Minnesota’s Vyriad closes $85 million Series B and plans trial for myeloma.

Vyriad Inc., based in Rochester, Minnesota, recently announced they had closed a final $25 million tranche of Series B financing, bringing their latest funding round to $85 million. The announcement added that the company aims to use the funds to advance the first-in-human testing of VV169, an in vivo CAR T–cell therapy candidate for relapsed or treatment‑refractory multiple myeloma.

The company, whose technology aims to deliver therapeutic genes directly into selected cells, said in the announcement that the round was led by Harry Stine of Stine Seed Farms alongside with participation from several family offices. Vyriad did not disclose other investors or provide valuation details in its announcement.

Vyriad characterizes VV169 as a single intravenous dose that combines an engineered CAR transgene targeting B‑cell maturation antigen (BCMA) with an optimized lentiviral delivery vector, LV‑169. The company says the candidate is designed to reprogram immune cells directly in the body, avoiding the ex vivo manufacturing step used in current CAR T therapies.

In a company statement, Vyriad asserted that its lentiviral platform uses engineered G proteins to increase target specificity and reduce immunogenicity while maintaining transduction efficiency. Vyriad also said it presented preclinical data at the ASH 2025 Annual Meeting which they claimed showed VV169 “completely eliminated disseminated multiple myeloma in all humanized mouse models, even at the lowest dose level.”

Vyriad said the new funding will support an imminent Phase 1, first‑in‑human study of VV169 in patients with relapsed or treatment‑refractory multiple myeloma, with clinical entry expected in 2026 according to a statement from Ed Kania, chairman of Vyriad’s board. The release did not provide a trial identifier, specific timelines, enrollment targets, or locations.

The company emphasized that its in vivo delivery approach could reduce the logistical and manufacturing complexity associated with currently approved CAR T therapies, which require harvesting a patient’s T cells, engineering them in a manufacturing facility, and then reinfusing them.

Vyriad noted existing partnerships with Regeneron Pharmaceuticals and Novartis and identified ongoing programs spanning oncolytic virotherapy, in vivo gene therapy, and gene‑editing applications. The firm was co-founded by Mayo Clinic‑affiliated clinician‑scientists and is privately held.

CAR T treatments have transformed outcomes for some blood cancers but remain complex and costly, in part because of individualized ex vivo manufacturing. Companies including Vyriad are pursuing in vivo approaches that would deliver CAR constructs directly into patients’ cells, potentially simplifying logistics. Such approaches face scientific hurdles, efficient, cell‑specific delivery in humans, avoiding off‑target effects, and managing immune responses, and require clinical proof of safety and durability.

Vyriad’s preclinical mouse data, as described in the release, are an early indicator of potential activity but do not yet predict human results. The company’s assertion of reduced immunogenicity and maintained transduction efficiency reflects preclinical optimization of viral vectors; although whether these advantages hold in clinical settings still remains to be seen.

For now, Vyriad’s announcement of fresh capital marks the company’s intent to move its lead in vivo CAR T candidate into human studies. The clinical results, expected to begin in 2026 per the company, will determine whether the approach can address the technical and practical challenges that have so far limited wider use of CAR T therapies.