Oblenio Bio, a Cambridge, MA-based developer of tri-specific T-cell engagers for autoimmune diseases, has raised $62 million in Series B funding led by Pfizer Ventures with participation from Deep Track Capital, GV, and founding investor Aditum Bio. The company is advancing LBL-051, a first-in-class CD19×BCMA×CD3 tri-specific T-cell engager designed to achieve broad immune reset in patients with severe, refractory autoimmune diseases. The capital will advance LBL-051 into clinical development.
Autoimmune TCE Space Heats Up
The timing comes amid heightened investor interest in T-cell engagers for autoimmune indications. Candid Therapeutics raised $370M Series A in September 2024 and was acquired by UCB for up to $2.2 billion in May 2026. CDR-Life secured a partnership with Boehringer Ingelheim worth up to $570 million total in November 2025. Oblenio's tri-specific approach targets both CD19 on B-cells and BCMA on plasma cells, addressing a gap left by single-target or bispecific competitors.
B-Cell Depletion Leaves Gaps
Autoimmune diseases affect over 25 million people in the US alone. Current therapies often require lifelong immunosuppression without achieving durable, drug-free remission. Single-target approaches miss long-lived plasma cells that continue producing pathogenic antibodies, limiting efficacy in refractory cases.
Tri-Specific Design Targets Full Lineage
Oblenio engineered LBL-051 using Leads Biolabs' LeadsBody platform to simultaneously engage CD19, BCMA, and CD3. Non-human primate data presented at EULAR 2026 showed complete depletion of B-cells and plasma cells without cytokine release syndrome, followed by emergence of immature non-memory B-cells upon recovery.
As CEO Samantha Truex noted:
"LBL-051 leverages these proven targeting mechanisms in a more favourable T-cell engager format that offers advantages over CAR-Ts, including convenience, favourable safety profile, and scalability."
This off-the-shelf antibody format contrasts with personalized CAR-T approaches from Kyverna Therapeutics and Cabaletta Bio.
Pfizer Ventures Signals Strategic Interest
Pfizer Ventures' lead investment brings regulatory expertise and potential partnership pathways. The round was oversubscribed, reflecting strong conviction in the immune reset thesis. Founding investor Aditum Bio, which has delivered exits such as Versanis Bio to Eli Lilly for up to $1.92 billion, provides operational support for the lean 2-10 person team.
Market Expands Beyond Suppression
The autoimmune treatment market stands at $160 billion in 2026 and is projected to reach $250.3 billion by 2033. The T-cell engager market is growing at 21.2% CAGR from $2.5 billion in 2025 to $18.8 billion by 2034. Major pharma validation through acquisitions and partnerships is accelerating capital into multi-specific antibody formats.
Oblenio's positioning as the only tri-specific TCE purpose-built for autoimmune disease positions it against bispecifics from Candid and Cullinan Therapeutics while offering scalability advantages over cell therapies.