Expedition Therapeutics has secured an oversubscribed $115 million Series B financing from a line-up of big-name investors to propel its lead DPP1 inhibitor through phase 2.
Led by General Atlantic, other new investors included RA Capital, Vivo Capital, Sanofi’s venture arm, Novo Holdings, Forbion, Dawn Biopharma, and others. The new hike is after a recent $165 million Series A investment back in October 2025.
EXPD-101 Origin and Phase 2 Dosing
In 2024, Expedition was launched, and by 2025, it acquired ex-China rights to the DPP1 inhibitor, known as EXPD-101, from Fosun Pharma, which is based in Shanghai, for $17 million upfront. Fosun is currently running a phase 2 study of EXPD-101 in bronchiectasis in China.
In the meantime, Expedition has announced the first patient was dosed in its phase 2 mid-stage study of EXPD-101 in COPD patients, the company said, which is the first global, randomized phase 2 trial of a DPP1 inhibitor in COPD.
The Series B funding will be used to fund the study, but will also help them “dry powder” to pursue other assets to add to their portfolio, as well as continue to fund their own discovery efforts, Yi Larson, Expedition’s CEO
Mechanism of Action: Targeting Neutrophilic Inflammation
Dipeptidyl peptidase 1 (DPP1) is an enzyme that works by turning on neutrophils, a type of immune cell, in the bone marrow. These neutrophils, when mature, migrate from the bone and have a protective role in the immune system and in fighting infection, Larson explained.
“DPP1 is a selective target that targets neutrophilic inflammation, which is the underlying cause of COPD, and some other respiratory diseases as well,” Larson added. As COPD is the third biggest cause of mortality worldwide, this is our first line of focus.”
Neutrophil imbalance or the release of factors such as serine proteases can damage airways in the lungs, usually in patients with COPD. EXPD-101’s mechanism works to “intervene upstream and reduce that imbalance of those serine proteases and help protect some of the airway function and lower the exacerbations that COPD patients have,” said Larson.
Regulatory Precedent and Competitive Landscape
Last year, Insmed won the first FDA approval for a DPP1 inhibitor in its drug candidate Brinsupri. This regulatory success was for non-cystic fibrosis bronchiectasis. Insmed isn’t developing Brinsupri for COPD, but the company is developing another DPP1 inhibitor for “undisclosed indications” in the preclinical phase, its website states.
Expedition Raises $115 Million for COPD Program
Expedition, a Sanofi-backed biotechnology company, is advancing its COPD treatment program into Phase 2 development following a $115 million Series B financing. The funding gives Expedition additional resources to advance clinical development and evaluate its investigational therapy.
The financing highlights continued investor interest in innovative approaches to chronic respiratory diseases. For Expedition, the next stage will focus on generating clinical evidence that can demonstrate the potential value of its COPD candidate.
Expedition Enters a Critical Phase 2 Stage
The move into Phase 2 represents an important milestone for Expedition. At this stage, clinical development typically focuses on gathering more detailed evidence about a drug’s effectiveness, safety, dosing, and potential patient benefits.
