OMass raises $310M series C to chase Vertex in rare adrenal disorder
What's the deal? Oxford-based OMass Therapeutics has raised a $310 million series C round to advance drugs for rare endocrine and autoimmune diseases. The financing was co-led by Bain Capital Life SciencesDealroom has a profile for this one. Try Dealroom →, ForbionDealroom has a profile for this one. Try Dealroom →, and Novo HoldingsDealroom has a profile for this one. Try Dealroom →.
Who else is in? Janus Henderson Investors, SV Health InvestorsDealroom has a profile for this one. Try Dealroom →, and Jefferson Life SciencesDealroom has a profile for this one. Try Dealroom → joined, alongside existing backers including SynconaDealroom has a profile for this one. Try Dealroom →, Sanofi VenturesDealroom has a profile for this one. Try Dealroom →, GV, the UK government's British Business Bank, and the University of OxfordDealroom has a profile for this one. Try Dealroom →.
What's the money for? OMass will push its lead candidate, OMS1620, through an ongoing phase 1 study and into phase 2 for congenital adrenal hyperplasia (CAH) and ACTH-dependent Cushing's syndrome. The drug is a melanocortin-2 receptor antagonist designed to outdo rivals by staying "sticky on the receptor," chief executive officer Ros Deegan said.
A second, preclinical program targets SLC15A4 for lupus and other diseases tied to interferon overproduction and pathogenic B-cell activation.
What's the endgame? Deegan wants to build OMass into "Britain's Big Biotech," pointing out that the UK "hasn't had a Vertex, a Genentech, a Biogen." She called the round a "fantastic milestone" on that journey.
Why it stands out: The company billed the raise as the second-largest by any European biotech so far in 2026, trailing only AlphabetDealroom has a profile for this one. Try Dealroom →-founded Isomorphic Labs' $2.1 billion series B. It is also among the largest private financings for a UK biotech in recent years.
The signal: Investors are backing a small-molecule bet against established players in rare diseases, where OMass argues a once-daily pill can beat injectable competitors. With US and European funds in the syndicate, the round tests whether UK biotech can produce a breakout name of its own.
Read more: endpoints.news, fiercebiotech.com, thetimes.com
Image credit: Enzymlogic
