First Tracks raises $200M to advance celiac drug ANB033

What's the deal? First Tracks BiotherapeuticsDealroom has a profile for this one. Try Dealroom → (Nasdaq: TRAX), a San Diego clinical-stage biotech, has raised $200 million in a private placement. It sold 6,106,870 shares at $32.75 each to a group of institutional investors, with closing expected October 19, 2026.

Who's in? New and existing backers include Affinity Asset AdvisorsDealroom has a profile for this one. Try Dealroom →, First Light Asset ManagementDealroom has a profile for this one. Try Dealroom →, Sirenia Capital ManagementDealroom has a profile for this one. Try Dealroom →, TCGXDealroom has a profile for this one. Try Dealroom →, Trails Edge Capital PartnersDealroom has a profile for this one. Try Dealroom →, and Vestal Point CapitalDealroom has a profile for this one. Try Dealroom →, alongside a life sciences-focused investor and several mutual funds.

What's the endgame? First Tracks develops antibody therapies that modulate immune pathways tied to autoimmune and inflammatory diseases. It will use the proceeds for general corporate purposes, including clinical development of ANB033, a CD122 antagonist in trials for celiac disease and eosinophilic esophagitis.

Its pipeline also includes rosnilimab, a T cell depleter for rheumatoid arthritis, and ANB101, a BDCA2 modulator.

Leerink PartnersDealroom has a profile for this one. Try Dealroom →, Piper SandlerDealroom has a profile for this one. Try Dealroom →, UBS Investment BankDealroom has a profile for this one. Try Dealroom →, and Wells Fargo SecuritiesDealroom has a profile for this one. Try Dealroom → acted as placement agents.

The signal: The round sits in the 92nd percentile by size among US health-sector private placements tracked all-time, signalling strong institutional conviction in First Tracks' immune-modulation pipeline.

Read more: business.theantlersamerican.com

Image credit: First Tracks Biotherapeutics