Other Azelon investors are Lighthouse Capital Partners and Covington Venture Fund.
ZT-034, which comprises teriparatide (PTH1-34) is said to provide an alternative for patients at high risk of fracture.
Teriparatide is a Parathyroid hormone (PTH) analog which are an underutilized therapeutic option for osteoporotic patients at high risk of fracture, the company said.