Vyriad Closes $85M Series B to Advance In Vivo CAR‑T Therapy for Multiple Myeloma
Vyriad, a clinical‑stage biotechnology company based in Rochester, Minnesota, has secured substantial funding to advance its pipeline of targeted genetic therapies, including a novel in vivo CAR‑T cell therapy candidate designed for patients with relapsed or treatment‑refractory multiple myeloma. In late 2025, the company announced the closing of its final $25 million tranche of its Series B financing, bringing the total raised in the round to $85 million. This additional financing will support the imminent first‑in‑human testing of VV169, Vyriad’s in vivo CAR‑T therapy candidate, as it moves toward clinical entry expected in 2026.
Vyriad’s Series B round has been dominated by participation from influential individual and institutional backers. The latest tranche was led by investor Mr. Harry Stine of Stine Seed Farms, Inc., known for his success in agricultural genetics and seed innovation, and includes participation from several family offices, highlighting confidence in Vyriad’s innovative gene delivery platform and therapeutic focus.
Over the years, Vyriad has attracted a diverse group of strategic and long‑standing investors that have supported its growth and technological advancement. Previous funding rounds for the company included capital from biotech and venture partners such as Regeneron Pharmaceuticals, Inc., a leading biopharmaceutical company with a broad portfolio of immuno‑oncology products; Mayo Clinic Ventures, the commercialization arm of Mayo Clinic focused on translating medical innovations into patient‑impacting solutions; Mirae Asset Venture Investment Co., Ltd., a global investment firm with a focus on innovation; and Southeast Minnesota Capital Fund LLC, which supports regional biotech growth.
Vyriad’s funding success is deeply tied to its scientific strategy and collaboration network. The company was co‑founded by Mayo Clinic clinician‑scientists Dr. Stephen Russell and Dr. Kah‑Whye Peng to translate breakthroughs in gene and viral therapy research into clinical‑stage assets. Its research and development efforts leverage engineered viruses, viral vectors, and viral envelope glycoproteins to deliver therapeutic genes directly to targeted cells, enabling therapies that aim to improve safety, specificity, and efficacy in treating serious diseases such as cancer.
In addition to its own capital raises, Vyriad has formed strategic collaborations that augment its scientific and commercial prospects. A long‑standing research partnership with Regeneron Pharmaceuticals, Inc. has enabled co‑development of oncolytic virotherapies, including Voyager‑V1, a vesicular stomatitis virus (VSV)‑based oncolytic candidate evaluated across multiple cancer types, both as a monotherapy and in combination with other agents. More recently, Vyriad entered a strategic collaboration with Novartis to explore and develop in vivo CAR‑T therapies, combining Vyriad’s lentiviral vector platform with Novartis’ expertise in cell therapy innovation. These partnerships not only validate the scientific promise of Vyriad’s platforms but also expand the company’s reach in cutting‑edge therapeutic modalities.
The $85 million Series B funding represents more than just a capital milestone—it signals confidence in Vyriad’s ability to transition complex gene and cell therapy modalities from concept to clinic. Funds from this round are specifically earmarked to accelerate the clinical development of VV169, an in vivo CAR‑T candidate that aims to reprogram immune cells within the patient’s body, bypassing the complex and costly ex vivo manufacturing steps typical of traditional CAR‑T therapies. This could offer a more scalable and accessible route to powerful immunotherapies if clinical trials demonstrate safety and efficacy in human patients.
Vyriad’s broader mission encompasses several therapeutic areas, including oncolytic virotherapy, in vivo gene therapy, and gene editing applications, with multiple Phase 1–2 trials underway or planned across cancer indications. The company’s development programs are designed to harness engineered viral platforms to selectively target and destroy cancer cells, stimulate anti‑tumor immune responses, and deliver targeted genetic payloads that can alter disease biology.
As Vyriad prepares for its next chapter of clinical advancement, the strong backing of seasoned investors and strategic partners positions the company to play a meaningful role in the evolving fields of cancer immunotherapy and genetic medicine. The successful close of its expanded Series B round marks a pivotal moment not only for Vyriad but also for the biotechnology sector’s broader efforts to innovate in targeted genetic therapies.
