SixPeaks Bio AG, a Basel, Switzerland-based obesity company developing therapies for healthy weight loss, raised $110M in funding.
The company has secured $30M in Series A financing led by founding investor Versant Ventures and a strategic collaboration with AstraZeneca. Under the terms of the collaboration, AstraZeneca participated in the Series A financing and is committing up to $80M in capital including upfront and near-term payments.
The company intends to use the funds to expand operations and its R&D sector.
Led by CEO CEO Philip Larsen, SixPeaks is developing a pipeline of medicines for healthy weight loss. Its team leveraged internal biologics capabilities within Ridgeline to create an activin IIA/B receptor antibody for robust preservation of skeletal muscle mass in humans. The company also has conjugated its activin receptor IIA/B antibody with a GLP-1 peptide, thus creating a therapy with the potential to provide maximal GLP-1 agonist-mediated weight-loss while preserving muscle. This platform is being expanded to develop other incretin-based molecules for weight management and associated co-morbidities.
The company emerged from Versant Ventures’ Ridgeline Discovery Engine in the Basel Technology Park.
FinSMEs
22/05/2024