$65 million in Series B funding secured from investors, including founder Flagship Pioneering and Eli Lilly & Company

Two lead programs in immuno-inflammation and immuno-oncology planned to enter IND-enabling studies in 2025

Second discovery partnership in obesity initiated

BOSTON, March 19, 2025 (GLOBE NEWSWIRE) -- Ampersand Biomedicines, a multi-product platform company developing smarter medicines that act specifically at the site of disease and nowhere else, today announced it has secured $65 million in Series B funding from investors including Ampersand’s founder, Flagship Pioneering, Eli Lilly & Company, and several additional new investors. In addition, the company announced the advancement of two lead programs and a second discovery partnership in obesity.

Ampersand’s Series B funding will fuel the continued development of its computationally powered Address, Navigate, Determine (AND)™ Platform to program AND-Body™ Therapeutics, a new category of smarter biologic medicines. AND-Body Therapeutics are designed to localize to their intended target and conditionally actuate biology to treat disease, enabling improved target engagement while limiting on-target, off-tissue side effects. The versatility of the AND Platform allows Ampersand to take aim at a broad range of diseases simultaneously. The funding will also drive the acceleration of Ampersand’s initial pipeline of impactful programs, including one in immuno-inflammation and another in immuno-oncology, both of which are planned to enter IND-enabling studies in 2025.

“Our fundraise represents a pivotal milestone in Ampersand’s journey and affirms our vision to reimagine what’s possible with programmed biologics,” said Jason Gardner, D.Phil., CEO and Director of Ampersand Biomedicines and CEO-Partner at Flagship Pioneering. “We have made important strides accelerating our pipeline progress, securing two partnerships that extend the AND Platform’s reach into obesity, and expanding our team of highly skilled leaders, scientists, and board members. We look forward to advancing our initial programs in immuno-inflammation and immuno-oncology into IND-enabling studies this year.”

Over the course of the past year, Ampersand has also achieved other key milestones, including a partnership with Pioneering Medicines, Flagship’s in house drug discovery and development unit for a discovery program, focused on the treatment of obesity. In November, Ampersand partnered with Pfizer and Pioneering Medicines to create next-generation programmable medicines targeting tissue-selective metabolic pathways, offering a potent approach to potentially improve metabolic health. Last month, the company also added industry veteran Elizabeth Mily to its Board of Directors.

“At Ampersand, we’ve unlocked a fundamentally novel way to program biologics and in doing so, are ushering in a new era of smarter medicines,” said Avak Kahvejian, Ph.D., Board Chair and Co-Founder of Ampersand Biomedicines and General Partner at Flagship Pioneering. “We have reached a key inflection point in the development of our AND Platform, and now with the advancement of an initial pipeline of wholly owned and partnered programs, the enormous impact that such a powerful platform enables is materializing. Looking ahead, with molecular addresses for so many more tissue and cell targets, there is still tremendous opportunity to add new programs and partnerships as we seek to unleash the full potential of this new category of biologics.”

About Ampersand Biomedicines
Ampersand Biomedicines enables a new way of programming medicines that work precisely where needed in the body and nowhere else. The company’s computationally powered Address, Navigate, Determine (AND)™ Platform identifies ideal addresses for drug localization and informs the design of AND-Body™ Therapeutics that have the optimal therapeutic effect. The result is smarter biologic medicines that target the site of disease without affecting healthy tissue or cells. Ampersand Biomedicines was founded by Flagship Pioneering in 2021. For more information, please visit www.ampersand.bio, and follow us on LinkedIn.

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