Odyssey Therapeutics priced an IPO and concurrent private placement totaling $304 million gross to advance lead programs in inflammatory bowel disease and expand next indications. The company’s phase II lead asset, OD-001, is being developed in ulcerative colitis, with plans to evaluate the SLC15A4 program in lupus. According to the reporting, Odyssey priced the IPO at the top of its range at $18 per share, following an earlier IPO withdrawal in 2025 and a refile later in April. The financing provides additional runway for mid-stage trials and indication expansion. The deal highlights continued market appetite for immunology platforms with clear clinical readouts and multi-indication strategies.