Expedition Therapeutics Secures $165M Series A for COPD - InforCapital

Expedition Therapeutics yesterday announced that it has closed an oversubscribed $165 million Series A financing, co‑led by Sofinnova Investments and Novo Holdings. The funding will support global development of its lead candidate, EXPD‑101, a next‑generation oral DPP1 inhibitor targeting chronic obstructive pulmonary disease (COPD) and other neutrophil‑driven inflammatory disorders.

The funding saw participation from Forbion, Dawn Biopharma (a platform controlled by KKR), Adage, Balyasny, Logos Capital, Sanofi Ventures, and existing investors BVF Partners and Venrock Healthcare Capital Partners.

In recent months, Expedition struck an exclusive licensing agreement with Fosun Pharma to acquire development and commercialization rights to XH‑S004 / EXPD‑101 outside mainland China, Hong Kong, and Macau — a deal with potential total value up to $645 million. Under the pact, Expedition will pay Fosun up to $120 million in upfront and development milestones, plus additional sales‑based payments. In China, partner Fosun will continue development, currently running a Phase 2 bronchiectasis trial and Phase 1b COPD study.

The new capital will specifically enable Expedition to initiate a global Phase 2 program in COPD, with the aim of addressing non‑type 2 COPD, which affects nearly 70% of patients and has limited treatment options. The company also plans to explore additional indications in neutrophilic lung disease.

EXPD‑101 has shown a favorable safety profile in Phase 1, with no dose‑limiting toxicities and encouraging pharmacokinetics consistent with once‑daily oral dosing. Biomarker studies confirmed robust target engagement and modulation of neutrophil protease activity.

“Many COPD patients today remain underserved by existing therapies,” said Yi Larson, Founder & CEO of Expedition. “By targeting DPP1, we believe EXPD‑101 has the potential to become a first-in-class agent that tackles the neutrophil pathology underlying disease progression. This financing enables us to move rapidly toward pivotal studies.”

In parallel, Expedition announced the appointment of Andrew Cheng, M.D., Ph.D., CEO of Akero Therapeutics and former CMO at Gilead Sciences, as Chairman of the Board. The company also added Erin Lavelle, Regina Salvat, Jonathan Leff, Ken Harrison, and Gorjan Hrustanovic, enhancing its governance depth.

Expedition’s management team brings deep experience in respiratory drug development and global biotech strategy. Geoff Gilmartin, M.D., the CMO, previously led respiratory and antibody programs at AstraZeneca and Vertex; Eric Hu, Ph.D., Chief Business Officer, has over two decades in biotech and diagnostics at Gilead, Turning Point, and Mitsubishi Tanabe.

The broader DPP1 inhibitor field is gaining momentum. In 2025, Insmed’s brensocatib is poised to become the first approved DPP1 inhibitor for non‑cystic fibrosis bronchiectasis, setting a regulatory precedent and validating the target class. Several other oral DPP1 candidates, such as HSK31858 and BI 1291583, are advancing in respiratory and inflammatory disease trials.

Analysts estimate the DPP1 inhibitor market could reach multibillion‑dollar scale, driven by growing prevalence of COPD, bronchiectasis, vasculitis, and other neutrophil‑mediated conditions. Expedition’s success will depend on its clinical execution, regulatory alignment, and ability to differentiate EXPD‑101 in safety, efficacy, and patient convenience.

As execution unfolds, Expedition plans site initiation across North America, Europe, and Asia to enroll COPD patients globally. The company sees a path not only to respiratory disease markets but also expansion into chronic neutrophilic disorders with high unmet need.