Financing led by Forbion, joined by Sanofi and existing investors Medicxi, Pitango, and Atlantic Partners
- Proceeds to advance vapendavir, a first-in-class therapeutic for the treatment of rhinovirus, the predominant cause of respiratory exacerbations in millions with COPD and other chronic lung diseases
- Funds will allow initiation of the Phase 2b CARDINAL study evaluating the safety and efficacy of vapendavir in participants with COPD and rhinovirus infection in Q2 2026
Naarden, The Netherlands, Boston USA, 19 February 2026 - Forbion, a leading life sciences venture capital firm with deep roots in Europe, today announces that it has led an oversubscribed $75 Million Series B financing in Altesa BioSciences, a clinical-stage pharmaceutical company dedicated to improving the lives of people with chronic lung diseases including COPD and asthma. The round also included participation from Sanofi, alongside existing investors Medicxi, Pitango, and Atlantic Partners.
“There is nothing ‘common’ about the common cold for people with chronic lung disease,” said Altesa CEO Brett P. Giroir, M.D., former Assistant Secretary of Health and Acting FDA Commissioner. “This financing supports advancing clinical development of vapendavir for the treatment of rhinovirus infections, the leading cause of respiratory exacerbations in COPD and other chronic lung conditions. Vapendavir targets the cause of inflammation and exacerbations – the virus itself.”
The current Series B financing will support the CARDINAL study, a Phase 2b multinational randomized placebo-controlled trial that will enroll 900 COPD patients in the US and UK, following them and randomizing when they experience a rhinovirus infection. Dr. Katharine Knobil, Chief Medical Officer (CMO) of Altesa, and former CMO of GSK, will lead the investigation, expected to commence in Q2 2026. The CARDINAL study builds on Altesa’s recently completed rhinovirus Challenge Study in COPD patients, in which vapendavir improved upper and lower airway symptoms, reduced illness durations and inflammatory markers, and better maintained small airways lung function compared to placebo.
"Our trial’s objective is to demonstrate that treatment of rhinovirus respiratory infections can improve symptoms, hasten resolution of illness, and maintain quality of life, while potentially avoiding advanced medical interventions,” said Dr. Knobil. “For many COPD patients, even a simple cold can lead to an exacerbation, hospitalization, and worsening quality of life – vapendavir has the potential to change that trajectory.”
While the immediate focus is on COPD, vapendavir has potential for broader application in other high-risk respiratory populations, including people with asthma.
“We are honored to have Forbion as our lead investor, a global leader with an unmatched track record for developing companies and products across multiple therapeutic areas. In addition, Altesa will benefit greatly from the participation of Sanofi, given its ongoing expertise in COPD therapeutics” said Dr. Giroir. “By focusing on the true medical need – patients most at risk for hospitalization, death, and long-term decline – we hope to radically improve outcomes and reduce overall healthcare burden.”
Rhinovirus-driven exacerbations represent one of the most significant and underserved drivers of morbidity in COPD and other chronic lung diseases. Altesa’s vapendavir is a first-in-class approach that targets the underlying viral cause of these events, with the potential to meaningfully improve outcomes and reduce healthcare burden for millions of patients. We are proud to lead this financing and support the world class team Altesa has assembled as they advance vapendavir into the Phase 2b CARDINAL study.”
Jon Edwards, PhD
Partner, Forbion
In connection with the financing Jon Edwards, Ph.D., will join the board and Moncef Slaoui, Ph.D., will transition from Board Member to Chair of Altesa’s Board of Directors, strengthening the company’s leadership as it advances vapendavir into late-stage clinical development.
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About Vapendavir
Vapendavir is an oral medicine in development by Altesa BioSciences. Recently, Altesa announced that vapendavir improved symptoms, reduced duration of illness and viral load, and maintained small airway function in COPD patients experimentally challenged with rhinovirus. Vapendavir is now in late-stage clinical development, and if approved, has the potential to prevent up to 50% of COPD exacerbations, improve quality of life, and potentially save significant healthcare costs.
About the CARDINAL Study
The CARDINAL clinical trial is a Phase 2b multinational randomized placebo-controlled study in COPD patients experiencing rhinovirus infections that will enroll 900 people with COPD in the US and UK. The trial was designed to reflect real-world care models, proactively identifying and supporting those at greatest risk. Participants will be closely monitored over time and, upon development of rhinovirus infection, will be randomized to receive one of two doses of vapendavir or placebo. The trial’s primary objective is to assess improvement in respiratory symptoms using established patient-reported outcomes, with additional endpoints evaluating time to symptom resolution, quality of life, healthcare resource utilization, and lung function.
About Altesa BioSciences, Inc.
Altesa BioSciences is a clinical-stage pharmaceutical company, led by global experts in respiratory medicine and infectious diseases. We are dedicated to improving the lives of people with chronic lung diseases, like COPD and asthma, by treating the principal cause of exacerbations and pathological inflammation – viral respiratory infections. In addition to advancing vapendavir, our lead medicine, we advocate for improved access to modern respiratory diagnostics and therapeutics in underserved communities. www.altesa.com
About Forbion
Forbion is a leading global venture capital firm with deep roots in Europe and offices in Naarden, the Netherlands, Munich, Germany, and Boston, USA. Forbion invests in innovative biotech companies, managing approximately €5 billion across multiple fund strategies covering all stages of (bio)pharmaceutical drug development. In addition to its human health focus, Forbion also invests in planetary health solutions through its BioEconomy strategy. The firm’s team of over 30 investment professionals has a strong track record, with more than 130 investments across 11 funds, resulting in numerous approved therapies and successful exits. Forbion is a signatory to the UN Principles for Responsible Investment and operates a joint venture with BGV for seed and early-stage investments in Europe.
