Chinese COPD Drug Expedition Therapeutics Secures $115 Million Series B

Expedition Therapeutics has announced a successful fundraising round to advance its experimental treatment for chronic obstructive pulmonary disease. The biotechnology firm raised $115 million in a Series B investment, bringing the total capital it has secured since inception to nearly $300 million. This funding will support the progression of the drug through mid-stage clinical testing phases.

The company was established with a specific strategy to license promising assets from Chinese pharmaceutical partners and develop them for Western markets. The current project involves EXPD-101, which is known as XH-S004 in China where it was originally developed by Fosun Pharma. Under the terms of their agreement, Expedition holds rights to commercialise this medicine across most of the globe.

The drug targets an enzyme called DPP1, which plays a key role in activating neutrophils, a specific type of white blood cell involved in immune response. While these cells are essential for fighting infection, they can cause significant lung inflammation when overstimulated. By inhibiting this activity with medication, the treatment aims to address the root causes of respiratory distress without compromising the body’s ability to fight pathogens.

This therapeutic approach has attracted considerable interest from other major pharmaceutical entities in recent years. Insmed previously licensed a similar DPP1-targeting compound and is now marketing it as Brinsupri for bronchiectasis, with expectations that it will become a blockbuster product. Other companies including Boehringer Ingelheim, Chiesi, Haisco Pharmaceutical, Regeneron Pharmaceuticals, Sanofi, GSK and Verona Pharma are also pursuing clinical trials or have approved therapies for COPD patients since 2024.

Yi Larson, the chief executive officer of Expedition, highlighted that her company’s approach offers a distinct advantage over existing injectable treatments or inhalers. She noted that EXPD-101 is designed as a once-daily oral pill capable of addressing neutrophilic inflammation in all COPD patients rather than just specific subgroups treated by biologics. Larson described the potential for this medication to become a foundational element of care for individuals suffering from one of the world’s most common inflammatory lung diseases.

The company has recently commenced recruitment for what it claims is the first global Phase 2 trial of a DPP1 inhibitor specifically for COPD patients. Preliminary data regarding the efficacy and safety of the drug are expected to be available by 2028 according to federal records.

General Atlantic led this latest investment round, joining forces with numerous new and existing investors including Vivo Capital, RA Capital Management, Forbion, Sofinnova Investments, Novo Holdings and Venrock. Brett Zbar, a managing director at General Atlantic, will join the company’s board of directors following the transaction. The firm has previously supported other high-profile biotechnology ventures such as Akero Therapeutics which was acquired by Novo Nordisk in 2025.

Larson brings extensive industry experience to her current role having transitioned from investment banking at Goldman Sachs to executive leadership positions. She formerly held roles or board seats with Turning Point Therapeutics and RayzeBio, both of which were subsequently acquired by Bristol Myers Squibb.