--- title: 'Funding Daily Summary: What Happened on October 16, 2026' headline: OrbiMed raises $3 billion for two life-sciences funds description: Funding also went to an ADPKD gene-therapy company, an RNAi IPO and early-stage drug developers. url: https://thebench.bio/news/funding/2026-10-16 topic: funding date: '2026-10-16' covers: - '2026-10-16' date_published: '2026-10-16T12:02:26Z' date_modified: '2026-10-16T12:02:26Z' tags: - Funding - Industry sources: 6 publisher: TheBench.Bio --- # Funding Daily Summary: What Happened on October 16, 2026 **OrbiMed raises $3 billion for two life-sciences funds** Funding also went to an ADPKD gene-therapy company, an RNAi IPO and early-stage drug developers. ## Today in brief OrbiMed raised $3 billion for two funds investing in life sciences and healthcare across the US, Europe and Asia. [1] Estuary launched with $93 million to develop two gene therapies for inherited kidney disease. [2] [3] City priced a $200 million IPO to advance three RNAi medicines and research on treatments for tissues beyond the liver. [4] Acta Pharmaceuticals raised $24 million for its Alzheimer’s pipeline. [5] ## OrbiMed raises $3 billion for US, European and Asian funds OrbiMed raised $3 billion across two private equity funds focused on life sciences and healthcare in three regions. [1] OrbiMed Private Investments X raised more than $1.9 billion for US and European life sciences. OrbiMed Asia Partners VI raised more than $1 billion for Asian venture capital and healthcare growth investments. [1] The funds will target biopharmaceuticals, medical devices, diagnostics and technology-enabled healthcare services. [1] OrbiMed said its investors include healthcare institutions, retirement funds, family offices, sovereign wealth funds and university endowments. [1] ## Estuary launches with funding for two ADPKD gene therapies Estuary Biotherapeutics launched with a $93 million Series A led by RA Capital to develop two genetic medicines for autosomal dominant polycystic kidney disease (ADPKD). [2] [3] A report on the launch put the company’s total committed financing at $103 million. [3] EST-201 delivers a full-length PKD2 gene. Estuary expects to start a clinical trial in 2027 for patients with a PKD2 mutation. [3] EST-101 delivers a functional region derived from PC1. Estuary expects to start a trial in 2028 for patients with a PKD1 mutation. [3] Both programs use adeno-associated virus delivery. [3] Research by the company’s founders found that restoring polycystin expression reversed signs of disease in mice with established cystic disease. [3] Estuary’s chief executive identified delivery to kidney cells and clinical translation as key challenges. [3] ## City prices a $200 million IPO for RNAi medicines RNAi drugmaker City priced an IPO valued at $200 million. [4] The proceeds are expected to support three medicines in or nearing clinical testing, plus earlier research on RNAi treatments targeting tissues beyond the liver. [4] ## Acta raises $24 million for Alzheimer’s pipeline Acta Pharmaceuticals raised $24 million in seed funding for its Alzheimer’s pipeline, including lead candidate GSM-779690T. [5] The oral investigational drug is a gamma-secretase modulator designed to lower Aβ42 and raise levels of the shorter peptides Aβ37 and Aβ38. [5] Acta expects to begin a Phase 1 study in October 2026, testing single and multiple doses in healthy adults for safety, tolerability and pharmacokinetics. [5] The round included Gamma Bio Investors, Dolby Family Ventures, the Alzheimer’s Disease Research Foundation, family offices and other investors. [5] ## Also worth knowing - Microbiotica raised £36 million in the first close of a Series C led by the British Business Bank to advance its daily, eight-strain capsule MB310 into Phase 2 for ulcerative colitis. [6] ## The day in numbers - **$3 billion**: OrbiMed’s combined fundraising across two private equity funds. [1] - **$200 million**: Reported value of City’s IPO. [4] - **$93 million**: Estuary’s Series A financing. [2] - **£36 million**: First close of Microbiotica’s Series C. [6] - **$24 million**: Acta Pharmaceuticals’ seed financing. [5] ## Sources 1. [OrbiMed raises $3bn to back global life science players ](), Pharmaceutical Technology, 2026-10-16 2. [Biogen-backed Estuary nabs $93M for liver disease gene therapy](), BioPharma Dive, 2026-10-16 3. [ADPKD Gene Therapy Development at Newly Launched Estuary Biotherapeutics](), Inside Precision Medicine, 2026-10-16 4. [Next-gen RNAi drugmaker City prices $200M IPO](), BioPharma Dive, 2026-10-16 5. [Acta Pharmaceuticals raises $24m for Alzheimer’s therapies](), Pharmaceutical Technology, 2026-10-16 6. [Microbiotica raises £36M to test gut-bacteria capsule in ulcerative colitis](), European Biotechnology, 2026-10-16 --- TheBench.Bio wrote this from the reporting cited above, with a language model drafting and editing. [1]: [2]: [3]: [4]: [5]: [6]: