Another obesity biotech has entered the fray as tirzepatide and semaglutide fly off pharmacy shelves. Alveus Therapeutics disclosed a $159.8 million Series A on Thursday morning to create medicines that drive better quality of weight loss and help patients stay on treatment for longer durations than Novo Nordisk's Wegovy and Eli Lilly's Zepbound
megablockbusters. The biotech's lead candidate, ALV-100, will enter Phase 1b/2 this quarter. The drug was licensed from China-based biotech Gmax and is expected to be dosed quarterly; Sino Biopharm has the Greater China rights. ALV-100 antagonizes GIPR and agonizes GLP-1, which is a similar approach to Amgen's much-anticipated MariTide. The Copenhagen and Philadelphia startup also has a
preclinical pipeline of prospects in the amylin space, another mechanism that's gained ground with recent data readouts. |