OrsoBio has raised $60m in Series A financing to advance its metabolic portfolio for the treatment of obesity and associated disorders.
This latest funding round has increased the company’s total capital raised to $97m.
Co-led by Longitude Capital and Enavate Sciences, this round saw participation from existing investors Samsara BioCapital and NuevaBio, as well as new investor Eli Lilly.
Matthew Young from Longitude Capital and Edd Fleming from Enavate Sciences will become new members of the OrsoBio board of directors which includes Samsara representatives Srini Akkaraju and Cory Freedland.
OrsoBio intends to use the proceeds from the Series A funding to further the progress of its portfolio, consisting of four programmes intended to address obesity and related metabolic disorders.
The programmes include the clinical development of the liver-targeted protonophore TLC-6740 through a Phase Ib study to create a proof of concept and the commencement of a Phase 2a study in obese patients.
It will also focus on advancing IND-enabling activities for TLC-1235, a controlled-release mitochondrial protonophore.
OrsoBio intends to complete the TLC-3595 ACC2 inhibitor’s Phase IIa study in patients with insulin resistance/diabetes and prepare for a Phase IIb study.
The company will conclude the Phase IIa study of TLC-2716 LXR inverse agonist in patients with severe hypertriglyceridemia (SHTG)/nonalcoholic steatohepatitis (NASH), and prepare the groundwork for a Phase IIb programme.
In addition, OrsoBio will select a development candidate for the potential treatment of metabolic and inflammatory liver and kidney disorders and advance IND-enabling activities.
OrsoBio CEO and founder Mani Subramanian said: “This financing is an important milestone for OrsoBio that will enable us to progress our portfolio of first-in-class compounds targeting fundamental aspects of energy metabolism towards key clinical milestones.”