Dec. 5 Quick Takes: Nearing clinic, Odyssey raises $101M series C

Ascenta Capital led a new $101 million series C round for Odyssey Therapeutics Inc. that is intended to support early clinical development of multiple clinical programs in oncology and immunology. The company has not yet named any candidates or targets in its pipeline. Led by serial entrepreneur Gary Glick, whose IFM Therapeutics Inc. and its descendants generated returns via deals with Novartis AG (SIX:NOVN; NYSE:NVS) and Bristol Myers Squibb Co. (NYSE:BMY), Odyssey has now raised $487 million to date. Lorence Kim, the co-founder and managing partner of Ascenta and former CFO of Moderna Inc. (NASDAQ:MRNA), joined Odyssey’s board.

Other series C investors included OrbiMed Advisors, SR One, General Catalyst, Foresite Capital, Woodline Partners, HBM Healthcare Investments, Colt Ventures, BlackMars Capital GmbH, Creacion Ventures, affiliates of Fidelity Management & Research Co., affiliates of T. Rowe Price, Catalio Capital Management, Walleye Capital, Alexandria Venture Investments, Racing Beach Ventures, The Healthcare Innovation Investment Fund, an affiliate of Leerink Partners, Ab Magnitude Ventures, KB Investment and The Global BioAccess Fund, among others...