OrsoBio Announces $60M Series A Financing to Advance Metabolic Portfolio for the Treatment of Obesity and Associated Disorders
Summary
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.We have high conviction in the OrsoBio team, the Companys differentiated portfolio, and its strategy to pursue complementary approaches to meaningfully impact the burden of a range of metabolic conditions that affect substantial patient populations, said Matthew Young, Managing Director at Longitude Capital.OrsoBios commitment to addressing unmet needs in obesity, diabetes, and associated diseases aligns with our vision for transformative healthcare, said Edd Fleming, MD, Executive Vice President, Commercialization at Enavate Sciences. While weve witnessed remarkable breakthroughs in the treatment of obesity and diabetes, notably with GLP-1 receptor agonists, there remains a high unmet need for effective and safe oral therapies that are complementary to, and can be used in combination with, these agents.We have worked closely with the experienced development team at OrsoBio since helping found the Company in 2020 and are proud of its track record of success and of the tremendous progress it has realized since emerging from stealth last year, said Srini Akkaraju, MD, PhD, Founder and Managing Partner of Samsara BioCapital and founding OrsoBio board member. I look forward to continuing to partner with the executive leadership team and new members of the Board to accelerate the evolution and advancement of the Companys novel pipeline to improve the care of patients living with metabolic diseases.OrsoBio, Inc. is a privately held, clinical-stage biopharmaceutical company dedicated to developing therapies to treat obesity and other severe metabolic disorders, including type 2 diabetes, NASH, and severe dyslipidemias. Through the application of capital support and operational experience, Enavate strives to enable and empower a diverse portfolio of therapeutics companies to accelerate innovation. To learn more about Enavate, please visit www.enavatesciences.com.Founded in 2017, Samsara BioCapital is a leading biotech investment firm focused on identifying opportunities across public and private markets.