Ferrosa Therapeutics secured $3.5 million in seed funding for FRS-101, a first-in-class bispecific antibody program intended for anemia of inflammation. The company is targeting multiple areas including chronic kidney disease, autoimmune disease, and oncology. The financing is structured to support early development work that can define differentiation—particularly around selectivity, potency, and translational biomarkers for an indication where the biology is heterogeneous. In a competitive antibody landscape, the seed round signals continued investor appetite for bispecifics that can address inflammatory pathways while creating measurable clinical endpoints for anemia populations.