Odyssey Therapeutics raised $279M in an upsized IPO on its second attempt, as reported May 7-8, 2026.
Biotech funding has plummeted due to Trump administration policies targeting drug research agencies, with public markets down 62% and VC down 12% vs. 2024.
Monthly VC funding averaged $1.9B in 2025 per Jefferies analysts.
No direct quotes from Odyssey CEO on 'permanent' biotech in available results, but IPO success highlighted amid industry downturn.