Odyssey Therapeutics

Odyssey Therapeutics (Ticker: ODTX US) develops small-molecule and protein medicines for inflammatory and autoimmune diseases. Founded in 2021 by CEO Gary Glick, Odyssey Therapeutics is backed by a syndicate of more than 30 investors. Its lead program, OD-07656, is a RIPK2 inhibitor in Phase 2a development for ulcerative colitis. Other preclinical programs target IRAK4 and TNFR2. The offering consists entirely of primary shares, and net IPO proceeds are expected to go to the company. TPG may purchase up to an additional $25.00 million in a concurrent private placement.

The scheduled listing date on Nasdaq was May 8, 2026. The proposed offering comprises 13,240,000 shares at an indicative price range of $16.00–18.00 per share. At the indicative range midpoint, the base offering would represent $225.08 million in gross proceeds, excluding any unexercised over-allotment. The indicated IPO market capitalization is $765.00 million.

J.P. Morgan, TD Cowen and Cantor are bookrunners.