NeuroBo, yet another GLP-1 company, sells shares for $70 million

26 June 2024

NeuroBo Pharmaceuticals (Nasdaq: NRBO), a clinical-stage biotechnology company focused on cardiometabolic diseases, has raised around $70 million through a private share placement.

The money is expected to support the ongoing development of NeuroBo's therapeutic candidates, including DA-1726, which is currently undergoing Phase I trials in obesity.

The company is also developing DA-1241, currently in a Phase IIa trial, for metabolic dysfunction-associated steatohepatitis (MASH) and Type 2 diabetes.

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