Step Pharma closed a €38 million Series C to advance its CTPS1 inhibitor dencatistat across multiple hematologic and solid tumor studies, financing trials across lymphomas and solid tumors and supporting expansion of its 'pipeline‑in‑a‑product' strategy. Investors backed the round to accelerate phase II initiations and broaden dose‑finding programs. Cyclana Bio closed a £5 million pre‑seed round to fund tissue‑level disease modelling and target discovery in women's health, initially focusing on endometriosis using menstrual‑fluid derived tissue models. The early capital highlights investor interest in tissue‑based platforms addressing historically underfunded indications and shows venture capital concentrating bets on differentiated biology and platform approaches.