Celea Therapeutics, a PureTech Health spinout, secured $180 million to support a pivotal Phase 3 study of deupirfenidone in idiopathic pulmonary fibrosis. The company plans a head-to-head trial against a standard-of-care IPF drug, with the financing directed toward execution of the pivotal study designed to generate registration-ready evidence for the oral small molecule. The funding round reinforces investor appetite for late-stage respiratory assets, particularly in fibrosis where current therapies can slow progression but rarely deliver durable disease reversal.