Encoded Therapeutics has closed a $275 million Series F to move ETX101 into clinical trials for Dravet syndrome, funding additional studies and expanding its internal manufacturing strategy. The company reported interim Phase I/II data at the European Epilepsy Congress showing sustained seizure frequency reductions and developmental improvements. The financing also creates capacity for ETX301, a gene therapy aimed at post-amputation neuroma pain, with plans for a 2027 IND filing. Encoded is simultaneously enrolling children in a registration-directed trial and launching an expansion in adolescents up to age 18. GV and an undisclosed healthcare investor co-led the round, with participation from new and returning backers including ARCH Venture Partners, Farallon Capital Management, RTW Investments, SoftBank Vision Fund 2, and Venrock. The focus on vertical integration—scaling manufacturing internally rather than relying on contract providers—signals that throughput and chain-of-identity execution are becoming differentiators in personalized and rare-disease gene therapy commercialization.