SonoThera raised $125 million in a Series B to advance an ultrasound-based, microbubble-mediated non-viral delivery platform for genetic medicines. The company’s technology uses microbubbles activated by ultrasound to create transient pathways in targeted tissue, aiming to address long-standing delivery limitations from viral vectors and some LNP constraints. The financing is intended to push two lead programs—Duchenne muscular dystrophy and autosomal dominant polycystic kidney disease—toward clinical evaluation. The company’s investor roster includes major pharma venture arms, including UCB, Bayer, Otsuka, and Johnson & Johnson. Complementing delivery innovation, Laekna’s licensing monetization and GSK’s Nuvalent acquisition both show how capital is flowing to delivery and targeting modalities that reduce efficacy and tolerability gaps. In the gene delivery category specifically, SonoThera’s raise reinforces investor appetite for non-viral approaches with scalable manufacturing and broader patient access potential.