Celea Therapeutics, a PureTech Health spinout focused on respiratory disease, secured $180 million to fund a pivotal Phase 3 study of deupirfenidone for idiopathic pulmonary fibrosis (IPF). The financing will support a head-to-head design versus a standard-of-care IPF treatment, testing the oral small molecule in a registrational setting. The story frames deupirfenidone’s clinical development as a direct comparison strategy, which can be pivotal for differentiating efficacy and safety profiles when therapies are already established. For investors and trial planners, the company’s next milestone is performance in the pivotal readout that determines whether deupirfenidone can earn label expansion or replacement opportunities within existing IPF treatment algorithms.