Poplar Therapeutics bagged a $50-million series A on Wednesday to support development of PHB-050, its next-generation IgE depleter, currently in Phase I testing. The round was led by SR One, Vida Ventures and Platanus. Safety and pharmacokinetic data are expected to read out from the study in the second half of 2026. Following the financing, Poplar has a cash runway through mid-2027. The company's candidate was designed to help patients with diseases such as food allergy, allergic asthma and atopic dermatitis who lack effective treatment options, including those ineligible for first-generation IgE-targeting treatments like Xolair (omalizumab).CEO Chip Baird told FirstWord that a shortcoming of first-generation anti-IgE antibodies is that while they create an IgE-drug complex, they do not remove IgE from circulation."This mechanism can be adequate for smaller patients and patients with low levels of IgE. But for the millions of patients with higher IgE levels, first-generation approaches are not enough to create a clinical benefit," he explained. "PHB-050 is a next-gen approach engineered with a modified Fc which directs the IgE-drug complex to the liver where it is destroyed, with the goal of driving IgE levels toward zero. This approach has the potential to unlock the treatment of higher IgE patients and result in improved outcomes for millions of patients."Baird was tapped to lead Poplar in October 2025; he previously helmed 2seventy bio until it was acquired last March by Bristol Myers Squibb. The company was founded by healthcare investor Tony Yao.