OMass Therapeutics Raises $310M Series C to Advance Phase 2 Endocrine Trials

Oxford-based drug developer OMass Therapeutics announced a $310M Series C financing round on Wednesday, making it the second-largest European biotech raise of 2026 behind Alphabet-founded Isomorphic Labs' $2.1B Series B. The round was co-led by Bain Capital Life Sciences, Forbion, and Novo Holdings, with participation from GV, Janus Henderson Investors, SV Health Investors, Jefferson Life Sciences, Syncona, Sanofi Ventures, the British Business Bank, and the University of Oxford. OMass will use the capital to advance its lead candidate, OMS1620, an MC2 receptor antagonist currently in the single-ascending dose stage of a Phase 1 trial, into Phase 2 development for congenital adrenal hyperplasia (CAH) and ACTH-dependent Cushing's syndrome. The company is also developing a preclinical SLC15A4 inhibitor targeting lupus and interferon-driven autoimmune diseases, building on University of Oxford research from Professor Carol Robinson's lab that previously led to a $20M upfront licensing deal with Genentech in 2025 for an inflammatory bowel disease program. OMass plans to expand its clinical development team across the UK and US as it enters multi-geography Phase 2 trials, with CEO Ros Deegan stating the company has no immediate IPO plans while funded to deliver clinical readouts. "We have the capital now, so we’re not … thinking about any other kind of strategic moment." — Ros Deegan, CEO of OMass Therapeutics.