Ambrosia Biosciences announced the second closing of its Series A financing. Merck, known as MSD outside the US and Canada, led this funding closing with additional participation from existing investors BVF Partners and Boulder Ventures. This capital brings Ambrosia’s total Series A funding to $25 million.
The proceeds from the funding will be used to further Ambrosia’s drug discovery efforts as it initiates preclinical development operations at the previous Array BioPharma campus in Boulder, Colorado.
In August 2024, Ambrosia Biosciences had the first closing of its Series A financing. That financing totaled $16 million, and it was led by BVF Partners and Boulder Ventures. At that time, the company said it would initially discover and develop novel orally delivered, small molecule-based therapies targeting incretins and other class B GPCRs. Even though this is a very active space, there is significant science yet to be understood and plenty of opportunity to improve on existing GLP-1-based drugs.
KEY QUOTES:
“We are excited to have participation from Merck for this financing. We are confident that orally administered, small molecule therapies will play a central role in shaping the next generation of treatments for obesity and metabolic disorders.”
“The Ambrosia team has made impressive progress with our CRO partners, and we’re now poised to accelerate these efforts even further with the added capabilities of our in-house medicinal chemistry and biology teams.”
- Nick Traggis, Founder and CEO of Ambrosia
