OrsoBio Secures $60 Million Series A Financing Led by Longitude Capital and Enavate Sciences with Participation from Eli Lilly to Advance Novel Therapies for Obesity and Metabolic Disorders

Nov 11, 2023 09:09 CST Updated 09:09

OrsoBio

Developer of Severe Metabolic Disease Therapies

Longitude Capital

Venture Capital Firms

Enavate Sciences

Venture Capital Firms

Samsara BioCapital

Venture Capital Firms

NuevaBio

Venture Capital Firms

Eli Lilly

Global Pharmaceutical R&D and Production Company

Recently, in California,OrsoBio, a clinical-stage biopharmaceutical company developing treatments for severe metabolic disorders, announced the completion of$60 Million Series A Financing, bringing the total capital raised by the company to $97 million. The financing will support the development of the company's obesity-focused product portfolio, led jointly by Longitude Capital and Envate Sciences. Existing investors Samsara BioCapital and the founder's affiliate NuevaBio, as well as new investor Eli Lilly and Company, also participated in this round of financing.

Obesity is a global health crisis, affecting more than 40% of American adults and leading to a series of complications, including diabetes, NASH, cardiovascular diseases, and certain cancers. OrsoBio will use the Series A funding to advance the development of its innovative portfolio of four projects, with a focus on obesity and related metabolic disorders. The company’s pipeline includes a mitochondrial prokaryotic protein combination (licensed from Gilead and Yale University), an ACC2 inhibitor (acquired from Shionogi), and an LXR reverse agonist.（From Phenex PharmaceuticalsPurchase）And ACMSD inhibitors (amino carboxymuconate semialdehyde decarboxylase inhibitors, acquired from Astellas).

OrsoBio Chief Executive Officer and Founder, M.D. Mani Subramanian, stated:"We are delighted to welcome our new investors and appreciate the continued support from existing investors. We are grateful for the ongoing trust in our team and the commitment to our mission of improving clinical outcomes for patients with obesity and related metabolic disorders. This financing represents a significant milestone for OrsoBio, enabling us to advance a first-in-class portfolio of compounds targeting fundamental aspects of energy metabolism toward critical clinical milestones."

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