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Odyssey Therapeutics Soars: $279M IPO Paves Way for New Treatments
8 May
Summary
- Odyssey Therapeutics raised $279 million in an upsized IPO.
- The company focuses on treatments for autoimmune and inflammatory diseases.
- Proceeds will fund clinical development of OD-001 for ulcerative colitis.
Odyssey Therapeutics, a biopharmaceutical company based in Boston, announced on Thursday, May 7, 2026, that it has successfully raised $279 million through its upsized U.S. initial public offering. The company sold 15.5 million shares at $18 each, exceeding its initial pricing range.
This funding is a significant boost for Odyssey's mission to develop treatments for autoimmune and inflammatory diseases. The proceeds are earmarked for the clinical development of its lead candidate, OD-001, which is currently in a mid-stage trial for ulcerative colitis, a form of inflammatory bowel disease. The company was founded in 2021 and has since secured substantial funding.
The recent performance of U.S. biotech IPOs has seen a notable resurgence in 2026, with several other companies also tapping equity markets. Odyssey Therapeutics is poised to begin trading on the Nasdaq stock exchange on Friday under the ticker symbol 'ODTX'.
