PureTech-backed Celea Therapeutics raised $180 million to advance deupirfenidone, its retooled pirfenidone program for idiopathic pulmonary fibrosis (IPF), toward late-stage testing beginning in the third quarter of 2026. The round was backed by RA Capital Management, Leaps by Bayer, PureTech and other investors, with Celea saying the proceeds will support moving deupirfenidone into a late-stage clinical path after Phase 2 data showed slowing of lung function decline over six months versus placebo. Celea’s strategy also reflects competition in the IPF market where only a small set of therapies are approved, and tolerability considerations can drive switching and adherence. Analyst commentary cited in the report framed the Phase 2 signal as improved efficacy with similar to slightly better tolerability than pirfenidone. If successful, Celea’s approach could also support broader use across fibrotic diseases, positioning the startup to challenge incumbents and next-generation entrants in pulmonary fibrosis.