Unnatural Products closed a $45 million Series B to accelerate its macrocyclic peptide platform and advance lead programs toward clinical trials. The round was led by The Venture Collective with participation from argenx, Merck Global Health Innovation Fund, and others. UNP said it will use proceeds to scale platform capabilities, expand pipeline programs across cardiometabolic, inflammatory and immunological indications, and progress assets that benefit from a recent licensing deal with Novartis. Management positioned the funding as capital to transition discovery-stage macrocycles into development candidates with potential oral or cell-permeable properties.