Expedition Therapeutics closed a $115 million Series B led by General Atlantic as it progresses EXPD-101, an orally dosed candidate designed to target neutrophilic inflammation in COPD. The company said the first patient was dosed in a Phase II COPD trial and that the financing supports clinical, regulatory, and operational capability buildout for near-term milestones. The round adds to Expedition’s earlier Series A and further validates its “China NewCo” sourcing model, which continues to attract funding when paired with clear clinical readouts and an actionable development plan. For COPD-focused investors and developers, the deal also signals that non-branded, mechanism-first strategies targeting exacerbation biology—rather than purely symptom management—remain a central theme in late pre-Phase 2/Phase 2 capital allocation.