OrbiMed co-leads $200 million financing for Star Therapeutics

Star Therapeutics said it raised a $200 million private financing co-led by OrbiMed and Janus Henderson Investors. Agent Capital, Catalio Capital Management, Cormorant Asset Management, New Leaf Venture Partners, NYBC Ventures, RA Capital Management, Redmile, Sofinnova Investments, Soleus Capital and a sovereign wealth fund also participated.

The company said proceeds will fund its next phase of growth, moving current preclinical programs into clinical testing and adding new programs to the pipeline. Chief executive Adam Rosenthal said the investor base and growing pipeline position Star to advance its programs and expand further.

The financing follows Incyte's July 2026 acquisition of Star's wholly owned subsidiary Vega Therapeutics in a deal valued at up to $2 billion, which included the Phase 3 von Willebrand disease antibody latarcibart. Janus Henderson's Vish Sridharan is joining as a board observer.