Bain Capital Life Sciences officially launched Beeline Medicines as a new immunology-focused biotech, built around five Bristol Myers Squibb programs originally licensed for development. The venture’s lead asset is afimetoran for systemic lupus erythematosus, with a Phase 2 program expected to generate data later this year. Beeline also plans to advance additional candidates in atopic dermatitis and other immune-mediated indications, including earlier-stage assets aimed at IL-8 and IL-10 pathways. The startup announced a $300 million Series A backing package to fund late-stage development. The formation illustrates how larger pharma supply licensed immunology assets into venture-backed companies to preserve optionality while maintaining scientific focus on specific receptor or pathway biology.