Odyssey Therapeutics raises $279 million in IPO, adds $25 million private sale

Odyssey Therapeutics, a biotech focused on autoimmune diseases, completed an initial public offering that generated $279 million by selling 15.5 million shares at $18 each. The company also secured an additional $25 million through a concurrent private placement at the same price.

The offering made Odyssey the eleventh biotech to go public this year, and its shares will begin trading on the Nasdaq under the ticker ODTX. The firm had previously withdrawn an IPO filing in 2025, citing market conditions, before re‑entering the market this spring.

Founder and CEO Gary Glick, a veteran of multiple biotech startups, has guided the company since its 2021 launch with backing from investors such as OrbiMed and SR One. To date, Odyssey has raised $727 million in venture capital.

The successful raise exceeds the company’s original expectations and adds to a recent wave of sizable biotech IPOs, highlighting continued investor interest in the sector.