Ampersand Biomedicines, a trailblazer in programmable biologics, has raised $65 million in Series B funding to propel the development of its cutting-edge AND-Body™ Therapeutics. Backed by leading investors like Flagship Pioneering and Eli Lilly & Company, this funding round marks a major leap forward for the Boston-based biotech startup.
The investment will supercharge Ampersand’s proprietary Address, Navigate, Determine (AND)™ Platform — a computationally driven technology designed to create targeted therapies that act solely at the site of disease. By precisely localizing treatment, these next-gen biologics aim to reduce harmful side effects typically seen with conventional drugs.
Pipeline Expansion Targets Immuno-Inflammation and Oncology
With this fresh capital, Ampersand is accelerating its pipeline, particularly focusing on two high-impact programs. The company plans to initiate Investigational New Drug (IND)-enabling studies in 2025 for its lead candidates in immuno-inflammation and immuno-oncology — two critical areas with growing demand for precision treatments.
“Our Series B raise is a transformative milestone that validates our mission to redefine what biologics can achieve,” said Jason Gardner, D.Phil., CEO and Director of Ampersand Biomedicines. “We’re advancing our lead programs, expanding into new disease areas like obesity, and strengthening our leadership team to execute our bold vision.”
Strategic Partnerships Strengthen Obesity Drug Discovery
Building on its momentum, Ampersand also revealed the launch of a second discovery partnership focused on obesity — a sector attracting increasing biotech investment. Over the past year, the company inked a collaboration with Pioneering Medicines, Flagship’s discovery engine, targeting obesity treatments.
In a further show of industry confidence, Ampersand joined forces with Pfizer and Pioneering Medicines in November to develop next-generation programmable biologics. This collaboration zeroes in on tissue-specific metabolic pathways, offering a promising approach to tackle metabolic disorders with precision.
Industry Veterans Join the Team
Ampersand continues to bolster its leadership, welcoming seasoned executive Elizabeth Mily to its Board of Directors. Her extensive experience is expected to help guide the company through this next phase of growth.
Avak Kahvejian, Ph.D., Board Chair and Co-Founder of Ampersand, emphasized the platform’s potential: “We’ve unlocked a groundbreaking way to program biologics. With AND-Body Therapeutics, we’re entering a new era of smarter, more precise medicines. This platform’s versatility allows us to tackle a wide range of diseases, and we’re just scratching the surface of its capabilities.”
What’s Next for Ampersand Biomedicines?
Looking ahead, Ampersand plans to expand its programs and partnerships while exploring more molecular targets for future therapies. With the AND Platform maturing, the biotech firm is well-positioned to lead the next wave of programmable biologics designed to treat diseases where they originate — sparing healthy tissues in the process.
