Caldera Therapeutics

Caldera Therapeutics is a clinical-stage biotechnology company founded in 2025 and based in Cambridge, Massachusetts. The company launched publicly in January 2026 with $112.5 million in total capital raised. This funding consisted of a $75 million Series A round from founding investors Atlas Venture, LAV, and venBio, followed by a $37.5 million Series A-1 round led by Omega Funds with participation from Wellington Management and Janus Henderson Investors.

Caldera is focused on developing treatments for inflammatory bowel disease (IBD) and other immunologic and inflammatory diseases. The company's business model centers on advancing its lead program, CLD-423, a first-in-class bispecific antibody. Caldera believes that therapies targeting a single pathway have reached an efficacy ceiling in IBD and that a dual-pathway approach may yield better outcomes. CLD-423 simultaneously targets two clinically validated pathways, IL-23p19 and TL1A, which have been implicated in IBD. The company in-licensed the exclusive global development and commercialization rights for CLD-423 from China's Qyuns Therapeutics.

The leadership team includes CEO Praveen Tipirneni, former CEO of Morphic Therapeutic, and Chief Scientific Officer Liangsu Wang, who also held a leadership role at Morphic Therapeutic. The team has significant experience in IBD drug discovery and development. As of its public launch in January 2026, Caldera had already initiated a Phase 1 clinical trial of CLD-423 in healthy volunteers.

Keywords: bispecific antibody, inflammatory bowel disease, IBD treatment, immunology, CLD-423, IL-23p19, TL1A, clinical-stage biotechnology, autoimmune diseases, biologics, Crohn's disease, ulcerative colitis, Qyuns Therapeutics, Praveen Tipirneni, Atlas Venture, Omega Funds, immunotherapy, biopharmaceuticals, dual-targeting therapy, antibody engineering