Venture Capital firms Atlas Venture, Bain Capital Life Sciences and RTW Investments have led a $400 million Series A for Kailera Therapeutics, the latest obesity biotech to hit the scene.
A trio of biotech-focused venture capital firms has backed Kailera Therapeutics’ mission to bring four China-developed obesity meds into development outside that region in a $400 million Series A.
Atlas Venture, Bain Capital Life Sciences and RTW Investments led the mega round announced Tuesday, with participation from Lyra Capital as well. The cash will go towards Kailera, a biotech that launches with rights to four assets from China’s Jiangsu Hengrui Pharmaceuticals. The licensing deal was signed in May.
Kailera is the latest biotech in an increasingly competitive space. The company’s most advanced asset is KAI-9531, which Jiangsu Hengrui has been developing in China as HRS9531. The injectable GLP-1/GIP receptor dual agonist is already in Phase III testing. Kailera said the therapy demonstrated “compelling results” in Phase II trials for obesity and diabetes, but did not provide data.
Other assets explore different delivery mechanisms and other targets for obesity, including an oral GLP-1 receptor agonist called KAI-7535.
The biotech will be helmed by CEO Ron Renaud, who last held that role at Cerevel Therapeutics, before it was acquired by AbbVie for $8.7 billion in December 2023. Renaud said Kailera is “poised to make an impact beyond the current market leaders” in the metabolic space.
Another new biotech taking on the obesity space is Metsera, which launched earlier this year and put up data last month showing 7.5% weight loss at day 36 with few side effects. Both biotechs will have to face down Big Pharma heavyweights Eli Lilly and Novo Nordisk, which are years ahead with approved assets and expansive clinical programs.
