Celea Therapeutics, backed by PureTech, raised $180 million to advance deupirfenidone, its retooled pirfenidone program for idiopathic pulmonary fibrosis. The company said proceeds will be used to launch deupirfenidone into late-stage testing in the third quarter of 2026. Celea reported Phase 2 results in late 2024 showing the therapy slowed lung-function decline versus placebo over a six-month period. Analysts at Leerink Partners characterized the data as improved efficacy with similar to slightly better tolerability compared with pirfenidone. The round adds to competitive pressure in IPF, where only a small number of drugs are approved and companies are seeking better efficacy and tolerability profiles for progressive fibrotic disease.