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May 23, 2024
1 min read

SixPeaks Bio Secures $110M Investment for Innovative Biotech Solutions

TLDR:

  • SixPeaks Bio, a Switzerland-based obesity company, raised $110M in funding.
  • The funding includes $30M in Series A financing from Versant Ventures and a collaboration with AstraZeneca.

SixPeaks Bio, a Basel, Switzerland-based obesity company, has secured $110M in funding to develop therapies for healthy weight loss. The funding includes $30M in Series A financing led by founding investor Versant Ventures, along with a strategic collaboration with AstraZeneca. Under this collaboration, AstraZeneca participated in the Series A financing and has committed to providing up to $80M in capital, including upfront and near-term payments.

The company, led by CEO Philip Larsen, is focused on developing a pipeline of medicines for healthy weight loss. SixPeaks leveraged internal biologics capabilities within Ridgeline to create an activin IIA/B receptor antibody that preserves skeletal muscle mass in humans. Additionally, the company has conjugated this antibody with a GLP-1 peptide to create a therapy that can maximize GLP-1 agonist-mediated weight loss while preserving muscle mass.

With the funding, SixPeaks plans to expand its operations and research and development efforts. The company is also expanding its platform to develop other incretin-based molecules for weight management and associated co-morbidities. SixPeaks Bio emerged from Versant Ventures’ Ridgeline Discovery Engine in the Basel Technology Park.

Overall, the funding and collaboration with AstraZeneca position SixPeaks Bio to further advance its mission of developing innovative therapies for healthy weight loss and management.

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