--- title: 'Funding Daily Summary: What Happened on October 15, 2026' headline: OMass raises $310 million to advance its drug pipeline description: OMass plans to fund midstage work on an adrenal hormone drug and early clinical development in autoimmune disease. Iambic raised $150 million in an IPO. url: https://thebench.bio/news/funding/2026-10-15 topic: funding date: '2026-10-15' covers: - '2026-10-15' date_published: '2026-10-15T12:02:03Z' date_modified: '2026-10-15T12:02:03Z' tags: - Funding sources: 2 publisher: TheBench.Bio --- # Funding Daily Summary: What Happened on October 15, 2026 **OMass raises $310 million to advance its drug pipeline** OMass plans to fund midstage work on an adrenal hormone drug and early clinical development in autoimmune disease. Iambic raised $150 million in an IPO. ## Today in brief OMass Therapeutics raised $310 million in a Series C, the second-largest private biotech round in Europe this year. [1] Iambic raised $150 million in an IPO. [2] ## OMass raises $310 million for pipeline development OMass Therapeutics raised $310 million in an oversubscribed Series C co-led by Bain Capital Life Sciences, Forbion and Novo Holdings, with new and existing investors participating. [1] The round brings OMass’s total funding to about $475 million, behind only Isomorphic’s $2.1 billion Series B in May among Europe’s private biotech financings this year. [1] OMass plans to use most of the proceeds to advance OMS1620 through Phase 2 for congenital adrenal hyperplasia and ACTH-dependent Cushing’s syndrome. [1] The company aims to block adrenocorticotropic hormone (ACTH) activity at the adrenal gland, lowering androgen production while allowing patients to take lower glucocorticoid doses. [1] OMass said the financing will also support early clinical development of an SLC15A4 inhibitor for lupus and other autoimmune diseases. [1] ## Iambic raises $150 million in IPO Iambic raised $150 million in an initial public offering, taking the AI drug discovery company public. [2] In regulatory filings, Iambic said its approach could substantially change established drug discovery methods. [2] ## The day in numbers - **$310 million**: OMass’s Series C financing, Europe’s second-largest private biotech round of 2026. [1] - **$150 million**: Iambic’s IPO proceeds. [2] ## Also published - [STAT+: On Wall Street, there’s trouble stirring for biotech](), STAT Biotech ## Sources 1. [OMass raises $310M in Europe’s second-largest biotech round of 2026](), European Biotechnology, 2026-10-15 2. [Iambic, an AI drug discovery specialist, banks $150M in an IPO](), BioPharma Dive, 2026-10-15 --- TheBench.Bio wrote this from the reporting cited above, with a language model drafting and editing. [1]: [2]: