Beeline Medicines raises $126.3M, bringing total Series A funding to $426.3M for immune‑drug development

Beeline Medicines announced an additional $126.3 million in Series A financing, pushing the total raised to $426.3 million. The capital boost was disclosed on Tuesday and follows an earlier spring announcement of a large private‑biotech fundraise.

The company, founded with backing from Bain Capital, is focused on advancing a portfolio of drugs licensed from Bristol Myers Squibb. Its lead candidate, afimetoran, is a once‑daily oral molecule currently in mid‑stage trials for systemic lupus erythematosus.

A second program, a biologic identified as BLN-326, is in human testing for conditions such as atopic dermatitis and lupus. The new funding arrives ahead of an upcoming data readout for afimetoran.

CEO Saqib Islam said the investment reflects strong confidence in the company’s ability to deliver life‑changing treatments for immune‑mediated diseases, starting with lupus patients.