Celea Therapeutics, a PureTech Health spinout focused on idiopathic pulmonary fibrosis (IPF), raised $180 million to advance deupirfenidone (a retooled version of pirfenidone/Esbriet) into late-stage testing. The company plans to launch the program into late-stage studies in the third quarter of 2026. The venture round was backed by RA Capital Management and Leaps by Bayer alongside PureTech and two other unnamed funds. Celea cited prior Phase 2 data showing that deupirfenidone slowed lung-function decline versus placebo over six months, with analysis pointing to improved efficacy and tolerability relative to pirfenidone. Given the limited IPF options and competition among updated antifibrotics, the funding plus timeline positions Celea to challenge for differentiation in a market dominated by existing therapies.