Versanis Bio, an Oakland, Calif.-based company established to discover and develop first-in-class medicines that address medical conditions prevalent in older adults, closed a $70m Series A financing.
The round was co-led by Atlas Venture and Medicxi with participation from Aditum Bio.
The company intends to use the funds to advance a comprehensive phase 2 clinical program to evaluate the potential of bimagrumab to help obese patients lose fat and achieve an improved body composition.
Led by Dr. Lloyd Klickstein, CEO, Versanis Bio is advancing bimagrumab, a human monoclonal antibody to the activin type II receptors that blocks the binding of ligands including activin A and myostatin. Bimagrumab has been studied by Novartis in more than a dozen controlled clinical trials that enrolled more than 1,500 people. Across key studies bimagrumab treatment consistently and potently induced significant loss of fat mass without loss of lean mass, and additionally improved HbA1c and other cardiometabolic parameters.