Boulevard Bio emerged from stealth with approximately $65 million in launch financing, backed entirely by Deerfield Management and its internal discovery engine, 3DC. The company is developing a quarterly-dosing concept for B cell-driven autoimmune disease using multi-specific antibodies, with Boulevard’s initial focus on IgA nephropathy. At the center of the platform is BLVD101, a bispecific targeting BAFF and APRIL—key cytokines involved in B cell survival and activation. Interim Phase 1 healthy-volunteer data were cited to support a potential 12-week dosing interval, aiming to reduce treatment burden relative to more frequent regimens. Boulevard’s structure—spinning out after advancing assets through early clinical development within Deerfield—signals a growing internal-to-external therapeutics model for reducing early risk while maintaining platform focus.