There’s another startup aiming to develop a drug to revolutionize weight loss.
What’s happening:
- California based biotechnology startup BioAge Labs has raised $170M USD in a new Series D financing round
- The round was led by Soffinova Investments and saw other notable participants including the venture arms of pharmaceutical companies Amgen and Eli Lilly
The big idea:
- BioAge Labs is developing a new type of weight loss drug that mimics the behaviour of a molecule that is typically naturally stimulated through exercise
- One of the differentiators from other weight loss drugs currently in clinical development is BioAge Labs is aiming for their therapeutic to be able to help individuals lose weight while still preserving muscle mass
- BioAge Lab’s lead compound Azelaprag has already seen early clinical validation for improving metabolic and muscle function
Why it matters:
- There has a been a flurry of recent deals and new venture capital backing for novel obesity related therapeutics from both pharmaceutical giants and Silicon Valley based funds
Going deeper:
- Legendary venture capital fund a16z is one of the earliest backers of BioAge Labs
- BioAge Labs and Eli Lilly will collaborate on advancing their novel drug into a Phase II clinical trial in humans
