Today SixPeaks Bio has 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. And the company raised $30 million in Series A funding led by founding investor Versant Ventures and a strategic collaboration with AstraZeneca, which will provide additional and non-dilutive financing of up to $80 million over the next two years. As part of the deal, AstraZeneca also has certain exclusive rights to acquire SixPeaks during this period.
SixPeaks was launched in 2022 at Versant’s Ridgeline Discovery Engine in the Basel Technology Park with the goal of developing improved therapies for healthy weight loss. And the SixPeaks team utilized 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, but 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. This can limit the long-term utility of these agents.
The preclinical studies of the lead molecules show improved potency, biophysical properties, and pharmacokinetics/pharmacodynamics, and reduced off-target binding compared with competing antibodies.
In 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 has also conjugated its activin receptor IIA/B antibody with a GLP-1 peptide, 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.
Under the terms of the collaboration, AstraZeneca joined in the Series A financing and is committing up to $80 million in capital including upfront and near-term payments. AstraZeneca also 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.
KEY QUOTES:
“We are proud to debut SixPeaks, which has developed a pipeline of impactful future medicines for healthy weight loss. 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.”
- CEO Philip Larsen
“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. It is gratifying to be an early mover in creating the next generation of life-changing medicines for cardiometabolic diseases.”
- Alex Mayweg, Ph.D., Managing Director at Versant and Chairperson of SixPeaks’ board of directors
“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
