Ethyreal launched with $101 million across venture rounds to develop a long-acting anti-TSHR monoclonal antibody, ETHY-001, for Graves’ disease and thyroid eye disease. The company disclosed preclinical data at the Endocrine Society meeting and said the funding is intended to push the program toward clinical readouts this year. The financing syndicate initially included Atlas Venture and Medicxi Ventures, followed by additional investors in a series A and series B. The launch highlights continuing investment appetite for long-acting biologics that can simplify chronic dosing regimens. Separately, Parabilis Medicines priced an upsized IPO that raised $745 million, supporting its peptide platform lead program zolucatetide for a rare tumor type. The IPO adds to evidence that investors are still funding entry-stage companies with focused, target-access strategies.