Odyssey Therapeutics
The business, the turning points, and the decisions behind them.
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Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Odyssey Therapeutics is a Boston-based clinical-stage biotech focused on autoimmune and inflammatory diseases, founded and led by Gary Glick, Ph.D. Its pipeline is led by a RIPK2 inhibitor (OD-07656/OD-001) being readied for phase 2 trials for ulcerative colitis as a monotherapy and in combination with Takeda's Entyvio. It built its assets and capabilities through deals — buying Rahko for machine learning and IFM Discovery (a subsidiary of IFM Therapeutics, also founded by Glick) for MDA5 and NLRP1 discovery programs — and through Big Pharma partnerships, including $6.5 million from Johnson & Johnson for AI-driven small-molecule discovery and $1 million from Pfizer for natural-product hit finding. In September 2025 it closed a $213 million Series D, and after withdrawing a January 2025 IPO attempt, it went public on Nasdaq in May 2026 (ticker ODTX), raising around $279–304 million in an upsized IPO and concurrent private placement. No shutdown, bankruptcy, or acquisition has been publicly documented.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- IPO withdrawn
In January 2025, Odyssey filed for an IPO but withdrew its registration statement, saying the offering was not in the company's best interests at the time.
- Raised $213M Series D
In September 2025, Odyssey closed a $213 million Series D to finance clinical proof-of-concept studies and its discovery pipeline.
- Nasdaq IPO
In May 2026, Odyssey went public on Nasdaq (ticker ODTX), raising around $279-304 million in an upsized IPO and concurrent private placement.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
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