Ambrosia Biosciences announced that it has raised $100 million in an oversubscribed Series B financing round to advance its pipeline of orally delivered small molecule therapies targeting cardiometabolic diseases.
The financing was co-led by Blue Owl Healthcare Opportunities, Redmile, and Deep Track Capital, with participation from existing investors BVF Partners and Boulder Ventures, alongside new investors Janus Henderson Investors, Samsara BioCapital, and an undisclosed institutional investor.
The company said the proceeds will fund operations through the initiation of clinical trials for its lead oral small molecule GLP-1 candidate. In addition, the capital will support the continued development of other programs in its pipeline, including therapies targeting GIP and amylin.
Ambrosia is focused on developing orally bioavailable small molecules that act on key metabolic G-protein coupled receptors. The company combines structural biology and computational chemistry to design therapies intended for both standalone use and combination approaches in treating obesity and related cardiometabolic conditions.
As part of the financing, Sara Clarke, Ph.D., Vice President at Blue Owl Capital, will join the company’s Board of Directors.
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“This financing represents a strong endorsement of our team, science and pipeline, and reflects investor conviction in next-generation oral cardiometabolic therapies. As the field moves beyond first-generation molecules, we see a meaningful opportunity for differentiated small molecule modulators that are designed with combinability in mind. We appreciate the support of both new and existing investors and look forward to advancing our lead programs into the clinic.”
Nick Traggis, Founder And Chief Executive Officer, Ambrosia Biosciences
“With first-generation oral GLP-1 therapies now approved, we believe Ambrosia is well positioned to develop differentiated small molecule therapies with best-in-class potential. We are excited to lead such a strong syndicate of investors and to support the Ambrosia team as they advance their lead GLP-1 program, and broader small molecule pipeline, into the clinic.”
Sara Clarke, Ph.D., Vice President, Blue Owl Capital
