Bain Capital backed Beeline Medicines emerged from stealth with a $300 million Series A and five immunology programs licensed from Bristol Myers Squibb. The startup’s pipeline includes afimetoran, a daily oral treatment for systemic lupus erythematosus in Phase 2 readiness, after earlier Phase 1b work in a different lupus form. Beeline said it will expand development with a path toward a pivotal program following Phase 2 data, targeting multiple inflammatory and immune pathways. Other program areas include early work for atopic dermatitis and lupus, plus additional preclinical candidates aimed at IL-8 and IL-10. Saqib Islam, formerly CEO of SpringWorks Therapeutics (acquired by Merck KGaA), leads the company, bringing prior oncology and immune drug development experience into the immunology-focused venture.