type of bispecific therapy designed to recognize proteins that conventional antibody-based drugs cannot easily reach. The financing: The Series B was co-led by Advent Life Sciences and British Business Bank, with new investors including Johnson & Johnson Innovation, Samsara BioCapital, M-Ventures and Eli Lilly. Existing investors Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures, Tencent and BGF also participated. The funding comes less than a year after T-Therapeutics expanded its Series A to $91 million in November 2025, adding $32 million to its original $59 million financing from 2023. How it works: Most antibody-based cancer therapies recognize proteins on the surface of cells, limiting the range of targets they can address. T-cell receptors (TCRs), by contrast, can recognize fragments of proteins originating inside cells when those fragments are presented on the cell surface by major histocompatibility complex (MHC) molecules. T-Therapeutics uses its proprietary OpTiMus platform, based on genetically engineered mice, to generate a large repertoire of fully human TCRs. These receptors are engineered into bispecific molecules with two functions: one side recognizes a disease-associated target, while the other binds CD3 on T cells, recruiting them to kill the targeted cell. The approach could expand the range of proteins accessible to T-cell engagers, including targets involved in cancer and autoimmune diseases. Two therapeutic directions: T-Therapeutics is advancing two lead programs: * Cancer: Its oncology program targets a disease-driving protein associated with multiple solid tumor types, potentially allowing one therapeutic approach to work across several cancers. * Autoimmune diseases: Its immunology program aims to selectively eliminate pathogenic immune cells responsible for chronic inflammation, potentially resetting the immune response without broadly suppressing the immune system. Both programs are intended to reach clinical proof of concept using the new financing. The company has not disclosed specific molecular targets, initial indications or clinical trial timelines. What they're saying: "T cell engagers have delivered clinical success in haematological cancers but have been held back in solid tumours by the lack of appropriate targets," said Dominic Schmidt, general partner at Advent Life Sciences. "By unlocking previously undruggable intracellular targets, with the potential for a markedly improved safety profile, T-Therapeutics' platform brings the promise of this treatment/modality to solid tumours, where the great majority of cancers arise." Backstory: Founded in 2022 by scientist Allan Bradley, T-Therapeutics emerged from research at the University of Cambridge. Its technology combines TCR discovery with engineered CD3-binding molecules designed to recruit T cells while limiting excessive cytokine release, a potential source of side effects. The company is also strengthening its clinical leadership with the appointment of Kirsty Crame as chief development officer. Crame previously held senior roles at Curatis, Medigene and Gadeta, bringing experience in TCR-based therapeutics. What to watch: The funding provides T-Therapeutics with the resources to move from preclinical development toward testing its technology in patients. The central question is whether its TCR bispecifics can achieve sufficient target specificity and clinical activity while avoiding the safety challenges associated with redirecting T cells against human tissues. Beyond the news: Today has been a busy day for British biotechs, as Oxford spinout Alethio raised a $90 million Series A to take its G6B-targeting antibody ATX-011 into clinical trials for essential thrombocythemia. Sofinnova Partners, which participated in T-Therapeutics' fundraising, also led Alethio's round together with RA Capital.