Alveus Therapeutics announced the second and final closing of its oversubscribed Series A financing, increasing the total round size to $197 million. The clinical-stage biotechnology company, which is developing next-generation therapies for obesity and metabolic diseases, said the extension includes participation from Jeito Capital, Novo Holdings, and additional healthcare-focused funds.
The new investors join the original Series A syndicate led by New Rhein Healthcare Investors, Andera Partners, and Omega Funds, with participation from Sanofi Capital, Kurma Partners, Avego BioScience Capital, and other life sciences investors.
The additional capital expands Alveus’ investor base and supports the company’s strategy of progressing multiple development programs in parallel. This includes the ongoing clinical development of ALV-100, a bifunctional glucose-dependent insulinotropic polypeptide receptor antagonist and glucagon-like peptide-1 receptor agonist fusion protein designed to deliver durable weight loss with improved quality of weight reduction and long-term maintenance.
The financing will also fund the advancement of ALV-200, the company’s highly selective amylin receptor 3 peptide agonist, and the progression of its oral amylin program toward clinical development. Alveus plans to commence first-in-human clinical studies for the oral program within the next 18 months.
In conjunction with the Series A extension, Ksenija Pavletic, General Partner and CCO at Jeito Capital, will join the company’s board of directors.
Alveus Therapeutics is focused on developing therapies with sustained efficacy, improved tolerability, and reduced treatment burden for obesity and metabolic diseases.
KEY QUOTE:
“The backing of specialist healthcare investors with deep domain expertise reflects strong momentum for Alveus, driven by our differentiated portfolio, the strength of our team, and the scale of the opportunity in obesity and metabolic disease. Over the next 18 to 24 months, we plan to reach key value inflection points, including delivering a well-characterized Phase 3-ready program and multiple pipeline assets entering early clinical development,”
Raj Kannan, Chief Executive Officer of Alveus Therapeutics Inc
