Next-gen obesity start-up SixPeaks Bio debuts with $110 million funding
Basel, Switzerland-based SixPeaks Bio emerged from stealth mode yesterday, with a pipeline of therapies for healthy weight loss, including a potentially best-in-class dual-specific antibody targeting activin type IIA and B receptors.
The company has secured $30 million in Series A financing led by founding investor Versant Ventures and a strategic collaboration with UK pharma major AstraZeneca (LSE: AZN) that will provide additional, non-dilutive financing of up to $80 million over the next two years.
In exchange, AstraZeneca received an option to acquire SixPeaks at an undisclosed, agreed-upon price at the time of submission of an investigational new drug (IND) application for the biotech’s lead antibody.
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