BioAge Labs Secures $170M Series D Financing to Advance Next-Gen Weight Loss Therapy in Collaboration with Eli Lilly

Feb 14, 2024 08:47 CST Updated 08:47

BioAge

Drug Discovery Platform Developer

Sofinnova Investments

Medical Technology Investment Firms

Longitude Capital

Venture Capital Firms

RA Capital

Life Sciences Venture Capital Firms

Cormorant Asset Management

Hedge Fund

RTW Investments

Biopharmaceutical Investment Institutions

SV Health Investors

Healthcare and Life Sciences Venture Capital Firms

OrbiMed

Healthcare Investment Institutions

Sands Capital

Venture Capital Firms

Pivotal bioVenture

Life Science Venture Capital Fund

Osage University Partners

Venture Capital Firms

Andreessen Horowitz Bio+Health

Venture Capital Firms

On February 13, BioAge Labs announced the completion of a $170 million Series D financing round, marking the largest private financing in the biotech industry so far in 2024. This California-based startup is fully committed to the highly sought-after weight loss field, aiming to develop a new generation of oral weight loss drugs while preserving muscle mass.

Sofinnova Investments led this Series D financing round, with participating institutions including Longitude Capital, RA Capital, Cormorant Asset Management, RTW Investments, SV Health Investors, OrbiMed Advisors, Sands Capital, Pivotal bioVenture Partners, Osage University Partners (OUP), and Andreessen Horowitz Bio + Health.

BioAge CEO Kristen Fortney in an interview with Endpoints", BioAge regarded this round of financing as a "crossover”Financing, while preparing for the IPO, will also evaluate the market to "see when it is most reasonable to go public." As the market recovers from two years of downturn, six biotech companies have gone public so far this year.

BioAge Labs, Inc., founded in 2015, is one of the leading companies in the anti-aging field and is currently advancing the potential "first-in-class" therapy BGE-1.05 (azelaprag) development. This drug was introduced from Amgen, although Amgen had previously attempted to developIt is used for the treatment of heart failure.

Azelaprag is an apelin receptor agonist. Apelin is a peptide that regulates metabolism and promotes muscle regeneration through its interactions with skeletal muscle, the heart, and the central nervous system. Results from earlier clinical trials showed that in healthy elderly individuals over 65 years old who required strict bed rest,azelaprag canSignificantly prevent muscle atrophy and maintain muscle protein synthesis.

The company has partnered with Eli Lilly to launch a Phase II clinical trial evaluating azThe Effect of Elaprag Combined with Low-Dose Tirzepatide (5mg) in the Treatment of Obesity. Participant recruitment will begin from the population aged 55 and above. The goal of this small-molecule drug is to help peopleLosing Weight Without Losing Muscle. This concern applies to tirzepatide and Novo NordiskThis is reflected in Wegovy. The new generation technology that reduces fat without losing muscle is expected to lead the next frontier, with analysts predicting its market will reach $100 billion.

Regeneron is also conducting similar research, as the company plans to evaluate the effects of its muscle-protective drug in combination with semaglutide. Meanwhile, last year, Eli Lilly acquired Versanis Bio, a subsidiary of Novartis, gaining access to a new drug, bimagrumab, which has now entered Phase III clinical trials for obesity treatment in combination with tirzepatide.

Fortney said,azelapragPhase II results are expected by the end of 2025 at the latest. She added that considering the size of the target population, the 60-employee biotech company might collaborate with a pharmaceutical company possessing incretins for obesity in later-stage testing. BioAge will also explore azelaprag's potential in diabetes and heart disease.

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