Ferrosa Therapeutics raised seed funding to advance a bispecific antibody program aimed at treating anemia of inflammation across kidney disease, autoimmune disorders, and oncology. The company announced a $3.5 million seed financing for FRS-101, a first-in-class bispecific designed to address anemia of inflammation—an indication that spans multiple chronic disease categories where inflammatory signaling disrupts red blood cell production. The funding will support preclinical development and early studies, with the goal of moving the candidate toward broader clinical testing. For early-stage biotechs, the key development is access to non-dilutive runway via startup capital for a modality (bispecific antibody) that is seeing renewed investor interest.