SixPeaks Bio AG Debuts With $110 Million in Funding
22 Mayo 2024 - 1:00AM
Business Wire
--Next-generation obesity company with
potential best- and first-in-class assets launched by Versant
Ventures--
--Emerges from stealth with $30 million in
Series A financing and a strategic collaboration with AstraZeneca
providing up to $80 million--
SixPeaks Bio AG today emerged from stealth mode 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 AstraZeneca that will provide additional,
non-dilutive financing of up to $80 million over the next two
years. AstraZeneca also has certain exclusive rights to acquire
SixPeaks during this period.
SixPeaks was founded in 2022 at Versant’s Ridgeline Discovery
Engine in the Basel Technology Park with the goal of developing
improved therapies for healthy weight loss. The SixPeaks team
leveraged internal biologics capabilities within Ridgeline to
create an activin IIA/B receptor antibody for robust preservation
of skeletal muscle mass in humans.
GLP-1-based therapies have proven efficacy in obesity and
associated co-morbidities. However, patients can lose muscle mass
in addition to reductions in body fat, with the decrease in muscle
accounting for up to 40% of the weight loss derived from these
medicines. Consequently, this can limit the long-term utility of
these agents.
Preclinical studies of the lead molecules show improved potency,
biophysical properties, and pharmacokinetics/pharmacodynamics, as
well as reduced off-target binding compared with competing
antibodies. In both lean and obese mouse models, SixPeaks’ lead
molecules show potentially best-in-class efficacy for muscle mass
preservation both as a single agent and when combined with GLP-1
agonists.
The company also has conjugated its activin receptor IIA/B
antibody with a GLP-1 peptide, thus creating a first-in-class
therapy with the potential to provide maximal GLP-1
agonist-mediated weight-loss while preserving muscle. This
conjugation platform is being expanded to develop other
incretin-based molecules for weight management and associated
co-morbidities.
“We are proud to debut SixPeaks, which has developed a pipeline
of impactful future medicines for healthy weight loss,” said CEO
Philip Larsen. “In addition, we are very excited to be working with
AstraZeneca, whose development capabilities and commitment to this
space made them our partner of choice.”
“Based on our progress over the past 24 months as a stealth
company, we believe this pipeline has the potential to produce a
new wave of innovative therapies,” said Alex Mayweg, Ph.D.,
Managing Director at Versant and Chairperson of SixPeaks’ board of
directors. “It is gratifying to be an early mover in creating the
next generation of life-changing medicines for cardiometabolic
diseases.”
AstraZeneca collaboration and option
Under the terms of the collaboration, AstraZeneca participated
in the Series A financing and is committing up to $80 million in
capital including upfront and near-term payments. In exchange,
AstraZeneca received an option to acquire SixPeaks at an
agreed-upon price at the time of submission of an IND application
for the biotech’s lead antibody.
“With the number of people living with both cardiometabolic
conditions and obesity today already over one billion, there is a
need for continued innovation and next generation therapeutic
options. This agreement augments our existing weight management
programs, and we look forward to working in collaboration with
SixPeaks to advance the lead antibody as a potential novel
therapeutic option.” Sharon Barr, EVP, BioPharmaceuticals R&D,
AstraZeneca.
About SixPeaks Bio AG Therapeutics
SixPeaks is developing a pipeline of best- and first-in-class
medicines for healthy weight loss. The company emerged from Versant
Ventures’ Ridgeline Discovery Engine in the Basel Technology
Park.
About Versant Ventures
Versant Ventures is a leading healthcare venture capital firm
committed to helping exceptional entrepreneurs build the next
generation of great companies. The firm’s emphasis is on
biotechnology companies that are discovering and developing novel
therapeutics. With $5.5 billion under management and offices in the
U.S., Canada and Europe, Versant has built a team with deep
investment, operating and R&D expertise that enables a hands-on
approach to company building. Since the firm’s founding in 1999,
more than 100 Versant companies have achieved successful
acquisitions or IPOs. For more information, please visit
www.versantventures.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240521299720/en/
Steve Edelson 415-801-8088 sedelson@versantventures.com