Overview and Highlights
December 2025 concluded with continued investment in key precision medicine modalities. Public market activity included Kymera, Immunovant, and Dyne, which collectively raised over $1.5 billion to support targeted protein degradation, immunology, and genetic therapies. In the private sector, capital supported platform versatility, with Series B rounds for Triana Biomedicines (molecular glues), Protego Biopharma (pharmacological chaperones), and SanegeneBio (RNAi).
Additionally, the intersection of genomics and AI was highlighted by Illumina’s strategic investment in Myome, suggesting ongoing efforts to integrate whole-genome sequencing (WGS) into standard-of-care screening.
Below are the key deals that defined the precision medicine landscape in December 2025.
Mergers & Acquisitions
Diagnostica Stago – Majority Stake Sale to ARCHIMED & CDPQ
Specialist investor ARCHIMED secures majority control of hemostasis leader to accelerate global precision diagnostics expansion. Hemostasis diagnostics leader Diagnostica Stago entered into exclusive negotiations to sell a majority stake to healthcare private equity specialist ARCHIMED, with CDPQ investing as a minority partner. The transaction, expected to close in 2026, is designed to accelerate the global adoption of Stago’s coagulation franchise. This includes next-generation platforms like ST Genesia and Quantra, which enable personalized anticoagulation and bleeding management—critical components of precision hematology.
Strategic Partnerships and Licensing
Illumina & Myome – Strategic Collaboration & Investment
Illumina backs Myome to prove the health-economic value of WGS combined with AI-driven polygenic risk scores. Illumina (NASDAQ: ILMN) announced a strategic collaboration and investment in Myome to advance the Myome Proactive Health (MPH) Trial. This large-scale prospective study aims to validate the clinical utility and cost-effectiveness of combining Whole Genome Sequencing (WGS) with Myome’s AI-integrated Integrated Risk Models (IRMs). By generating ancestry-relevant polygenic risk scores for cardiovascular, metabolic, and oncologic conditions, the partnership seeks to shift the precision medicine paradigm from reactive diagnosis to proactive prevention, potentially saving the U.S. healthcare system up to $200 billion annually.
Public Markets & IPOs
Kymera Therapeutics (NASDAQ: KYMR) – $602M Upsized Public Offering
Targeted protein degradation leader strengthens balance sheet following clinical wins. Following positive clinical data, Kymera executed an upsized $602M public offering. The proceeds will fund a broad pipeline of degraders across immunology and oncology, reinforcing the company's leadership in removing disease-causing proteins that are currently untreatable with standard inhibition.
Immunovant (NASDAQ: IMVT) – $550M Common Stock Financing
Capital raise fuels late-stage development of FcRn inhibitor for autoimmune diseases. Immunovant priced a $550M offering to support the commercialization of IMVT-1402, a next-generation anti-FcRn antibody. With parent company Roivant participating, the funding targets a range of autoantibody-driven conditions (such as Graves’ disease), where biomarker-driven patient selection is becoming increasingly critical.
Dyne Therapeutics (NASDAQ: DYN) – ~$400M Upsized Public Offering
Oligonucleotide muscle disease specialist extends runway into 2028. Dyne Therapeutics raised approximately $400M to advance its genetic-targeted oligonucleotide therapies for Myotonic Dystrophy Type 1 (DM1) and FSHD. The financing ensures the company can aggressively pursue registrational endpoints for these genetically defined muscle disorders.
Denali Therapeutics (NASDAQ: DNLI) – Up to $275M Synthetic Royalty Deal
Royalty Pharma backs BBB-crossing enzyme replacement therapy. Denali Therapeutics secured up to $275M in synthetic royalty funding from Royalty Pharma tied to tividenofusp alfa, its Blood-Brain Barrier (BBB) crossing therapy for Hunter Syndrome (MPS II). The deal provides non-dilutive capital to support Denali’s broader Transport Vehicle (TV) platform, which engineers biologics to actively cross the BBB for precision neurology indications.
Venture Capital
Protego Biopharma – $130M Series B
Oversubscribed round funds pivotal development of precision chaperones for AL Amyloidosis. Protego Biopharma secured an oversubscribed $130M Series B to fund the pivotal development of PROT-001, a first-in-class pharmacological chaperone for light-chain (AL) amyloidosis. By targeting the underlying protein misfolding etiology directly, Protego is advancing a precision approach grounded in human genetics to correct misfolded immunoglobulin light chains and restore proteostasis.
Triana Biomedicines – $120M Series B
Molecular glue pipeline expands with funding for ALK+ NSCLC degrader. Triana Biomedicines raised $120M to advance its "target-first" molecular glue discovery engine. The capital supports the clinical proof-of-concept for lead candidate TRI-611, a degrader specifically designed for ALK-positive non-small cell lung cancer (NSCLC). The financing, led by Ascenta Capital and Bessemer Venture Partners, validates the shift toward using degraders to tackle oncogenic drivers in genomically defined patient subsets.
RNAi platform scales across extra-hepatic indications with massive syndicate support. SanegeneBio closed a Series B financing exceeding $110M to expand its LEAD™ (Ligand and Enhancer Assisted Delivery) RNAi platform. Backed by Invus, Qiming, and others, the funding will drive registrational-stage programs in autoimmune, cardiovascular, and metabolic diseases, positioning RNA interference as a scalable, precision modality capable of reaching tissues beyond the liver.
Addition Therapeutics – $100M Total Financing
Stealth spin-out emerges with RNA-mediated genomic insertion platform. UC Berkeley spin-out Addition Therapeutics emerged from stealth with $100M in total financing to develop PRINT (Precise RNA-Mediated Insertion of Transgenes). This non-viral, all-RNA platform utilizes lipid nanoparticles to insert therapeutic genes into defined genomic "safe harbors." The technology promises durable, redosable genomic medicines for HIV and other rare diseases, overcoming the immunogenicity and cargo limitations of viral vectors.
Syneron Bio – ~$100M Series A & A+
Macrocyclic peptide platform targets "undruggable" intracellular proteins. Syneron Bio raised nearly $100M across Series A and A+ rounds, co-led by AstraZeneca’s China joint fund and Pfizer Ventures. The capital scales the Synova™ platform, which designs highly selective macrocyclic peptides capable of engaging intracellular targets typically inaccessible to small molecules or antibodies, expanding the precision therapeutics toolkit for oncology and chronic diseases.
Link Cell Therapies – $60M Series A
Logic-gated CAR-T therapies launch to solve solid tumor toxicity. Link Cell Therapies launched with $60M to develop next-generation logic-gated CAR-T therapies. Their lead candidate, LNK001 for renal cell carcinoma, utilizes multi-antigen sensing circuits to activate T-cells only in the presence of specific tumor signatures. This "AND" gate logic aims to maximize tumor eradication while sparing healthy tissue, addressing the key safety bottlenecks in solid tumor cell therapy.
Aeovian Pharmaceuticals – $55M Series B
Selective mTORC1 inhibitors target genetic epilepsy and aging pathways. Aeovian Pharmaceuticals raised $55M to advance AV078, a CNS-penetrant, selective mTORC1 inhibitor for tuberous sclerosis complex (TSC)-related refractory epilepsy. By precisely targeting the hyperactive signaling caused by TSC1/2 mutations, Aeovian is moving beyond broad immunosuppression to mechanism-based precision neurology.
Optical chips aim to democratize long-read sequencing. Daisy Genomics closed a $2.5M Seed round led by Cottonwood Technology Fund to develop a proprietary optical long-read sequencing platform. Utilizing novel spectroscopy chips, the technology aims to deliver high-fidelity long-read data with simplified workflows, lowering the barrier to entry for complex genomic diagnostics in oncology and hereditary disease.
.png)
