Barinthus Biotherapeutics is a clinical-stage biopharmaceutical company developing immunotherapies for autoimmune and inflammatory diseases, with no approved products and no commercial revenue. Barinthus Bio's lead platform, SNAP-TI, uses synthetic nanoparticles to deliver antigen-specific immune tolerance (ASIT) therapies — treatments designed to retrain the immune system to stop attacking healthy tissue, rather than broadly suppressing it as current standard-of-care drugs do. The lead SNAP-TI program, VTP-1000, targets celiac disease and is in a Phase 1 trial called AVALON; multiple ascending dose data, including a gluten challenge, are expected in H2 2026. Barinthus Bio also has a legacy hepatitis B immunotherapy, VTP-300, built on a viral vector platform originally developed at the Jenner Institute at Oxford, where the company was spun out in 2016. Following a January 2025 restructuring that cut headcount by roughly 65% and closed the U.K. site, Barinthus Bio deprioritized VTP-300 and its other viral vector assets and is actively seeking partners to advance them. The company funds operations through equity raises, with a cash runway extended into 2027 by the restructuring. In September 2025, Barinthus Bio agreed to merge with Clywedog, a private diabetes-focused company; the combined entity, to be renamed Clywedog Therapeutics Holdings, is expected to close in Q2 2026 and trade on Nasdaq under the ticker "CLYD," broadening the pipeline into metabolic disease.