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Biotech Briefs: Pathos AI, Star Therapeutics, Aspen Neuroscience & More 

The latest from small and Emerging Pharma companies featuring Pathos AI, Star Therapeutics, Aspen Neuroscience, and Bambusa Therapeutics. 

For news on the large and mid-sized bio/pharmaceutical companies, see Global Briefs. 

* Pathos AI Raises $237 M Led by BMS To Support Oncology Pipeline, AI Platform
* Star Therapeutics Raises $200 M To Support Therapeutic Pipeline
* Aspen Neuroscience Files IPO To Raise Up to $159 M for Cell Therapy for Parkinson’s
* Bambusa Files IPO for Bispecific Antibody to Treat Atopic Dermatitis

Pathos AI Raises $237 M Led by BMS To Support Oncology Pipeline, AI Platform 
Pathos AI, a Chicago, Illinois-based AI and technology company advancing its own therapeutic pipeline of drugs, has raised $237 million in Series E financing. The financing was led by Bristol Myers Squibb (BMS), alongside participation from existing investors. 

Proceeds from the financing will be used to scale Pathos’ proprietary AI platform for drug development, Foundry, and to advance its pipeline, which includes four clinical assets: JSKN016, a bispecific antibody-drug conjugate advancing toward registrational studies; pocenbrodib in metastatic castration-resistant prostate cancer and relapsed/refractory multiple myeloma; AZD4241, a protein degrader in which Pathos is partnered with AstraZeneca, and DO-2, a MET kinase inhibitor. Pathos’ Foundry platform operates via specialized AI agents that aggregate clinical data, genomics, biological specimen data, and the competitive landscape in real-time to identify the optimal next decision for a clinical program 

Separately, Pathos AI has formed a multi-year strategic collaboration with BMS and Tempus AI, a technology company applying AI and multimodal data in development of precision medicines, to build a specialized, curated dataset and agentic AI capabilities for Alzheimer’s disease and other neurological conditions.  

Tempus will create a comprehensive, de-identified, longitudinal dataset from hundreds of thousands of patients with neurological conditions, designed to track outcomes over time and accelerate biological insight. Pathos will license the data from Tempus under a five-year, $55-million agreement. Pathos will apply its AI platform, Pathos Foundry, to interrogate the dataset at scale, generate and test hypotheses on disease biology, and inform the design of more targeted, adaptive clinical trials. 

Source: Pathos AI (financing) & Pathos AI (agreements) 

Star Therapeutics Raises $200 M To Support Therapeutic Pipeline 
Star Therapeutics, a South San Francisco, California-based bio/pharmaceutical company, has raised $200 million in private financing. Star Therapeutics’ team has invented four antibody therapies, including its first approved drug, Enjaymo (sutimlimab-jome) for treating hemolysis (destruction of red blood cells) in adult patients with cold agglutinin disease, a rare type of autoimmune hemolytic anemia, and three other therapies that are each in Phase III development. Proceeds will support Star’s advancing its preclinical and clinical programs. 

In July 2026, Incyte completed the acquisition of Star’s wholly owned subsidiary, Vega Therapeutics, in a transaction valued at up to $2 billion, which included Star’s lead program latarcibart, a monoclonal antibody in Phase III development for von Willebrand disease, a bleeding disorder.  Additionally, in September 2026, Star’s spinout company, Electra Therapeutics, became a publicly traded company. 

Source: Star Therapeutics 

Aspen Neuroscience Files IPO To Raise Up to $159 M for Cell Therapy for Parkinson’s 
Aspen Neuroscience, a San Diego, California-based clinical-stage bio/pharmaceutical company focused on developing treatments for neurodegenerative disease, is seeking to raise up to $159 million through an initial public offering (IPO) in the US through selling 9.375 million shares of common stock at a target price between $15 ⁠and $17 per share. 

The company’s lead product candidate is sasineprocel, an investigational single-dose, autologous induced-pluripotent stem cell based cell therapy being evaluated for the treatment of Parkinson’s disease, in a Phase I/IIa development.  

Source: Aspen Neuroscience 

Bambusa Files IPO for Bispecific Antibody to Treat Atopic Dermatitis  
Bambusa Therapeutics, a Boston-based clinical stage bio/pharmaceutical company developing bispecific antibodies to treat diseases in immunology and inflammation, has filed an initial public offering (IPO) in the US to raise up to $159 million in gross proceeds through offering 9,375,000 shares of stock at $15.00 to $17.00 per share. Its lead clinical asset, BBT001 is a long-acting bispecific antibody for treating core Type 2 inflammation and chronic itch, two results of atopic dermatitis (eczema) and other inflammatory skin diseases. 

Source: Bambusa Therapeutics