Pinnacle Medicines, a Pioneer of Oral Peptide Therapeutics, Announces Oversubscribed $89 Million Series B Financing to Advance Pipeline into Clinical Trials

• Financing co-led by LAV and Foresite Capital with participation from Quan Capital, Hankang Capital, RA Capital Management, Logos Capital and existing investors including OrbiMed
• Company has raised $134 million to date following incubation by OrbiMed and other healthcare specialist investors
• Proceeds will support advancement of oral peptide pipeline through clinical proof of concept

SHANGHAI and DOYLESTOWN, Pa., March 26, 2026 /PRNewswire/ -- Pinnacle Medicines ("Pinnacle" or "the Company"), a biotechnology company pioneering the development of oral peptide therapeutics using proprietary AI and physics-based platforms, today announced the closing of an oversubscribed $89 million Series B financing. The round was co-led by LAV and Foresite Capital, with participation from Quan Capital, Hankang Capital, RA Capital Management, Logos Capital and existing investors including OrbiMed.

Proceeds from the financing will support the advancement of Pinnacle's lead programs through clinical proof of concept, with an initial focus on immunology and cardiometabolic diseases, while further expanding the Company's proprietary peptide discovery platform and research and development capabilities. Pinnacle Medicines is developing a new generation of oral peptide medicines designed to deliver biologic-level safety and efficacy with the convenience of oral dosing.

"This financing marks an important milestone for Pinnacle Medicines and reflects strong conviction in the transformative potential of oral peptide therapeutics," said Jonathan Wang, Chief Executive Officer of Pinnacle Medicines. "At Pinnacle, we are building a platform designed to unlock the full therapeutic potential of peptides through oral delivery. With this strong group of investors, we are now focused on translating that vision into clinical proof of concept and delivering transformative medicines for patients."

Chengzao Sun, Ph.D., Chief Scientific Officer and Co-Founder, added: "We have assembled an experienced peptide drug discovery and development team spanning all key disciplines and built a proprietary platform that integrates emerging AI technologies with physics-based simulations to rationally design and optimize peptide therapeutics. The rapid progression of our pipeline reflects the strength of this approach and positions us to advance a new generation of oral peptide medicines for chronic diseases."

"We are very excited about the future of oral peptide therapeutics, and Pinnacle Medicines is emerging as a leader in this field," said Cindy Xiong, Partner at Foresite Capital. "The team brings deep experience in peptide drug development and has demonstrated a remarkable ability to rapidly build both a differentiated discovery platform and a promising first-in-class pipeline. We look forward to supporting the company as it accelerates these programs toward clinical development."

David Wang, M.D., Ph.D., Partner and Senior Managing Director at OrbiMed, added: "We have supported Pinnacle Medicines since inception and have been impressed by the team's scientific vision and execution. Oral peptide therapeutics have the potential to reshape treatment paradigms across multiple disease areas, and we are excited to continue supporting the company as it advances its pipeline toward clinical proof of concept."

About Pinnacle Medicines

Pinnacle Medicines is a biotechnology company focused on developing a new generation of oral peptide therapeutics designed to deliver biologic-level efficacy with the convenience of oral dosing. The company is building a differentiated discovery platform that integrates physics-based molecular simulations, artificial intelligence - enabled design, and advanced peptide chemistry to rationally design and optimize peptide medicines. Pinnacle is advancing a pipeline of potential first- and best-in-class oral peptide programs targeting validated pathways in immunology and cardiometabolic diseases.

For more information, please visit www.pinnaclemedicines.com.

About LAV

LAV is a global biomedical venture capital firm with offices in Hong Kong, Shanghai, and Palo Alto. Originating in 2008 as a corporate venture subsidiary of Eli Lilly, we spun off to become an independent investment management company in 2011. Our team of over 50 distinguished professionals, experienced in science, medicine, investment, and operations, embraces a culture of integrity, teamwork, diligence, and scientific rigor.

For more information, please visit www.lavfund.com.

About Foresite Capital

Foresite Capital is a multi-stage healthcare, sciences and technology investment firm with more than $3 billion in assets under management. The firm addresses areas of great unmet need by funding promising businesses at all stages of their life cycles. Founded in 2011, Foresite Capital is based in the San Francisco Bay Area, Los Angeles, and New York City.

For more information, please visit www.foresitecapital.com.

About OrbiMed

OrbiMed is a leading healthcare investment firm, with over $19 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, through private equity funds, public equity funds, and royalty/credit funds. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and extensive global team resources to help build world-class healthcare companies. OrbiMed's team of over 130 professionals is based in New York City, London, San Francisco, Shanghai, Hong Kong, Mumbai, Herzliya, and other key global markets.

For more information, please visit www.orbimed.com.

Corporate Contact

Yiou Chen
Pinnacle Medicines
[email protected]
215.267.8029

Media Contact

David Schull or Ignacio Guerrero-Ros, Ph.D.
Russo Partners
[email protected]
[email protected]
858.717.2310

SOURCE Pinnacle Medicines