ILiAD Biotechnologies closed an oversubscribed $115 million Series B to advance its live attenuated intranasal pertussis vaccine BPZE1 into pivotal Phase III development and human challenge studies. RA Capital led the round alongside Janus Henderson and BNP Paribas Asset Management Alts. BPZE1 is designed to induce systemic and mucosal immunity via needle‑free administration; ILiAD cited prior human challenge and early clinical data supporting durable protection. The company plans a pivotal human challenge study in 2026 with initial data expected in 2027. Investors emphasized the global pertussis burden and gaps in durable vaccine-mediated protection. The financing positions ILiAD to scale clinical work and regulatory interactions for a candidate targeting both disease and transmission.