Coultreon Biopharma has raised $125 million in a Series A led by Sofinnova Investments to advance COL-5671, an oral salt-inducible kinase 3 (SIK3) inhibitor in Phase 1 for autoimmune diseases. The company plans to begin Phase 2 studies next year, targeting psoriasis and ulcerative colitis. Coultreon’s program is designed to modulate inflammatory pathways by lowering pro-inflammatory cytokines such as TNFα and IL-23 while increasing IL-10. The financing package includes co-leads Forbion and Novo Holdings, with additional investors spanning Galapagos, Regeneron Ventures, Balyasny Asset Management, and others. The round is a clear bet on “pipeline-in-a-pill” immunology: a systemic small molecule engineered to deliver durability and convenience versus injectable biologics, with the next catalyst expected to be clinical proof-of-concept in Phase 2.